Fixing an error on your credit report can be harder than it sounds

Consumers compalin about credit bureaus

Jacob Foy's credit report has been the source of frustration and worry. Foy couldn't get a copy of his credit report due to an error on it -- an incorrect last name.

Foy believes the mistake in his identity kept him from buying a car, taking out credit, even a getting job. He's certainly not alone.

The Consumer Financial Protection Bureau reports 10,000 consumers have complained about credit reports in the past 15 months, mainly involving the big three.

The CFPB is a federal agency formed following the financial meltdown. Out of those 10,000 complaints, 65 percent are consumers who found errors on their credit reports.

A smaller number, 15 percent, complained about the credit reporting companies investigation of errors on their report. Another 12 percent complained they can't even get their own credit report.

Experian is getting the most complaints. But all the credit reporting agencies have complaints and quickly point to the data they pull from credit cards, job applications, car loans and mortgages. Credit reporting bureaus point out they are improving ways consumers can dispute and correct mistakes.

Today, Jacob Foy finally has his credit report and he has found other errors on it.

So make sure you know what's on your credit report. And if you spot a problem, go online to each of the credit reporting bureaus and submit a report and upload documents as evidence. You can also file a complaint with CFPB.

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