Good Morning America Reports Record Number of Credit Report Errors

This morning on Good Morning America, it was reported that a record number of Americans are reporting errors on their credit reports.  It was quite an eye opening piece.  If you have not seen it, watch here.   A big part of the problem is the manner in which creditors are reporting accounts affected by the pandemic.  Under the CARES Act, if a creditor allows a deferment or forbearance of  payments during the pandemic, they cannot report that those payments were missed to the credit bureaus.  Yet, it appears to be happening nonetheless.

GMA advises to check your credit reports at www.annualcreditreport.com and that is indeed a good idea.  Consumers are also advised to contact the CFPB and if necessary, a lawyer.  We say contact us.  The CFPB was created to help consumers, but it is not going to take your personal matter on.  SmithMarco will take your situation and fight the creditors and credit bureaus to make your credit report fair and accurate.  Contact us for a FREE CASE REVIEW.

 

 

Larry Smith

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