Volume 23 - Number 26
December 21, 2012
Debt Collection Causes Highest Rate of Consumer Disputes
The CFPB has released a report on consumer experience with the three largest nationwide credit reporting companies Equifax, Experian and TransUnion finding, among other things, that credit card history dominates the information in consumer reports and that debt collection items generate the highest rate of disputes. Each of these firms have in excess of 200 million files on consumers. In a typical month, they receive updates from approximately 10,000 information furnishers. The furnishers do this on more than...
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