How can data on my credit report be missing information or contain errors?
The data on a credit report comes from companies with whom a borrower has established credit. These include credit cards, retail stores and others. They are supposed to report your borrower’s credit activity monthly to one or more credit repositories. Unfortunately, they do not always do so, or do so with varying time intervals. The information reported may be inaccurate such as, a balance being shown on an account, even after it is paid off, the credit limit can be too low or show accounts being paid late when they are not. Derogatory accounts that have been closed or written off may also remain on a credit report beyond the legal period of time, normally seven years. The data on a credit report may also contain information about accounts that do not belong to your borrower. It may contain information about others who have a similar name, or your borrower may unknowingly be a victim of identity theft. The credit repositories also make mistakes that contribute to these problems. The sa
