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)
Absurd act by company to prevent negative review — violating the FCRA?
There is a remarkable story from Good Morning America and Yahoo! about a retailer — KlearGear.com — that has “fined” their customers $3500 for writing a negative review after giving their customers poor service.
Pretty absurd, right?
Stupid really.
But this company decided to leave “absurd” and “stupid” far behind in their rear view mirror.
These genuises decided to report on the customers’ credit reports that they owed… (Read more)
“How do I get my Innovis credit report for free?”
Innovis is sometimes called the “4th credit bureau” after Equifax, Experian, and Trans Union. Just like those agencies, you are entitled to a free copy of your credit report from Innovis every 12 months.
(Look at this article and video to find out how to get your Equifax, Experian and TransUnion reports for free).
You can go directly here to order your free Innovis credit report by mail or by… (Read more)
It would be great to think that the credit reporting agencies — Equifax, Experian, and Trans Union — were concerned about making sure our credit reports were accurate.
If it’s true, then we could trust them.
It is not true.
They are not concerned with your credit reports being accurate.
What are they concerned about?
Keeping their customers happy — their customers are the “furnishers” of information.
Bank of America.
Chase.
Capital One.
The debt collectors and debt buyers of… (Read more)
“Why should I keep my credit reports when they look right?”
You pulled your credit reports.
And you’ve looked at them.
You don’t see any errors.
So the question that often comes up is “Why should I keep these credit reports since everything looks fine?”
That’s a great question and here is the biggest reason you should keep the reports.
You don’t know the future.
Accounts which are reported correctly today may be falsely reported next week or next month… (Read more)
Do I Have To Hire A Lawyer To Credit Repair My Credit Reports?
No — you can do your own “credit repair” without a lawyer.
You are entitled to hire a lawyer but not obligated to do so — the process for fixing your credit reports is relatively easy.
There is a lot of abuse and scams out there in the “credit repair” world that you need to be very skeptical about anyone who promises to “fix your credit” —… (Read more)