60 Minutes Report Reveals The Broken Credit Report System In America
60 Minutes had an excellent expose of the credit reporting industry and how Equifax, Experian, and TransUnion are not concerned with fixing credit report errors.
The journalist on the story was Steve Kroft who really captured the frustration felt by so many consumers who cannot get the attention of the credit bureaus to fix a credit report with errors.
40 million Americans have errors — there are about 200… (Read more)
“Can I really beat a credit reporting agency?”
Sometimes credit reporting companies like Experian, Equifax, and TransUnion will put false credit reporting information on your account.
Then, they refuse to take it off of your report even when you dispute it.
When this happens, you may wonder, “Am I stuck with this on my report? Is there anything that can be done to fix this?”
As a Consumer Protection Attorney, I’m here to tell you that yes, you can beat… (Read more)
When you’re dealing with a credit reporting agency, you may wonder, “If I sue a credit reporting agency (such as Equifax, Experian, TransUnion) under the FCRA (Fair Credit Reporting Act), will it grab their attention?”
Yes, it definitely will get their attention to sue them under the FCRA in Federal Court.
This doesn’t mean that you will automatically be successful, because you have to follow the rules, and your case needs to have enough support for your position.
When they… (Read more)
This is a little different from our usual posts, however, I believe this story will be beneficial to you as you deal with abusive companies.
The Scorpion and the Frog
This story has application to debt collectors, credit reporting agencies, car finance companies, mortgage companies, etc.
Sometimes we sit and wonder, “Why do these companies do these dumb things where they’ll have to pay a lot of money after we sue them?”
Read the story of the scorpion and the… (Read more)
Identity theft is a huge concern for all of us.
We don’t want to be denied a job or security clearance because there are accounts in your name that aren’t yours.
It’s one thing to have negative account that is yours, but it is something else if you have a dozen negative accounts that you don’t own.
That’s something you don’t want.
Even if they’re positive accounts, which happens occasionally, it’s not your account.
You may be wondering, “Well, what… (Read more)
Often times when there’s an issue with your credit report, you wonder, “How can I fix this?”
The first step is to pull your credit reports
You can go to AnnualCreditReport.com and pull them there for free.
Then, you need to look at your credit reports
Are they correct?
Are there any errors?
Sometimes the errors are small, such as having the wrong address.
Other times, the error is rather large, such having a $500,000 dollar mortgage that’s late, and… (Read more)