Credit Knowledge

Have you been denied credit and wondered why? So, you requested a copy of your credit report only to find there was errors and inaccurate information on your credit report that is affecting your credit. Then you ask yourself, what can be done to correct these errors? Or, can I repair my credit report myself?

Your credit report is a snapshot of everything you have ever done in your life that has involved your use of credit. Consumers need to know they have rights and need to be educated about their credit profile. Consumers can take preventive steps to minimize adverse actions on their credit report, in addition, to being charged a higher interest rate or being denied credit.

Although, credit reporting agencies do make mistakes by reporting erroneous and inaccurate information, however, under the Fair Credit Reporting Act (FCRA) and Credit Reporting Organizations Act (CROA) your consumer credit rights are protected.

Percentage of Errors on Credit Reports

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The credit bureaus do not concern themselves with the impact of any MISTAKES. Information is frequently inaccurate and does not represent the consumer. As a result, good creditworthy citizens are tagged as being a “high credit risk”.

The credit bureaus have not maintained accuracy in credit files. Third-party studies have shown that 96%, 576 million files have errors regarding delinquencies; 20% of consumers are at risk for being misclassified for a sub-prime loan and; 29% contain errors serious enough to cause credit denial.

That is ridiculous! Sadly, the end loser is the consumer who does not take action to ensure his/her credit files are accurate.

Golden Gate Credit Solutions mission is to educate about credit reporting, scoring and help the consumer fight back by enforcing their credit rights. We offer a legitimate service for clients looking to escape “credit prison” and enter the financial world again.