Need another reason to keep a close eye on your credit reports? Check out the findings and recommendations from Consumer Reports Credit Checkup Study, published on June 10, 2021: “A Broken System: How the Credit Reporting System Fails Consumers and What to Do About It” – linked here The CR report stresses that more than one-third of participant consumers found credit report errors. What does that mean in real-world terms?

Are you in an office right now? Look around. If you have ten co-workers, it is likely that 1-2 of them (or you) have credit report errors. Put differently, somewhere around 30 million consumers may have inaccurate credit reports.The table below, which presents a partial picture of how bad the credit report system has become, is from page 4 of the study.

Key findings are stated on pages 5 and 6 of the study, and include the following: “Consumers are finding errors on their credit reports. More than one-third (34 percent) ofconsumers who participated in CR’s Credit Checkup survey reported that they found at least one error on their report, with 29 percent saying that they found errors in personal information and 11 percent finding account information errors”.

What are the takeaways?  First, check your credit reports often. A great source for free credit reports is  If you cannot access them (and many consumers report that they are denied access to their credit reports, Sherman & Ticchio can help.  Second, review your reports closely.  We can help with that as well Credit reports are, by design, not easy to read. And third, if there are errors on your reports, take steps to have them corrected.  Stay away from credit repair shops and other companies that charge a monthly fee.  Your right under federal law — the Fair Credit Reporting Act — is to have an accurate credit report.  To enforce that right, consult with a qualified and experienced consumer litigation attorney, whether our firm or another reputable lawyer.  Most are members of the National Association of Consumer Advocates.