Wrong Names in Credit Reports: Who's to Blame?

It is reported that over 70% of credit reports have errors. One common error is incorrect first or last name.

Your first name can be incorrect for several reasons. The most common is probably your fault. What is it? What are you doing?

Well, it is quite simple. Not going by your given name. Guys start going by less formal name. Instead of applying by given name of Theodore, start applying with Ted, Teddy or Theo. Ladies with name of Jennifer, start using Jenny, Jenni, or Jen or even Jenn with two ns'

All of theses can be considered aliases. Even worse someone with bad credit who goes by Teddy and same last name could end up on your report. This can take some time to correct if it occurs.

A more common mistake for men is being a Jr. or Sr. or even II or III. This can be bad for younger son or grandson due to fact older could have bad credit or just a lot of credit. This can make it difficult to get approved since you would have to go through your report and determine which loan is yours' and your dad's or granddad's.

LESSON: Always apply with formal name especially if your a Jr. or Sr. Make sure name is correct on application then on any loan forms. Men be kind to your child and don't make him a Jr. or Sr. or II or III. It may be nice and sentimental to name a child after someone. The problem occurs years later and can be quite a hassle for son and even dad.