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By Jim Donovan

By Jim Donovan

PHILADELPHIA (CBS) — The numerous security breaches at corporations and universities recently has provided us all enough reasons to check our credit reports.  But if you spotted an error on your credit report, would you know who to contact? 3 On Your Side Consumer Reporter Jim Donovan takes a look at these sorts of crediting errors and the people responsible for resolving them.

A report by the Consumer Financial Protection Bureau shows just how many disputes and inaccuracies Americans are having with credit card companies.  In the last two and a half years, more than 31,000 complaints were filed with the agency.

The top concerns for consumers were:

– Incorrect information on a credit report.

– Frustration with how credit bureaus handled disputes.

– Trouble getting free credit reports, which of course is required by law.

Experts say these problems indicate there is a lot of finger-pointing going on between credit bureaus and the creditors, ultimately affecting you and your credit.

And if you don’t take the lead in managing your own credit report, and there are errors on your report, you could get stuck with a higher interest rates on your credit cards and loans.

A lot of times problems on your report are not easy fixes, that is why early identification really is so important.  That begins by checking your credit report at least once a year and you can do that for free.  You’re entitled to a free report from each of the big credit reporting agencies, Equifax, Trans Union and Experian using the link below:


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