Over 70% of consumers find errors on their credit report.  Of that, 25 % are serious enough issues that the consumer could be denied credit, the best interest rates and even a job.  With over 54 billion credit updates performed yearly, it's very likely that you or someone you know may have errors on their credit that could cause them to be paying unnecessary interest payments and/or negatively impacting their ability to get credit.

Finding the error is only the first step.  Most consumers don't realize they have an error on their credit report until they are applying for a loan.  At that point, they are typically trying to close on a loan within 30-45 days and to try to get a credit issue fixed within that time frame is difficult at best.

So what can you do to prevent this from happening to you?  Educate and inform yourself on how credit works.  Evaluate your credit at least on a yearly basis.  If you see questionable activity on your report, understand it and correct it as soon as possible.  In most cases, you can begin by filing a dispute with the credit agency that is reporting the information.

Hope this helps!  As always, call if you need anything or have any questions.