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This Week in Credit News: Consumers Rage!

0 Comments 📁 Credit Repair 🕔03.August 2013
This Week in Credit News: Consumers Rage!

credit news

The biggest credit news this week is all about consumer complaints, as a new study on the top customer woes is released and credit and debt issues crack the top five.

The 10 Biggest Consumer Complaints

Forty agencies in 20 states across the U.S. pooled their records with the Consumer Federation of America and the North American Consumer Protection Investigators to track and analyze the biggest problems facing consumers, and what laws should be instated to better protect them. The result is a survey that allows these organizations to track and analyze the biggest consumer complaints from 2012.

This year’s top 10 list is not so different from last year’s, with autos, home improvement/construction and credit/debt categories taking the top three spots. The biggest mover on the list is home solicitations, which jumped from the 10th spot on the list to the 7th spot.

@kgeldis @CreditExperts

Credit Rage: What’s Your Beef?

As evidenced by the recent CFA/NACPI survey above, consumers have a lot of rage when it comes to credit and debt issues. Part of our work at Credit.com is to give our readers a better understanding of their credit situation, whether that’s through the Credit Report Card or answers from our experts.

We encourage readers to write into our comments section with their credit rants and rages. Hopefully, we can help you understand the problem that’s irking you about your credit or debt and maybe get a better perspective on how to rebuild your credit and turn credit rage into credit growth.

@schreibot @CreditExperts

Equifax Ordered to Pay $18.6 Million for Credit Report Mistakes

A multi-million dollar court verdict hit the credit reporting industry recently when Equifax was told it was at fault for not correcting an error-filled credit report belonging to Julie Miller.

In her lawsuit against the major credit bureau, Miller claims she was denied credit at Hubbard Bank due to her credit report. In 2009, she requested a copy of her report from Equifax, receiving a response nearly a month later asking for more information.

Supplying the new information, Miller says she requested her report again, which she received later that month with false identification information, an incorrect Social Security number, the wrong birthdate and collection accounts she didn’t owe. Miller says she acted swiftly, filing a dispute with Equifax by sending a copy of her report with the errors highlighted twice within five days after receiving it.

In a prepared statement, Equifax’s Senior Director of Public Relations Meredith Griffanti said, “We are very disappointed in the jury verdict and we are exploring our options.”

@shelbybremer @CreditExperts

Image: iStockphoto

The post This Week in Credit News: Consumers Rage! appeared first on Credit.com Blog.



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