02-10-2013 04:39 PM
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!!
02-10-2013 04:47 PM
Here is a link to the story:
02-10-2013 04:49 PM
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.
02-10-2013 06:59 PM
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.
02-10-2013 07:20 PM
02-10-2013 07:36 PM
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.
02-10-2013 07:37 PM
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...
02-10-2013 09:09 PM
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.
02-11-2013 07:10 AM - edited 02-11-2013 07:10 AM
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!
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.