Credit repair vor VIPs ?
David Szwak, a consumer lawyer in Shreveport, La., who has handled dozens of credit cases, said that the V.I.P. designation and preferential treatment did exist at Experian, and he provided sworn testimony from former Experian employees that the category existed.
Estimates of credit reports with serious errors vary widely, anywhere from 3 to 25 percent. A recent study, paid for by the Consumer Data Industry Association, the trade group for the bureaus, found potential errors in 19.2 percent of reports, but said that less than 1 percent of them had disputes that, when settled, resulted in a meaningful increase in scores. Even 1 percent translates into millions of consumers, since there are at least 200 million files at each of the bureaus.
The F.T.C. is expected to deliver a nationwide study on credit report accuracy next year that could provide more clarity. It could also include recommendations for legislative action.
YOUR MONEY
Credit Error? It Pays to Be On V.I.P. List
By TARA SIEGEL BERNARD
Published: May 14, 2011
The major credit bureaus keep a V.I.P. list of boldface names, consumer lawyers say, and those people get special help in fixing mistakes on their credit reports.