Fifty-four percent (54%) of the credit reports contained personal demographic information that was misspelled, long-outdated, belonged to a stranger, or was otherwise incorrect;

Twenty-two percent (22%) of the credit reports listed the same mortgage or loan twice;

Almost eight percent (8%) of the credit reports were missing major credit, loan, mortgage, or other consumer accounts that demonstrate the creditworthiness of the consumer;

Thirty percent (30%) of the credit reports contained credit accounts that had been closed by the consumer but remained listed as open; - Altogether, 79% of the credit reports surveyed contained either serious errors or other mistakes of some kind

Which leads to the next question: how is your report? Chances are, according to U.S. PIRG, the federal watchdog group that tracks your elected officials through your state's participation in consumer advocacy, your report may not be as healthy as you think.

As a little bit of background, Vermont was the first state to enact free credit reporting for consumers eliminating the cost of checking your credit reports for errors without first finding out about a problem. This led several other states to follow and eventually, in 1996, Congress lifted the cost of all reports for consumers checking their credit history when there is an issue. (Most states still allow a minimum fee of $9.) In fact, it took several additional years to further protect your identity.

Vigilance in checking your report will help but often it is the small errors that are carried forward unnoticed that have the greatest impact at the most unexpected time. What consumers can do if your credit history has been challenged is complicated at best.

The first things would be to gather all of your information together. Proof of payment and canceled checks help prove your case with the credit bureau but if the creditor refuses to accept your proof, the ratings agencies will not change their report.

Legal action might be the next step but if there is a collection agency involved this could become even more troublesome. In the normal course of events, prompt action by the consumer will stop anything from getting this far.

Congress can still do more according to PIRG, including allowing greater consumer rights in redress in matter concerning their privacy and their credit. With the high amount of mistakes, this would make it easier for the consumer to rectify errors without hiring an attorney.

Social Security numbers are still too widely used as a form of identity giving greater opportunity for criminal trespass. Without more consumer based power, the problems will persist.