I just wrapped up a case (very nicely!) for a client whose main false information on his credit report was his residence address. Also, his birthdate was incorrect. You wouldn’t think that this was a big deal, but in fact it is: more and more companies are bulk-buying “above-the-line” name, address and date of birth information from the credit bureaus, so if you’re name, address or date of birth information is incorrect, this could actually result in credit denials.
Sounds wacky, but it’s true: my client actually suffered a credit denial because, while shopping for jewelry for his girlfriend, a retail store could not verify his correct address. He was shocked and embarrassed in front of his girlfriend, all because bad information from his credit report had been sold to a company bulk-buying “above the line” information and using it for verification purposes on credit transactions.
So, when you review your credit report, keep an eye not only on the tradelines (the information provided by the banks and finance companies) but also keep an eye on any discrepancies in your personal information.
Interesting article, thanks for posting
Interesting article, thanks for posting