They did an investigative report on how disputing information on your credit report is NOT fair to the consumer and there is NO recourse to the creditors or credit bureaus to report correct info or fix legitimate errors or disputes!!
Here is a link to the story:
I had often wondered how a credit bureau could have a decision for me with 1 business day. The experien employees interviewed were only responsible for keying in codes to process paper claims. Claims processed online are simply sent to the creditor to accept or deny your claim.
It can all be removed, I did with mine. First Premier had 51 errors on my report, and I sent them a ITS letter (intention to sue) for $51,000 it got deleted REAL quick. You just have to know the FCRA and now you guys have a nice tool called CFPB using few methods I was able to go from 420's to 760's in a year. Many things got deleted just cause companies rarely keep proper documentation that is required by law to report.
It's a scathing report that I hope affects a change for the better. I have been fighting with Experian to have an unpaid state tax lien updated- they kept coming back as verified. In frustration, I drove to the courthouse and purchased the copy of the 'filed in error' that was filed a few months after the lien.
I know it does not seem a big deal to go get it myself but what if I didn't live within driving distance? Or, elderly or confused on how to take care of it myself?
I am thankful for the advice I have received from this forum and I pull my reports monthly.
Amazing! I will have to go find the full story later.
While I have had some great success over the years as I learn more and more and yes the new "systems" being put into place to help navigate as other poster put and as they stated in the little clip... the fact is even for myself I run in to things that just will not be fixed correctly and the more sub prime you get the more unwilling, or uneducated employees (on the law, outside what they are told or thought they knew themselves) I mean look at some of my posts how this one rep went to the moon and back to tell me FICO is making people confused that they are real but the fact is they are the fake ones and giving out a score that is not what creditors use!
It's rare to get a rep in the USA anymore...
I actually saw the show. Very interesting to say the least. If someone finds it online, please re-post. Id like to see it again.
I also found this link to a 12 minute video on this.
Thanks for the link. That was interesting.
I've only ever found one mistake on my credit history. It showed a judgement against a person with the same FIRST NAME ONLY living at the same appartment complex I lived at like 5 years prior. (and not close to the same appartment #)
It took about 3 months and 2 letters, but I was able to get the incorrect information deleted. They should have deleted it right away considering the last names were completely different, but it could have been worse. 3 months wasn't the end of the world. But I would have sued to if I were in the same situation as the lady in the video. Yikes!