It's Time To Clean Up Credit Reporting
Last June, Robert J. Corbey applied for a $2,000 loan to put vinyl siding on his Aspen Hill (Md.) home. To Corbey's amazement, his lender refused, citing unpaid mortgage bills on two homes in Virginia and an Internal Revenue Service lien against him and his wife, Ann. Corbey was furious. He had paid off his 30-year mortgage, he had never lived in Virginia, and he had never been married to anyone named Ann. The erroneous information, Corbey learned, came from his Equifax Inc. credit report. Computers at the credit bureau had confused him with another Robert Corbey. It took him more than eight months to clear up the mess.
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