Monday, March 4, 2013

There are three Gods in your life that you must worship. Make sure you are in good standing with them or your life as you know it can be ruined forever. Their names are Experian, Trans Union and Equifax. They are in charge of your credit information. Make sure what they know about you is accurate because a mistake on your credit report can cost you money.
A faulty or bad credit report can increase the interest rate you pay on your loans, prevent you from getting a mortgage or buying a car, landing a good job or even getting a security clearance. It is not uncommon to be turned down from something you want because you have a bad credit report. Whether we like it or not much of what we do in our daily lives is monitored, collected and sold to interested businesses so, your credit report is important to others as well as to you.
A new government study has been released that indicates that as many as 40 Million people have mistakes on their credit reports. 20 Million of you have significant mistakes. Mistakes are nearly impossible to get removed from your records. Don’t be afraid to sue the credit Gods. They would rather pay you then clean up the messes. They make more money on bad reports than good credit reports. A settlement here or there means nothing to their bottom line.
Consumer credit reporting is a 4 Billion dollar per year industry dominated by the three large companies that I call our Gods. They keep files on 200 Million Americans that track our financial transactions. They make their money by gathering our spending information and selling it to people we do business with. Companies like banks, merchants and employers. They use the information to make judgments about our creditworthiness and reliability.
An 8 year study about these 3 Gods has been released by the Federal Trade Commission looking at the liability of these 3 companies. What was found was that 1 out of 5 Americans has an error on their credit report and 1 out of 10 Americans have errors on their credit reports that might lower their score. What company or industry can thrive where a 20% error rate would be acceptable? Why are we all being held hostage by the credit Gods with their faulty information about us?
Federal law from the Fair Credit Reporting Act requires these companies to do a reasonable investigation into your possible errors being reported and they are doing nothing. Every day people are complaining about paid bills listed as delinquent or closed accounts listed as open or bad debts listed for other people with similar names or similar Social Security Numbers.
The problem with the Gods is that they won’t fix the mistakes. Eight million people a year report mistakes about their credit report that requires a visit to the Equifax, Trans Union and Experian websites. When you go there they want to sell you your report and do not want to settle your problem. The toll free number will connect you to someone on a far away continent who will just tell you to fill something out on line. Even if you mail your evidence of a problem to the P.O. Box number they provide it is unlikely you will get a response.
The operators that do answer a phone call to so called handle your dispute are likely from India or Chile. These are foreigners that even if you tried to subpoena them for a law suit would not and could not appear because they are foreigners. They are employees of the Gods hired as Dispute Agents and are required to talk to 90 dispute people per day.
They are NOT investigators, they have no way to investigate any claim, they cannot even call you back. They do not have dial able phones and cannot e-mail you back. They have no decision making power to agree with you that a mistake in your favor even exists. All they can do is read your dispute and reduce it to a 2 digit code that would indicate something like late or unsolved and sent back to the creditor like Macy's or whoever you owed money to and they were always favored and were right in claiming you owed them money.
Remember the Gods make money from people with bad credit. They make no money from good people with no bad credit. In fact if you pay all your bills you are often considered as someone with NO credit. So, the answer is that if you have a bad credit report that has faulty information on it. Sue the Gods. They will settle for millions of dollars in your favor just to get rid of your annoying claims. They are making Billions of dollars off of all of you listed with bad credit.
Lawyers have sued on behalf of people seeking to clear the false statements on their reports. There is no way to get their problem solved. Just collect your settlement and buy stuff cash. Our government officials are doing nothing to get after the Gods. Yes, legal corruption exists and is thriving in this country right now.

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