Category Archives: Credit Bureaus

Credit Bureau thirty day Response Time?? || Why Haven’t I heard From Transunion / Equifax / Experian?

The credit agencies have thirty days to respond appropriate? The reason why have not you heard from their store? What’s going on??

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Ask The Credit Professional - working with credit reporting agencies

Credit Attorney covers the greatest no-no’s customers make whenever disputing credit information with all the credit bureaus.
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The Truth About The Credit Bureaus

Are you under the impression that there is some relationship between the credit bureaus and the government? Credit repair expert Jim Kemish offers some insights.

Not a Friendly Service

In a recent blog entry I wrote, “Significant legislation has been enacted to protect you from the impact of the credit bureau’s inaccuracies. The right that you have to receive copies of your three credit reports for free on an annual basis is not a friendly public service by the credit bureaus. The bureaus have been required to provide this service as one of the protective measures included in the Fair and Accurate Credit Transactions Act. Your credit report can have a major impact on your financial life. Give your credit the attention that it deserves and review your reports regularly.”

A Reader Responds

A reader responded by asking, “I’ve read that the credit bureaus are regulated by the Federal Trade Commission. Doesn’t this indicate a relationship with the government?” Below is my reply along with some additional thoughts on the subject.

The Credit Bureaus are Not Government Agencies

I replied that, “The relationship between the credit bureaus and the government is the same as the relationship that you have with the government. Because your actions are conscripted by law does not in anyway suggest that you are necessarily a law abiding citizen (although I’m sure that you are!). As many people live in a constant adversarial relationship with the government, so do many large businesses. The credit bureaus happen to be constantly at odds with the law. Given the potential impact that credit reporting errors can have on your financial life, I strongly suggest that you modify your opinion of the bureaus enough to be very cautious of the content of your credit report.”

Strictly For Profit

One of the unfortunate underlying assumptions that people, like the above reader, have in their attitude towards the credit bureaus is that the bureaus have some form of official status. This could not be farther from the truth. They are strictly for profit businesses. Experian and Equifax are publicly traded companies and list their revenues in the billions of dollars. Trans Union is a privately held company with revenues estimated also in the billions. The three credit bureaus have maintained a consistently adversarial relationship with the government and consumers throughout their histories.

An Adversarial Relationship

An adversarial relationship with the public is not unusual for large businesses. All activities are chosen for the purpose of producing profits. The history of lawsuits brought against the bureaus over time paint a clear picture. The office of the Attorney General of Florida is currently pursuing action against Experian relating to misleading claims, deceptive advertising, a misleading domain name (freecreditreport.com), and failure to honor cancellations to their credit monitoring service offered through this so-called free credit report website.

A History of Conflict

The type of behavior described by the Office of the Attorney General of Florida is consistent with countless charges against the three bureaus. In the 1970s Equifax was charged with rewarding its employees for collecting negative information on consumers. This charge, which resulted in a consent decree, provides an interesting hint about the corporate culture.

Experian Gets an “F”

In 2006 a leading consumer advocate website rated the customer service offered by the three bureaus. The ratings were dismal including a grade of “F” given to Experian, who was sited for not even providing customers with a customer service telephone number. Credit repair is not on the priority list at the credit bureaus!

Nothing Has Changed

The above mentioned consumer advocate site has a current post that says, “With the 2003 amendments to the FCRA, and the introduction of the FACT Act, millions of consumers will see the quality of their credit reports degrade even further. FACT stands for Fair and Accurate Credit Transaction Act, but in reality it is just our government trying to appease millions of consumer who complain about the current credit reporting industry. But they are only appeasing us in name only…”

The Forces at Work

We have been assisting our customers with credit repair since 1989 and as such have dealt with the three bureaus on a consistent basis. There are two major forces at work that shape the behavior of the credit bureaus. The first major force is the need to maximize and protect profits which may result in decisions about operating policy that are not in the best interest of the public. The second force that conspires with the profit motive is the sheer bulk of data that the credit bureaus are trying to manage and maintain. The result has been widespread and serious errors on consumer reports combined with a horrible corporate bureaucratic resistance to fixing the problem. So check your credit reports regularly.

Copyright © 2007 James W. Kemish. All Content. All Rights Reserved.

Jim Kemish is the president and founder of Power Mortgage, a Florida mortgage company based in Delray Beach, Florida. Jim is also the President of Sky Blue Credit, a national credit repair business.

Use Free Credit Repair to help you

As you are in all probability substantially conscious of, your credit report is probably the most important component in your financial life. If you are experiencing troubles due to your credit score, and so you are in all probability inquiring about free credit repair. Before you can get into repairing your credit rating, you experience to first envision the importance and the kind of affect a poor credit score can experience upon your liveliness.

Unfavorable credit scores happen for a variety of reasons. Perhaps you were at a bad place in your life and had problems establishing payments. Maybe you realized difficulties and had to file for bankruptcy. Perhaps, you merely got in over your head, which goes on to a lot of us believe it or not. Nevertheless, in order to take advantage of free credit repair, you first have to realize what is connected to your credit report.

The first measure to free credit repair is to obtain a copy of your credit reports. Yes, reports, because at that place are three major credit reporting agencies accessible, TransUnion, Experian, and Equifax. You should call or write them and request a copy of your credit report from each one. The great news is that in several sites, you can obtain on free copy of your report every last year from each agency.If you do not live in those areas, the credit bureaus will hand you a free copy if you have been refused any type of credit recently.

You should obtain your report within a maximum of two weeks. Here is where the free credit repair should start. When you receive your reports, look them through cautiously. Equate them with your individual records, interpret what they are stating, and make marks of any errors that you learn. Even though record keeping has gotten improved with computers, many a times individuals get on their credit ratings due to errors.

If you find errors, which may include items that you did not purchase or charge, such as in the cases of identity theft, or items that have been paid off but are noted as unpaid or delinquent, or items that you are current on, but are not noted in the credit reports correctly, you should take immediate action.

You can get hold of the credit bureaus in writing, giving notice them of the error and they will see into it. This is utterly free and costs you nothing. Even So, when it comes to free credit repair, you cannot just expect that they will take your word for it. If this was the example, on that point would be no such matter as a negative credit rating as everyone would be challenging and removing their bad debt.

When you write the credit bureaus in efforts to look for free credit repair, you call for to supply as much information and substantiation of your claim as feasible. This could be a receipt, a letter from the creditor, or yet a cancelled check. If afterward looking into the claim, they learn that there is an error, it will be directly taken from your credit report.

Free credit repair also takes on making payments on time, paying off old debt, and seeking . All of these, even if you are late paying off your debt, looks better to creditors than not paying them at all.

If many of you would like more information on this subject and how to repair credit or if many of you are in need debt relief Beatlands Credit Repair has many debt subjects and tips that can be

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Do Credit Bureaus Enable Extortion Schemes?

In an article written by Cathy Moran, a California Bankruptcy Lawyer, the term “extortion” is again used. In her article, “Doesn’t this seem like extortion,” she talks about the June 2006 AARP magazine and the touting in that magazine about an AARP sponsored law enacted in Arizona that prevents theft of one’s identity for a fee. Arizonans will now be able to bar credit reporting agencies from releasing their personal financial information to banks and businesses for a fee of $ 5.00 per credit reporting agency. This sounds like the credit agencies are saying “We have personal financial information about you that might harm you. However, if you pay us, we won’t release it to anyone.” Cathy Moran, a lawyer, states that this seems like extortion to her. Cathy exclaims:”Why should that information be available in the first place and why does one have to pay to prevent misuse of the information? What am I missing here?”

Brian Nelson, writer for the Finance Gourmet, in his article, “Credit Monitoring Scam” exclaims:

“One of the biggest financial scams in America comes courtesy of the credit reporting industry and the three major credit reporting bureaus. In class Mafia-style extortion, a tough looking guy visits a local business. He says that bad things might happen to his business. In order to be safe, he should pay for “protection”. Of course, the only protection the business needs is from the crooks offering the protection. Credit reports and credit report monitoring work the same way.”

In his article, Brain goes on to say “The credit bureau’s extortion scheme works exactly the same way. You see, bad things might happen to your credit report. Someone might put false, damaging information on your file. The “smart” thing to do is to check your credit report often. To do that, you have to pay your protection money a credit monitoring service so that you can be informed when negative information goes on your credit report. Of course, the only thing you need “protection” from is the credit bureaus and their lackadaisical efforts to ensure that only accurate information is on your credit report. Not surprisingly, Transunion, Experian, and Equifax all gladly offer high-priced credit monitoring protection.”

There are big questions in the credit reporting industry. Example: If a porn service bills people who never used their services. Is that attempted fraud? If the porn service then turns over the charge to be collected to a collection agency, is the collection agency then an accomplice to attempted fraud? If the porn company phones the people, that supposedly owe for services, and threatens to put the charges on their credit report if they don’t pay, is that extortion? If the credit reporting agency adds this unfavorable item to the people’s credit report and they are denied a home or auto purchase due to this item, is this then extortion. Is it legal for the credit bureau to enable crooks to extort money from consumers? The idea for this example came from rip-off reports currently on the Internet.

John Smalley is owner at an Austin web design company and advocate for consumer rights. If you have had a bad experience with credit bureaus and would like your story published online to expose their dealings, e-mail me at franklinsmalley@yahoo.com or write to JF Smalley, 12343 Hunters Chase Dr., Apt. 1515, Austin, Texas 78729.

“How To Outsmart The Credit Bureaus” by Corey P. Smith

Do you know who controls credit? Why is credit more important than money? How can a person win in today’s society if they are living in poverty? Is it fair for your credit history to be used as a measure of character and suitability for employment? What’s the real reason behind retailers’ and grocery stores’ loyalty cards? The answers to these and so many other intriguing questions are revealed by Corey P. Smith
http://www.coreypsmith.com

How To Dispute Credit Bureaus and Correct Your Credit Report

If you have recently checked your credit reports and have found negative items you can file a dispute with the credit bureaus and have them investigate these marks. It is incredibly important to ensure that you have a clean credit record as many lending institutions have instituted new approval requirements as a result of the financial crisis.

There are a number of reasons why you can file a dispute with the credit bureaus and have them remove an item from your credit report, reasons include: the debt is not mine, the dates on the account are incorrect, the balance due is wrong, the account is paid… A common tactic collection agencies use to manipulate individuals into paying a debt is by reporting a the debt on their credit history for longer than the legally allowed seven years.

The Steps Required To File A Dispute

You are going to need to write a credit dispute letter and mail one to each bureau. In this letter you need to include your name, your personal information, the item you are disputing, supporting evidence, and it would also be a good idea to include a reference to the Fair Credit Reporting Act. The Fair Credit Reporting Act is a piece of federal law that requires the credit bureaus to investigate any item on your credit report that you file a dispute on.

What Items Should You Dispute?

The Fair Credit Reporting Act says that every citizen is entitled to dispute any item they believe is inaccurate. As we mentioned earlier there are all types of reasons that an item on your credit report can be wrong.

While it may not be morally correct it would be in your credit scores best interest for you to dispute every negative item on your credit report. You should know that you will never be liable for any legal proceedings for disputing an item that you know is correct. In other words you have nothing to lose if you dispute every item on your credit reports.

What Happens After I File My Dispute

Typically the credit bureaus are going to respond by requesting more information however this is nothing more than a stall tactic on their behalf. The credit bureaus have discovered that it is in their financial interest to avoid consumer credit disputes because there is no profit to be had by correcting information they collected about a consumer.

The reality is the only reason the credit bureaus do investigate consumer disputes is because of the Fair Credit Reporting Act. Even with this piece of federal law the credit bureaus have still been fined multiple times by the FTC for violating federal regulation.

You can dispute items on your credit report yourself or if you have trouble we would encourage you to consider hiring a professional credit repair attorney to assist you. The credit bureaus are required to investigate every consumer dispute according to federal law, you don’t just have to live with bad credit.

Once the credit bureaus get your dispute letter and deem it valid they are going to conduct an investigation. They will contact the debt collector or creditor that has created the negative entry on your credit report and ask them to verify that the account is yours and all the related information such as the balance due.

If the credit bureaus are unable to verify this information then they are required to remove the bad credit items from your credit report. It is estimated by experts that up to 80% of all bureau of investigations result in the removal of an item.

For a free credit analysis call (toll free) 1-800-298-4297 or for more about how to dispute credit history and erasing bad credit items on your record visit us.

Latest Credit Bureaus News

Condors growing
credit bureaus
< img alt=" credit rating bureaus" src =" http://free-creditreport-gov.net/wp-content/uploads/2016/08/15172445219_76ca46259b.jpg" width =" 400"/ > Photo by< a href =" http://www.flickr.com/photos/91981596@N06/15172445219" > mypubliclands Seventy-five of the globe’s 439 condors live throughout north Arizona as well as southern Utah, and also within the Vermilion Cliffs National Monument managed by the BLM’s National Preservation Lands. Photo Credit rating: Bob Wick, BLM

How Do Credit Bureaus Operate? By Credit Sense

How Do Credit Bureaus Operate? – http://www.creditsense.com

CreditSense offers the best information and tools on the web to that consumers need to make sense of the vast array of credit options available to them today.

We are continually reviewing and monitoring the most current credit cards, rewards programs and bonuses, and credit industry news to provide you the information you need to make well-informed decisions when applying for a credit card, or other credit products.

Our easy-to-use credit card comparison tool, displays a customized list of the best credit cards to ensure that you can easily compare characteristics such as rewards, interest rates, annual fees, 0% balance transfer options and ultimately know which credit cards best fit your needs.

We understand that applying for a credit card is just one step in building a successful credit history, we are dedicated to helping consumers use their credit sensibly and responsibly.

Having provided consulting services to credit industry clients such as Fair Isaac, Visa and Wells Fargo, our experienced credit experts keep you informed with sound advice, and valuable information to help you navigate today’s credit landscape and make the right financial decisions.

Whether you have a good credit score and are checking into the best rewards cards or programs on the market, or if you have no credit or bad credit and need to begin rebuilding your credit, CreditSense makes finding solutions to your credit needs easy.

If you have a question or concern feel free to contact us, and we’ll do our best to answer your question as soon as we can.

In the meantime you may want to peek at our Credit Card FAQ to see if we’ve already answered your question.

Keep in mind that we are not affiliated with any banks or card issuers but we’ll do our best to help.


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Credit reports play a surprisingly large role in our lives, but even more surprising is how often they contain critical mistakes. John Oliver helps credit agencies see why this is a problem.

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