Credit reports: we know we need them to buy a home, secure a car loan or get approved for a credit card. We worry about our credit score and how to raise it. But a new government study conducted by the Federal Trade Commission indicates that as many as 40 million Americans (1 in 5) have a mistake on their credit report, which will cost them money. Errors include paid bills listed as delinquent, closed accounts listed as open and even bad debts belonging to other people with similar names.

A credit report error is serious and can cause you to pay higher interest rates on everything including insurance, credit cards and mortgages. It may even prevent you from landing a job as more employers are checking credit reports of job applicants.

The 60 Minutes investigation of the credit reporting industry reveals that credit reporting is a $4 billion a year industry dominated by the Big 3: Trans Union, Experian and Equifax. They gather our information and sell it to the banks, insurance companies and merchants. But the Big 3 are regulated by federal law, the Fair Credit Reporting Act, part of which requires them to investigate disputes by consumers. But as Ohio Attorney General Mike DeWine states, “they’re not doing an investigation at all. They won’t fix the mistakes. It really is a secret operation that is so hard to crack.”

Eight million people a year file disputes about their credit report errors. But if you mail your information to the post office boxes listed on the Big 3’s websites, the dispute will likely be investigated in India, or the Philippines or South America, at centers that have no power to change anything. So the original creditor is always assumed to be correct and the disputed item remains on the credit report. 60 Minutes even tried to talk with Trans Union, Experian and Equifax, but were unsuccessful. The agencies referred the reporter to their lobbying group in Washington D.C.

What you need to know: Michigan Consumer Credit Lawyers can fix your credit report errors for FREE. We file the dispute letters, and get errors removed under the federal law, the Fair Credit Reporting Act. Our services are free to consumers, as the credit agencies must pay our costs and fees.

You need a credit attorney to stand up to the Big 3 and fight for your rights. Don’t take on the hassle and headaches and end up getting nowhere – we can do it all for you, for FREE. We get the error removed and get you paid damages as well.


So if you see errors on your credit report, call or email Attorney Gary Nitzkin for a free consultation at (888) 293-2882. For more information about your credit rights as a consumer, visit our website at for informative, how to videos on consumer financial protection.