Credit reporting errors costing Canadians

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Credit reporting errors costing Canadians
Topic Started: Nov 20 2012, 01:28 AM (82 Views)
Darcie	Nov 20 2012, 01:28 AM Post #1
Skeptic Posts: 31,154 Group: Member Member #714 Joined: March 30, 2010	Credit rating mistakes are costing unsuspecting consumers thousands of dollars in higher interest rates and preventing some from getting much needed loans, a CBC News investigation has found. In the past few years, more than 500 complaints have been filed with provincial consumer affairs agencies across Canada about credit reporting agencies, many alleging errors by companies led to their poor credit scores. Code: `Smith sued debt collection agency iQor in small claims court over the name mix-up and won a $3,000 settlement in May of 2012. Collection agency harassed debt-free Canadians Despite that, his Equifax credit report still refers to him as "also known as: Marvin Smith." "I just applied for another card and I got turned down again and I had perfect credit," said Smith.` http://www.cbc.ca/news/canada/story/2012/11/14/credit-reporting-mistakes-costs.html I had a similar problem in 1984 and it took over 7 years to clean it up. The credit agencies do not function properly and I don't think they have any laws governing any errors. Does anyone here know more about them?



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