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Credit Bureaus


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No one seems to have thought about how credit bureaus facilitate identity theft. I don't recall giving them permission to keep information on my personal business. Yet ,it's on their word that future credit is approved or disapproved. I was a victim of identity theft a few years ago. The biggest nuisance was having to review credit bureau records, which I did until I just got sick of the waste of time. Reports to credit card companies, FBI and other jurisdictions led to no action and no response. Fortunately, I did not incur any expenses except for the copying, mailing and time to review and send reports. And forever after, credit bureaus require a double confirmation of any large purchase that I want to charge.

Without the credit bureau, it would be one less source of private (mis)information on individuals.

PS Credit bureaus can't be relied on to remove erroeous or corrected bad ratings.

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