The role of the Credit Reporting Agencies in the destruction of America

One final example: Borrowing money from a bank is no different from purchasing goods or services from any other service provider. The bank's "interest" charged is no different from the profit made from any other good or service sold to the public.

The bank is just like any other business that provides a service. Instead of calling it the "price" of a good or service, they call it "fees and interest".

Originally posted by CookieMonster09

I would tend to disagree. Whether someone stiffs their landlord, cell phone company, electric company, etc. says A LOT about a person's character.

See this is where I disagree with you.

You automatically assume that the person making the mark on the record is not a corrupt chimpanzee.

You're part of the club, they're part of the club. This other guy being marked must be a chump, eh?

[edit on 5-7-2009 by In nothing we trust]

Originally posted by CookieMonster09

I don't buy it for one second that a person with willpower can't get ahead in this country with some diligent savings, and living well below their means.

Are you married with children Cookie?

How old are you maybe 28 or so?

So you already know all the answers.

[edit on 5-7-2009 by In nothing we trust]

Originally posted by CookieMonster09
The 3 main consumer Credit Reporting Agencies in this country are: Experian, Equifax, and TransUnion.

The core service that these credit reporting agencies provide is a Consumer Credit Report, which is an updated credit file that documents a borrower's credit history: credit cards, mortgages, car loans, etc.

These 3 agencies are private businesses. They do not work for the Federal Reserve, and they do not work for the government. They are private companies that provide factual, historical credit data to lenders and organizations that are trying to protect themselves against fraud and collection problems.

They also favor the business' that subscribe to them. They make it more difficult for consumers to dispute inaccurrate data from unethical business subscribers that know thier way around the legal system and use unethical business practices to hold peoples credit hostage to extortion.

From reading your posts in this thread it seems as if you are highly educated.

Maybe you even worked your way through school, it's hard to know.

I assure you most people are illiterate morons that are easily manipulated. IF you've been in America in the last 20 years it can't have escacaped your notice that success is a freakin crap shoot that favors the established rich and the talented. And even then they are subject to the same madness of excessive burocracy, taxes, media, regulations and lawyers as people of average intelligence and talent trying to better themselves, unless they have the right connections.

It sounds like you know all the theory. Do you know the practice as well?

[edit on 5-7-2009 by In nothing we trust]

You automatically assume that the person making the mark on the record is not a corrupt chimpanzee.

All the credit reporting agencies have standardized steps for a consumer to dispute erroneous negative credit items on a consumer's credit report. It is not at all that difficult to remove negative credit items that were placed on a credit report falsely. It's simply a matter of obtaining one's credit report, and filing the necessary documentation. A pretty straightforward, simple matter.

And frankly, except in the case of identity theft, the items reported are accurate nearly 100% of the time. How do I know? First, I have looked at thousands of credit reports, and spoken with the clients themselves. When I bring up - in conversation with the client mind you - any negative public credit items, the borrower admits the negative item to be accurate: "Oh, yes, let me tell you the story behind that tax lien/judgment/bankruptcy, etc."

I have actually sat down with clients with the consumer credit report in front of both of us, and gone through the credit report in detail. It's accurate beyond belief.

The only time it's not accurate is in the case of identity theft - Typically a close friend or family member with a drug problem that stole a credit card from their parents. That's the typical story.

These banks and creditors would be in a heap of trouble if they were inaccurately reporting credit items on people's credit bureaus on a consistent basis. The fact is, it would be grounds for a class action lawsuit. You simply can't get away with it.

Now, is there human error from time to time? I suppose it's possible - Especially if the creditor is a small, tiny organization and the reports being filed with the credit agency are being filed manually by an individual human being. But most of these records are submitted electronically - especially in the case of a big bank with millions of customers.

Remember, the majority of creditors that show up on the credit file are huge, mammoth organizations - VISA, GE Capital, Chase, etc. They deal with millions of customers. It's relatively rare to see "Joe's Auto Finance" or some other small, tiny creditor no one has heard of.

Borrowers are perfectly entitled to obtain copies of their credit reports at least once per year for free.

It is illegal for creditors to deliberately and falsely place negative credit items on a consumer's bureau.

If you file a dispute with the credit reporting agency, and you provide supporting documentation, the creditor has to respond within a certain number of days to the reported error. If they fail to respond, it's my understanding that the credit reporting agency would then remove the negative item.

Remember, though, these errors occur very rarely - I would guess that it occurs less than 5% of the time. Very few people dispute their credit report once they get a copy because it's accurate and thorough. Only in the case of identity theft do people typically want to dispute items.

You're part of the club, they're part of the club. This other guy being marked must be a chump, eh?

There is no club to join. If there were, I wouldn't be here.

And credit analysts and bankers don't look at their prospective clients as "chumps". First, it's unprofessional, and secondly, most bankers want to help their clients to obtain their financial goals and see them succeed, not fail. Banks make a ton more money when a client is profitable and financially healthy, not when they are in dire straits and failing.

The approach that most bankers take to clients with derogatory credit is this: Contact the credit reporting agency, clean up the mess, and then let's revisit this credit request in 3-6 months. Banks want clients. They are trying to build a long-term relationship with clients. In cases of fraud or identity theft, it's very possible to take a client with a bad credit report and turn the situation around.

Are you married with children Cookie? How old are you maybe 28 or so? So you already know all the answers.

My personal life has nothing to do with this. I don't really think it's relevant to the subject matter under discussion. If you can tell me why it's so important, I would be willing to listen, however. If you are trying to imply that I don't have "family values" so to speak, then I think you're mis-characterizing me entirely.

They also favor the business' that subscribe to them. They make it more difficult for consumers to dispute inaccurrate data from unethical business subscribers that know thier way around the legal system and use unethical business practices to hold peoples credit hostage to extortion.

What proof do you have that the credit reporting agencies favor lenders over consumers? Even if we are speculating, what incentive would credit reporting agencies have for reporting inaccurate information?

In the rare case of errors, how do you feel that the credit reporting agencies make it difficult for customers to dispute inaccurate data? I have already outlined above - The steps for disputing credit information are simple and straightforward - and PUBLIC information.

Very few creditors can engage in illegal and unethical business practices and get away with it for very long. First, it's bad business. Secondly, errors on credit reports happens rarely. Thirdly, it is illegal to report items falsely if done deliberately - You simply can't do this legally.

Do you know the practice as well?

I have firsthand, direct knowledge and experience of credit reports, credit reporting agencies, and intricacies of the banking system in the USA. I have served in senior management positions within the banking sector. What are your credentials?

I assure you most people are illiterate morons that are easily manipulated. IF you've been in America in the last 20 years it can't have escacaped your notice that success is a freakin crap shoot that favors the established rich and the talented. And even then they are subject to the same madness of excessive burocracy, taxes, media, regulations and lawyers as people of average intelligence and talent trying to better themselves, unless they have the right connections.

I've personally dealt with highly successful business owners and entrepreneurs from all walks of life. They don't get ahead because they are "connected". They succeed because they have a highly specialized niche product or service, great client relationships, and a good work ethic. They also have a strong moral compass. Most of these entrepreneurs only encounter the media when they watch TV. Their CPA and CFO handles their taxes. They tend to work in unregulated industries, so they don't encounter too many regulatory challenges, though it does occur from time to time and they deal with it. They do surround themselves with competent professionals - accountants, attorneys, sales managers, operations officers, etc. Smaller businesses usually engage attorneys for estate planning purposes, contract disputes, tax advice, and real estate purposes. That's pretty standard fare for most enterprises.

Last time I checked, most every town in America had a public library system that was free and open to the public without charge. If people are illiterate, then that's their choice. There are plenty of free resources available to help people overcome their illiteracy and ignorance.




[edit on 5-7-2009 by CookieMonster09]

In fact, you can now actually dispute negatively reported credit items online. Go here:

www.equifax.com...

So how is it again that the credit reporting agencies are making it more difficult for consumers to dispute negatively reported credit items? It appears that they are making it easier than ever.

The steps are pretty straightforward for Equifax:

Get a copy of your credit report for free from Equifax
Dispute any inaccuracies with Equifax
Equifax conducts a reasonable investigation (contacting creditor, etc.)
Equifax updates your credit file based on results of the investigation
Results are delivered to you within 30-45 days

How much simpler could it be? I imagine that you can do the exact same thing with TransUnion and Experian.

Equifax's web site has extensive public information on their web site about how to dispute a credit item on a personal credit report. It's not like they are hiding this information and making it difficult for consumers. It's actually pretty user-friendly.


[edit on 5-7-2009 by CookieMonster09]

I have had a lot of 'fun' dealing with credit reports. I have only been able to obtain a credit report from one of the three credit reporting agencies. The other two would ask me questions about accounts that I had never had in order to verify my identity. Because I could not answer the questions, I could not verify my identity. Because I could not verify my identity, two of the agencies would never even talk to me about my credit reporting account.

The one I was able to get a report from, I found numerous errors. I disputed them online. The online form gave you a very limited amount of characters to tell your side. I disputed the errors. Within a few weeks, I received a letter from this agency claiming they verified these debts. Because I disputed the debts (the date on the report indicated these were a few years old) and they were somehow verified, they reset the statute of limitations on these debts and they will now stay on my file for years.

My ex-husband, whom I divorced ten years ago, has remarried about seven years ago. The new residence of he and his new child bride (who now is no longer a child I realize, but she was 16 when they married and he was nearing 40...) is listed on my credit report even though I never even lived in the town of which it is located. Yet, this is verified???

Fingerhut kept putting their supposed debt on my credit report, but I never received the merchandise I ordered. Why should I have to pay for something I didn't receive? Ten years later that debt still gets stuck on my credit report. I have disputed it, and the one credit agency I can actually communicate with in some fashion claims they verified it. That keeps following me around.

MBNA financed the purchase of a GATEWAY2000 desktop computer for me back in 1998. I paid on time every month, sometimes even paying more than the minimum trying to get it paid off. Then once I paid $100 over the minimum payment around January 1999 and MBNA cashed the check but never credited my account. I kept on the phone with them and writing letters. They kept charging me late fees and they even tripled my minimum payment I was to pay each month. I kept sending photocopies of canceled check, but they refused to credit my account. It's about 10 1/2 years later and they still have not credited my account. The account has since been sold and I was sued on a 9-year old debt last year. I ended up winning that case, but I was harassed over that money for years. I never paid them another cent after that one incident because I could not trust them to credit the account. I would never recommend that bank to anyone.

I have different variations of my ss# showing on that one credit report. I have medical bills from someone using my info for medical treatment on that one medical report. I disputed those and they came back verified as well. How am I supposed to prove that I never had that done? I had medicaid during that time too, so there wouldn't be any unpaid medical bills of mine on there for that time period.

My credit was ruined by my husband before I turned 18. I have never had good credit. I always have trouble proving my identity when it comes to credit bureaus. I am now over 30. I have been told that I would need to get a lawyer and that it would basically cost me thousands of dollars to get the mess straightened out. Why bother? I don't have the money anyway. The items I do end up getting off that one credit report I am able to get end up right back on it within a few months anyway. A lot of the stuff is several years old and when it falls off, it gets put right back on again.

Are there stuff on there that is legit? Yes. I owe over $100k in student loans which are on in-school deferment. There are a few credit cards I defaulted on when I had a car wreck and was in and out of the doctors having physical therapy and surgeries. (That so-called insurance you pay $7.99 to them each month in case you cannot make your payments is a sick, cruel joke and a waste of money btw.) There is one judgment on there for one of the credit cards from years before and had I known my rights and about statutes of limitations and had a lawyer, that wouldn't be there either, but that's too late now anyway. I'm just waiting for that one to roll off now. I now try never to borrow money from anyone. No credit cards or anything. I recently bought an almost new car and they were all set up to finance it and I paid cash for it and they were stunned about it. I probably got reported for suspected money laundering afterwards knowing my luck lol. I have a reliable vehicle now though and I'm glad for that.

Most of the stuff on there was either not legit or stuff from the marriage that my ex took out in my name without my permission (I didn't view those as legit either though) and should have rolled off by now due to statute of limitations, but they keep popping back on there.

Decent jobs look at my credit report and I get turned down. So, the only jobs I can find right now at all are minimum wage jobs. I'm glad the minimum wage is going up at least. Until the credit report stuff gets fixed, it'll stay that way, but because I don't have the money to fight it, it'll never get fixed. So, I have a college education but can probably never get a decent enough job to pay the several hundred a month in loan payments I'll have after I graduate. That'll be more dings on my life that will never go away. Had I known all this years ago, I may never have wasted my time with college. They never told me when I went after the first degree that by the time I would graduate that most the jobs in my field would be exported to India and wherever else they sent them. The second degree turned worthless after my car wreck because I couldn't pass the physicals, plus my credit rating put the nail in the coffin there. I was not told prior to getting the second degree that employers would never give me a chance to prove I can do the job if my credit rating was ruined. (And I do mean ruined. At one point my ex had me a quarter million in debt, and he did that before I reached twenty.) I'm close to getting my master's degree, and I do not see much promise with that either so long as the credit agencies keep this up. I have no idea what is on the credit report at the other two agencies. I have just accepted the situation instead of keep spending more years fighting it, because it's just exhausting and stressful and pointless. I have been a lot less stressed over it since I stopped fighting it.

Star and Flag

Yeah i've been talking allot in here about personal changes like Health and Diet and Meditation

But i'll add... slowly paying stuff off and not using credit, lowering expenses living a simpler life

Credit Crads are Evil... I won't even buy a House beyond what I can at the least mostly pay for flat out...

I just went last week from the Richest neighborhood in my city to a couple hundred miles away in a 2 bdrm double wide lol...

and it's nicer, The water doesn't make me ill, the people say hello, the air is clean and I can sit and work on my computer, even going out for a drink is 1/5th price and there is a University a couple miles away...

Better... screw spending...

Life is better without things... I have less but in the end i'll have more and OWN what I have...

Replaced my Car Payment for a Bucket of bolts with a good engine that cost e what i'd pay per month otherwise...

and i'm happier, safer... better

What else can I say

Taking money from them is like... letting the Devil into your home...

Even if like me you CAN pay it, you still... are in the loop, working harder to earn more and more and more and more of you drifts from the true nature of your being...

The trap isn't financial it's Spiritual as well...

Dangerous stuff...

Good Input OP

I have only been able to obtain a credit report from one of the three credit reporting agencies.

You should easily be able to obtain free copies of your credit reports from all 3 agencies. I was able to do so online at FreeCreditReport.com for a nominal charge - It took me less than 5 minutes to get all 3 reports, and the information they asked me for was very minimal for identification.

I would venture to guess that this is pretty rare. I have never once had a client at the bank express any difficulty obtaining their credit reports - Not even once.

If this is really a legitimate issue, I would contact your local Attorney General and file a complaint with the Better Business Bureau.

My ex-husband, whom I divorced ten years ago, has remarried about seven years ago. The new residence of he and his new child bride (who now is no longer a child I realize, but she was 16 when they married and he was nearing 40...) is listed on my credit report even though I never even lived in the town of which it is located. Yet, this is verified???

The only way that address got on your credit report is because your husband used your SS# and that address for applying for credit somewhere. This is a clear cut case of identity theft.

Fingerhut kept putting their supposed debt on my credit report, but I never received the merchandise I ordered. Why should I have to pay for something I didn't receive? Ten years later that debt still gets stuck on my credit report. I have disputed it, and the one credit agency I can actually communicate with in some fashion claims they verified it. That keeps following me around.

Sounds like another case to contact an attorney, the Better Business Bureau, and the Attorney General in your area to file a complaint. Send a complaint letter to the CEO.

If you can legitimately prove you never received the merchandise, this should be pretty straightforward to clean up. If they have records with your signature that you signed for the merchandise, then you may run into challenges.

Did your ex-husband sign in your name for the merchandise and steal it from you?

I have different variations of my ss# showing on that one credit report. I have medical bills from someone using my info for medical treatment on that one medical report. I disputed those and they came back verified as well.

Clear cut case of identity theft.

My credit was ruined by my husband before I turned 18. I have never had good credit. I always have trouble proving my identity when it comes to credit bureaus. I am now over 30. I have been told that I would need to get a lawyer and that it would basically cost me thousands of dollars to get the mess straightened out.

I think we've identified the culprit here - your ex-husband stole your identity.

Most of the stuff on there was either not legit or stuff from the marriage that my ex took out in my name without my permission

Same as above.

So in summary, my suggestion here would be to contact an attorney and sue your husband. Yes, you do need an attorney, and it may cost you some money to hire one. But look at the costs to you: Your credit is ruined, you can't qualify for a good paying job because of what he did to your credit, and it's caused a lot of stress in your life.

You need to weed through what is legitimate and what isn't. Once you have identified what is a legitimate negatively reported item, that falls on your back to clean it up and get it resolved. If it's an illegitimate item, you need to either sue your husband and work with an attorney to do so, or you need to file a police report for identity theft on that particular item on your credit report and go through the necessary paperwork to document such with the credit bureaus.

You also might want to sign up for a credit monitoring service, as it is quite apparent that someone else may have also stolen your identity.

Taking money from them is like... letting the Devil into your home... Even if like me you CAN pay it, you still... are in the loop, working harder to earn more and more and more and more of you drifts from the true nature of your being... The trap isn't financial it's Spiritual as well... Dangerous stuff...

Credit has to be used with due care. The borrower is truly servant to the lender, that much is true.

If managed conservatively, credit can be positive. The issue at hand is that too many people are uneducated on how to use credit properly, and need to educate themselves and act responsibly.

It's not rocket science, and most anyone can take the time to learn how to budget their money and live a simpler, debt-free lifestyle. More Americans should do so. They'd be much happier, and have a lot less stress in their lives if they got rid of their credit cards and lived well below their means.

Kudos to you, sir, for taking the initiative to take charge of your life and make the necessary steps to escape the burdens of heavy debt.

Originally posted by CookieMonster09

I have only been able to obtain a credit report from one of the three credit reporting agencies.

You should easily be able to obtain free copies of your credit reports from all 3 agencies. I was able to do so online at FreeCreditReport.com for a nominal charge - It took me less than 5 minutes to get all 3 reports, and the information they asked me for was very minimal for identification.

I would venture to guess that this is pretty rare. I have never once had a client at the bank express any difficulty obtaining their credit reports - Not even once.

I went by the social security office to try and get a new ss# and they said that his address showing up on my credit report was not proof enough to get a new number. I am glad someone else sees it, but it's no one who can get me a new ss#. I have been fighting against him in some way or another since I met him and have gotten little to no help with it.
If this is really a legitimate issue, I would contact your local Attorney General and file a complaint with the Better Business Bureau.

My ex-husband, whom I divorced ten years ago, has remarried about seven years ago. The new residence of he and his new child bride (who now is no longer a child I realize, but she was 16 when they married and he was nearing 40...) is listed on my credit report even though I never even lived in the town of which it is located. Yet, this is verified???

The only way that address got on your credit report is because your husband used your SS# and that address for applying for credit somewhere. This is a clear cut case of identity theft.

Fingerhut kept putting their supposed debt on my credit report, but I never received the merchandise I ordered. Why should I have to pay for something I didn't receive? Ten years later that debt still gets stuck on my credit report. I have disputed it, and the one credit agency I can actually communicate with in some fashion claims they verified it. That keeps following me around.

Sounds like another case to contact an attorney, the Better Business Bureau, and the Attorney General in your area to file a complaint. Send a complaint letter to the CEO.

If you can legitimately prove you never received the merchandise, this should be pretty straightforward to clean up. If they have records with your signature that you signed for the merchandise, then you may run into challenges.

Did your ex-husband sign in your name for the merchandise and steal it from you?

I have different variations of my ss# showing on that one credit report. I have medical bills from someone using my info for medical treatment on that one medical report. I disputed those and they came back verified as well.

Clear cut case of identity theft.

My credit was ruined by my husband before I turned 18. I have never had good credit. I always have trouble proving my identity when it comes to credit bureaus. I am now over 30. I have been told that I would need to get a lawyer and that it would basically cost me thousands of dollars to get the mess straightened out.

I think we've identified the culprit here - your ex-husband stole your identity.

Most of the stuff on there was either not legit or stuff from the marriage that my ex took out in my name without my permission

Same as above.

So in summary, my suggestion here would be to contact an attorney and sue your husband. Yes, you do need an attorney, and it may cost you some money to hire one. But look at the costs to you: Your credit is ruined, you can't qualify for a good paying job because of what he did to your credit, and it's caused a lot of stress in your life.

You need to weed through what is legitimate and what isn't. Once you have identified what is a legitimate negatively reported item, that falls on your back to clean it up and get it resolved. If it's an illegitimate item, you need to either sue your husband and work with an attorney to do so, or you need to file a police report for identity theft on that particular item on your credit report and go through the necessary paperwork to document such with the credit bureaus.

You also might want to sign up for a credit monitoring service, as it is quite apparent that someone else may have also stolen your identity.

I would go try to get a report from the other two and they would ask questions like for the account numbers from accounts I did not have. I of course could not provide them. This has been going on for years now.

Every time I try to do something about my ex doing something to me, his government buddies block any consequences for his actions. He is a government employee with connections. They say I am just a vengeful ex and refuse to let me do anything about it. That has been going on since 1993 at least. I have given up on it. I have wasted many years trying to see justice.

The fingerhut thing happened after I moved to KY, so my ex had nothing to do with it. I would like to know how I can prove that I did not receive something?

An attorney would require money I do not have. Suing my ex would not result in a win because I have never won against him. Why? His buddies hand everything to him. Plus, the statute of limitations is up on most of the stuff. No attorney is going to do an interstate case pro-bono.

Credit monitoring services also cost a lot of money. I have signed up for them before and they made money while I benefitted nothing from the whole arrangement. And they charged me money each time I accessed the report they gave.

I currently have no job at all and am in college. I cannot afford to spend any more money on this. I have already lost thousands and thousands on this mess and I am not going to spend any more on it.

I finally got an alert on one of the agencies, but they still send my mail to my old address that caught fire last year and I have to wait for the mail to get forwarded. I even gave them my new address.

I have never had a credit card and have had no outstanding debt or loans in over 25 years. have paid cash for the last 25 years.

Where do you think my credit score is not 800 not 700 but some where around 600,

And i know of many companies that use your credit score as a tool in there hiring process.
They don't care why its low just that it is.
How do i know this, its because i was a vice president of a small company and the superintendent at one of there mines.
And have been to the training courses on hiring.

Few companies check to see why your credit score is low.
And fewer would care if its because you do not use credit.
Some want you to build up a high credit debt after they hire you because its less likely you will quit if you are up to your neck in debt.
They do not have the time to check or want to spend the money to check.

This is why as you get older you have a harder time finding work.
this is also why many people that are disabled have a hard time finding work.

I would go try to get a report from the other two and they would ask questions like for the account numbers from accounts I did not have. I of course could not provide them. This has been going on for years now.

The first step you need to take is to obtain copies of all of your credit reports. You already have one. You should be able to obtain these for free without charge. If not, then I would seriously consider spending $30 and obtaining copies of all 3 reports at FreeCreditReport.com or a similar pay site.

The fingerhut thing happened after I moved to KY, so my ex had nothing to do with it. I would like to know how I can prove that I did not receive something?

Why not contact Fingerhut and ask them to provide you with the proof that you received the merchandise? Do they have a FedEx tracking number and proof that you signed for the package? If not, why not?

In this case, I would file a complaint with the Better Business Bureau, and write a letter to your state's Attorney General. I would also write a polite, though firm letter to the CEO and send it certified mail return receipt requested.

If FingerHut is still holding you accountable, and can give you proof that someone signed for the merchandise in your name, then I would file a police report for theft and fraud, and send a copy to the CEO at FingerHut as supporting documentation.

This should get this matter moving in the right direction. It's up to you to take action and initiative.

An attorney would require money I do not have. Suing my ex would not result in a win because I have never won against him.

Identity theft is illegal and an act of fraud. Attorneys take cases like these all the time.

If the statute of limitations has expired, you can still hire either an attorney or a credit repair analyst that can help you analyze and clean up your credit history. Just make sure you hire a professional, and someone who is legitimate - with good references, etc.

If your husband committed fraud, you can still file a police report, and document the fraud so that you can show the credit reporting agencies that these are illegitimate credit items on your credit report. You don't have to sue your husband to file a criminal complaint.

All you want is your name cleared. You don't have to sue him to do so. (If it were me, I would sue, and I don't care how "connected" he is. I am not intimidated by people's "connections". I could care less. Fraud is fraud. Period.)

An attorney would require money I do not have.

That's exactly why you need to do everything you can to clean up your credit. First, by taking action yourself, and then hiring a credit repair analyst or an attorney yourself to help you work through the issues you haven't been able to resolve on your own.

How much is your bad credit costing you? It sounds like it's a lot. You've already stated it has cost you good paying jobs.

You cannot afford to NOT hire an attorney and get help to get this mess straightened out.

I would also check with women's organizations - domestic violence organizations, for instance - and see if they can assist you. There are all kinds of non-profit organizations out there designed to help low income people with these kinds of issues - at no cost.

Just Google for "free credit counseling services". Here's one I found: www.christian-credit-counselors.com... There are score of others. Just poke around online and see if there are local free resources that can help you.

Credit monitoring services also cost a lot of money.

Ten bucks a month. And I can access my credit report anytime I want for free. Sends me an e-mail alert everytime someone pulls my credit.






[edit on 5-7-2009 by CookieMonster09]

[edit on 5-7-2009 by CookieMonster09]

Where do you think my credit score is not 800 not 700 but some where around 600

Or you might not have a credit score at all if you haven't used credit in 25 years. The credit reporting agencies have little, if any, information on your credit history.

If there is any delinquency - late pay, judgments, tax liens, bankruptcies, etc. on your credit report, then your score will be low as well.

Each credit report is unique. It sounds like you have LIMITED credit history, and possibly some negative credit items that are bringing down your credit score.

Dave Ramsey has NO credit score. You don't need a credit score if you pay everything with cash anyways.

And i know of many companies that use your credit score as a tool in there hiring process.

Of course they do, because it's a third party reference tool. It's also just one part of the equation - Your interview, qualifications, and work history are also part of the hiring process - not just your credit score.

It's just one piece to their investigation of you - the applicant for hire.

Lots of places these days run criminal background checks. Some sensitive positions even require fingerprints to be taken for an FBI background check. Some places actually check professional references.

So what? If you are in a sensitive position handling money for an employer, what's the big deal?

Would you rather if companies just hire anyone without criminal background and credit checks?

If you owned a business, and had to hire someone to handle all the cash transactions in your company, wouldn't you want to do some due diligence on their background and credit history?

If someone is having credit problems, don't you think that would make them more likely to steal from their employer than someone with clean credit?

There are plenty of jobs that don't involve handling cash or sensitive information.

They don't care why its low just that it is.

I know a lot of employers that have ridiculous hiring policies. Sounds like this one's a doozy. If they don't know how to read a credit report, I probably don't want to work for them anyways.

Some want you to build up a high credit debt after they hire you because its less likely you will quit if you are up to your neck in debt.

I have never had an employer put a gun to my head and force me to take on new personal debt.

This is why as you get older you have a harder time finding work. this is also why many people that are disabled have a hard time finding work.

Doubtful.

reply to post by CookieMonster09

i disagree. i have two friends, both newly divorced who got gigged by exes trashing their credit. neither can rent a house or apartment from anyone who checks credit (thank goodness some still don't), and both had to put down ridiculous amounts of money to get utilities turned on.

pay as you go for college? i no longer even EARN $40K a year, never mind use it all to pay for college.

i disagree. i have two friends, both newly divorced who got gigged by exes trashing their credit. neither can rent a house or apartment from anyone who checks credit (thank goodness some still don't), and both had to put down ridiculous amounts of money to get utilities turned on.

Honestly, how is this the fault of the credit reporting agencies?

If I am married, and I have joint signature on a credit card with my wife, and then we divorce, don't you think it's incumbent upon me to cancel that credit card immediately before my wife takes me to the cleaners and trashes my credit? Wouldn't that be the intelligent, mature, responsible thing to do?

What about a car loan? If I have joint signature with my wife on a car loan, and we divorce, isn't incumbent upon me to take possession of the vehicle and sell it immediately? If I profit from the sale of the car, wouldn't I need to legally split the profits with my wife? If there is a shortfall on the sale (meaning I owe more than its worth when sold), isn't it incumbent upon me to make arrangements with the finance company to make sure the loan shortfall gets repaid promptly?

In a divorce, you usually have two bitter parties at each others' throats doing whatever they can to trash the other person's reputation, credit, etc.

Don't you think it would be smart to hire a sharp divorce attorney, immediately open a separate checking account with your local bank, resolve any joint signature loans immediately, and cancel any joint signature credit cards?

I will tell you what happens in a divorce - Most people just let everything go by the wayside.

No, blame it all on the credit reporting agencies. After all, it's their fault for reporting defaults on joint signature loans, right? Give me a break.

If you sign a joint signature loan - meaning that you and your wife or husband both personally guarantee on a loan - you better have a good exit strategy for the creditor when you get a divorce. Just "letting things go" and acting irresponsibly doesn't cut the mustard. You signed jointly, you are responsible for the loan.

Now, in some divorce cases, one spouse forges the signature of their ex on new loans. This is called identity theft and fraud, and it is a criminal offense that can lead to jail time. This is why we have divorce and criminal attorneys in this country.

Two separate issues in a divorce: Either complete irresponsible behavior or victim of fraud/identity theft.

pay as you go for college? i no longer even EARN $40K a year, never mind use it all to pay for college.

Yes. Instead of going to that super expensive party school, why not take the first 2 years and live at home and attend a good community college at 1/4th the price, then transfer to a university in the 3rd year - finishing with a degree from a 4 year university? Too many parents and college kids spend their first 2 years doling out expensive tuition instead of enrolling the college kid in a community college instead, or just a local college where the kid can live at home and save on rent and food.

Why not work your way through school like millions of college students do? I worked countless dead end jobs to pay my way through school. Waiting tables, washing dishes, mowing lawns, lifeguarding, bouncer at a few bars, working landscaping and construction jobs, working on an assembly line, etc. It's not glamorous, but you do what you have to do to make it happen. It's called having a work ethic and finding a way to make it happen.

If you have to take out a loan for college, you better be smart about it, and enter a field that will definitely permit you to repay the loans in a timely fashion. Better not take out loans for college if you don't have a specific plan and career path after graduation. Better do your homework and make sure the field you are entering is not going to be flooded with other candidates. (Law school is a classic example of this.)

Originally posted by CookieMonster09

It is not at all that difficult to remove negative credit items that were placed on a credit report falsely. It's simply a matter of obtaining one's credit report, and filing the necessary documentation. A pretty straightforward, simple matter.

Actually it's kind of a pain in the a$$. You must deal with every credit agency separatly. They all report different errors for the same information. When you file a dispute the credit reporting agencies are suppossed to verfiy the validity of the information. My understanding is that basically all they do is ask the reporting subscribing business if they are reporting the information correctly.

You are assumed to be guilty and the burden of proof is on the one who's credit is being reported. There is no apology or restitution for the victim of a business that erroniously reports data. A multi-million dollar corporation will claim your $43 last cell phone payment as a tax loss faster than you can say what the hell happened. And then transfer all calls that you have about it to India. Of course, everything must take place in writing. So you need to spend your time in a non-productive letter writing campaign to raise your credit score a few measly points. What a complete waste of every ones time and resources.

So it is basically your proof against theirs and if they want to be a thorn in your side they can really cause you some pain. If you get mad enough you can go after some of these business' using the fair credit reporting act, but obtaining a judgement and collecting on it are two different matters.

Now all the little brother governments have also jumped on the persecution band wagon. The state or local municipulties can file claims on your credit for stuff like tax liens, traffic tickets, and miscellanious fines and such. They don't even have to be right. They just have to make a quick claim against your credit and boom now you have to deal with 9am-4pm 4 day work week fat fannie at the DMV or some such to clear your credit as well as your issue.

Maybe the legal industry should start targeting the credit reporting agencies and thier subscribers with some class action lawsuits.

I believe that there is a third party verification company, why don't you tell us about that Cookie.


[edit on 6-7-2009 by In nothing we trust]

One more thing: Not to sound to harsh, because I do understand that going through a divorce is a major emotional trauma. I get that. What I don't get is how that makes the credit reporting agencies responsible.

Credit reporting agencies simply report creditor information. Plain and simple. They present the information in as factual and objective manner as possible. They give clear cut guidance on how to contest false or fraudulent credit items. Credit reporting agencies are pretty cut and dry.

The use of this information is an entirely different matter. All the credit reporting agencies are trying to do is report credit information. That's their function and role in the credit world.

Now, if you have a complaint about how credit reports are used, that has nothing whatsoever to do with the credit reporting agencies.

Every example cited here in this discussion has been about very subjective, isolated human events and interactions involving people with trashed credit due to divorce, etc. Hello? How is that the fault of the credit reporting agencies? All they are doing is reporting credit information.

One more thing: People lie all the time to creditors about their personal credit. People have tons of excuses as to why their credit is a mess. Story after story after story. Who cares? It is what it is. Going back to what I have said before - People tend to either pay their bills, or they don't.

The ones that don't - The ones that stiff their creditors - These people are the ones that make everything so much more expensive in society and should be chastized - Not the credit reporting agencies, nor the creditors.

If you stiff your landlord, or your electric company - not because of illness or job loss - then you are taking advantage of the system and you SHOULD be punished in the future the next time you attempt to obtain credit. You SHOULD have to pay more in interest, and put up a hefty deposit. You've proven by your past history that you can't handle credit responsibly - It's your own fault.

Thankfully, most people have stellar credit and actually pay their bills on time, and credit is never, ever an issue. The only ones that complain about credit are the ones that can't get it because they trashed their credit usually due to their own negligence and irresponsible behavior.

I dont like the credit bureaus at all! I owe on one thing, my car and that is only about 600 bucks. I had credit cards when I was 18 til I was about 20 or so and I got rid of them. They were a nightmare! It was easy to use plastic and not pay if you didnt want to (although I always paid them). I was young and didnt know what I was getting into. My debt wasnt that high but when I lost the good job I had it was hard to pay them so for about 6mths they were late and my credit was horrible. Well I did everything I could to pay it (2-3jobs at once) and I paid it off and now only use cash and my prepaid debit visa card. I stopped using banks after I worked for First Union for a while. Since then I pay my own tuition, which is hard but I do it and if I have to finance anything it's a car and its used and only financed for a year. My credit is fine now, or at least I hope after paying it off and it sucked doing so. I havent had a credit card in about 10 years and I dont lack anything. I save and budget and buy only what I need. I am quite happy with this and actually kind of proud since most of my family and friends are in such debt they dont know what to do. My mother told me she is proud of me for being smart with my money and for her that is something since she has only used the word "proud" with me on this occasion...lol


Another thing that drives me nuts about the credit bureaus is how now most jobs require a check of your credit! Now how in the world does that show what kind of worker you would be? It IMO is discriminating. I use to refuse this check while searching for a job. When my credit wasnt so hot this hurt me! I wasnt a bad person I just got caught up in bad spending and poor money judgement on my part, it didnt mean I wouldnt do my job right! I was a manager at a store and was in charge of hiring. As a manager I use to overlook this part because I didnt feel it was an indicator of a good worker. I know because two people I hired who most wouldnt have based on their credit were the best workers I had! One became a manager too....ok sorry for that rant but I have so many issues with the credit bureaus I could go on forever.