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Saturday, May 05, 2007

Comments

AttractiveCreditSecrets.com

Although this legislaton is good, it will do nothing to correct the problem. The bureaus will still continue to operate as they always have since they have all politicians in their hip pocket. This is just a way to shut us up and say, look we did something about it. For that reason we developed http://www.AttractiveCreditSecrets.com the most comprehensive credit repair guide and video tutorials on the market today. We provide only laser targeted information to help you fight back against the bureaus, period.

R. Evans

Brian, thanks for the blog post. I think everyone should know what is in their credit report. I found a site which shows you the top sites to get your free credit report - http://Credit-Report.SuperSnappy.com - hope that helps.

PARK DEE

Here is a great site about banks, online banking, internet banking, tax form, rewards credit cards, accept credit cards online, 6 months interest free credit cards, bankruptcy credit, credit finance, massachusetts banks, bank websites, credit cards, debt consolidations, loans, credit reports, investments, stocks and shares, small business, currency exchange and more. Hope can share with everyone here http://www.nominatedbank.info

Debt Help Review

There are lots of times when clarity is every bit as important as accuracy. Kind of silly that they're not BOTH required.

Wesley

Wow...... it's a nice website with lots of healthy information.

Mike Clover

I just came across your blog about Free Credit Score Reports and wanted to drop you a note telling you how impressed I was with the information you have posted here. I also have a web site & blog about Free Credit Score Reports I know what I'm talking about when I say your site is top-notch! Keep up the great work, you are providing a great resource on the Internet here!" Visit my website as well http://www.my720fico.com

Andy the Credit Report Critic

"Are there any additional cases out there that address disregarded documentation and/or failure to disclose, mistaken Identity, etc."

Hi there,

Interesting previous comment
by Jennifer Bilodeau regarding mistaken identity.

A recent investigation by The Times newspaper unearthed that credit report bureaus are unable to detect when someone applys for credit in their own name using a third party Social Security number.

Sounds scary!

Best regards,
Andy

Jennifer Bilodeau

I am researching a personal situation. I am not in the legal profession but pretty confident with my extensive documentation.

I have a letter dated 2005 from a creditor indicating they are unable to locate any information or validation of charges on a secured card belonging to me. The letter on creditor letterhead clearly states the account should be deleted.

All three CRA's have received a copy of this letter in excess of 50 times and have disregarded the dispute providing no answer, or a "stock" letter telling me to contact the creditor and get them validating documentation. Each creditor phrases it differently, but essentially they are all sending me back to the creditor who can't even find my social in their system.

This dispute has been "on the books" in excess of 7 years, however, date of last activity has been altered to reflect most recent as of 8/31/07.

Are there any additional cases out there that address disregarded documentation and/or failure to disclose, mistaken Identity, etc.

Raul

The equifax credit bureau had violated the FCRA on my brother, by deniying him the rigth to get a free credit report once a year,should I take them to fedral court to make them pay for the violation?

Scott Kreppein

Re: Credit Score Error

The FCRA does not cover error in calculating your credit score. The reason is that the methodology for calculating your credit score (FICO score) is a well-kept trade secret of the Fair Isaac Corporation. In theory, a calculation error would be legally actionable under several common law and equitable theories, but without the methodology there is no way to determine whether there has actually been an error, even for pleading purposes. There has been some litigation over whether it is fair to allow this methodology to remain a secret, but determining your FICO score is a private enterprise and public disclosure of the methodology would completely erode its profitability. Thus far, this has been an adequate justification for allowing the FICO methodology to remain a secret.

John P.

Does FCRA address or cover the credit score in addition to the credit report? My experience has been that while the credit agencies have a procedure for consumers to challenge errors in the credit report, and to challenge the credit score when it is based on faulty information in the credit report, there is no procedure to challenge the score on the grounds that it has been improperly calculated even though the credit report itself is correct (i.e., if the score is lowered based on the errant statement that the consumer has opened too many new accounts when all three credit reports show no new activity).

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