Tagged: credit score

Millions of consumers have an error on their credit report. In response, Democratic Senator Claire McCaskill of Missouri held a hearing Tuesday on the consumer report industry.

One out of every five consumers has an error on at least one of their major credit reports, according to a study released a few months ago by the Federal Trade Commission. Those errors can cause consumers to pay more or be denied credit or housing.

McCaskill, who recently became chairman of the Senate subcommittee on consumer protection, called the system “kafkaesque.”

Credit score got you down? You can boost your score by hiring a credit clean-up service.

In case you missed it, check out this story from our own Adam Allington for Marketplace Money on how a couple hundred dollars investment can result in big savings in mortgages and other loans.