FICO Score Inaccuracies – A Real Concern

As a borrower, it is imperative to know about FICO scores.  Often there is a non-refundable application fee (not with our application form, of course).  The FICO score can be checked by obtaining copies of a borrower’s financial report from major reporting agencies.  Three of the nationally recognized agencies are  Equifax, Experian, and Trans Union.  Once the report is obtained, we recommend you review your score for inaccuracies.  According to experts, inaccuracies make up 25% of decreased scores.  Some of the  typical inaccuracies that could tarnish your financial score and render you ineligible are incorrect balances on credit cards, incorrect employment information, unauthorized credit report inquiries, and identity theft.