Jump to content

This will start a good debate


Recommended Posts

Lol sparky!

Gunny, while it is true that the INFO contained in your CR is ABOUT you, the CRA has a right to gather this info and sell it. It is their product. I think many aspects of this industry SUCK, but it's really no different than any other data collection, just that in the case of a CR, it's VERY personal and if incorrect can be VERY harmful to the object person.

As far as the score goes, that is something they CREATE, so it's definately theirs.

Just MHO...

Link to comment
Share on other sites

Personally I think we should be able to get our CR for free anytime we want it so that we could check the accuracy of the information in it (Insert Laughter Here)

I have never yet met a person who has had an accurate CR or without at least 1 Error in it.

It is really sad to think about all of the false information about people out there.

Link to comment
Share on other sites

Neatly compiled data about our financial affairs do not belong to us. The TL's of course belong only to us. Essentially we all have our own biographer that believes our trades are the sum total of our lives and worth.

And, we're not even their clients, they are just legally obligated to investigate possible mistruths contained therein.

Last, we do get it free yearly and several other circumstances. Really the only time we need to pay for one is when there is no universably arguable need to have one.

Link to comment
Share on other sites

I think a "consumer report" of your credit report should be free for the consumer online. A written credit report should cost a little to cover the cost of printing/mailing, but no more than $3. These "consumer reports" would be unofficial and contain only your name(s), address(es), a general list of accounts, their general status, and amounts. No dates, no addresses, etc. A full "official" copy should remain as it is now. Any database that maintains information about a consumer that could be potentially detrimental should have to provide that information to the consumer so they have the chance to dispute it should it be erroneous, not just the CRAs.

FICO scores should remain as they are. While they are important to your credit, they don't give away any potentially erroneous information about you the way a credit report does.

Potential creditors should have to pay to get a complete copy of your credit report, and pay again to get your FICO score, and they should not have access to the more unofficial "consumer report", only the full official report. Yes, that means you'd end up with an "application fee" being more common, but I also think it would force creditors to use other criteria and not just credit reports/scores, since people would still prefer the places that did not charge an application fee or charged a lower on, forcing them to eat some of the cost for the sake of competition. That, in turn, would force them to change tactics.

If they had to pay $15 every time they pulled your report, and another $15 for your score, they'd be much more likely to develop a system that takes other things into account before they pull your report and/or score. That puts your actual credit & FICO information in secondary position and gives you a foot in the door. It makes us individuals again, and not just data on a piece of paper.

Link to comment
Share on other sites

Neatly compiled data about our financial affairs do not belong to us. The TL's of course belong only to us. Essentially we all have our own biographer that believes our trades are the sum total of our lives and worth.

And, we're not even their clients, they are just legally obligated to investigate possible mistruths contained therein.

Last, we do get it free yearly and several other circumstances. Really the only time we need to pay for one is when there is no universably arguable need to have one.

Yep, what he said.

Link to comment
Share on other sites

What I think is the fact that if they put info on our report without being able to verify it it should be a whole lot easier process to correct it. The cra's make it next to impossible to have the right info on our cr. I have had an ilustrious career in the Marine corps, I have fought for this country on six different occasions. Now that I am retired I am a piece of crap to the the credit industry mainly because I paid cash for everything over the years.

That is what I think is unfair about the credit industry, when applying for credit the condier what type of person you are based on a stupid (insert choice words here) number. The guy next door to me has a lengthy police record, I know of several times he has been arrested in the past six months, but he drives a Lexsis, and own twelve rentals, cause of a friggin number. I gave parts of my body for tis country and now can only do certain jobs, but because I always paid cash and have a lack of credit history cept for negatives that were put on it while I was i Iraq and got sued several times. Now THAT sucks

Link to comment
Share on other sites

Gunny,

We could get caught up in the details of your situation and go on and on. Or we could do it the way the Marines do it when asked to kick a$$ for this country.

Just cut to the chase: That's BULLSH*T!

You shouldn't be in this preDICKerment! It ain't right.

Let's get on board and help Gunny out, folks! I'm no expert in credit repair. I'm just a rookie, but I'll give what advise I can. There are some real pros around this board, maybe they can help you get things right, quickly.

Link to comment
Share on other sites

Im not sayin Iam the only one in a predicament but what the heck does it taake to get some decent numbers here. I am trying to get a VA mortgage but with the two judgments and the lack of credit I cant get squat.

The only thing have got so far is a measley card from First premier and its junk.

I got a new truck but only because I paid half of the selling price as a down payment.

But any way I kinda got off the subject here.

What I think I was trying to say is the info in those reports are about us and we should have an easier way to correct or delete them when it is reported wrong. With out the everyday consumer the CRA's would be out of business.

Link to comment
Share on other sites

looksbothways, I like your thinking.

If you think about it. In the "old days", I couldn't just walk into, let's say American Express's office or the Power Company or your Employer, and start rifling through their files looking for your account history and any other personal info that you choose (or had to) share WITH JUST THEM. But allowing anybody with a "permissable purpose" to access your CR via the internet IS EXCATLY THE SAME THING!

It ain't right.

Link to comment
Share on other sites

Gunny,

The auto loan will start having very positive effect on your score pretty quickly (at least it did for me). I had to put down more then half on my auto loan, but I also wanted a low payment and 24 month loan. In little more than 12 months, I went from sub 600's to over 700.

Lots O credit to the folks and info from this board!

Now we got to get the baddies off your CR's.

Link to comment
Share on other sites

I don't think I have ever paid for my credit report, BTO. I get my annual free report from all three bureaus and then get an update everytime I dispute something. It's not that big of a deal. I pay for my credit monitoring service, but that's my choice. I wouldn't HAVE to have a credit monitoring service just to get my reports.

It takes a lot of hard work to improve your credit, BTO - I've seen you around these boards a lot lately, so you should be absorbing quite a bit. I did a lot more reading than posting for my first six months here. And even more time writing letters and going to the post office, studying my reports, and so forth. And my scores have jumped almost 100 pts. in a year. It will happen for you too, but you have to make it happen.

Link to comment
Share on other sites

What I think is the fact that if they put info on our report without being able to verify it it should be a whole lot easier process to correct it. The cra's make it next to impossible to have the right info on our cr.
But the CRAs don't put anything on your report.
Link to comment
Share on other sites

Im not saying Im gonna give up. I did make it 26 years i the corps by giving up. I ust have a lot of ideas in my head ad if I dont put them out there for discussion we may get answers for things we need or sometimes just for others curiosity.

Link to comment
Share on other sites

Im not saying Im gonna give up. I did make it 26 years i the corps by giving up. I ust have a lot of ideas in my head ad if I dont put them out there for discussion we may get answers for things we need or sometimes just for others curiosity.

Thats always a good thing to do.

Just don't over think it.

Most of the advice here works great it just takes some time and persistance to get it done.

Link to comment
Share on other sites

I don't think I have ever paid for my credit report, BTO. I get my annual free report from all three bureaus and then get an update everytime I dispute something. ...

That's pretty much how I have done it too, Leslie. I have never paid for a CR, at least not yet anyway. If you keep the timing right, the updated report you get after a dispute will last long enough to make other changes to your CR. Looking back though, I probably spent way more time doing my CR clean up then I needed to. But, I wasn't as in-the know-then as I am now. Again, props and thanks to the info and helpful peeps here!

I use PM123 for monitoring and pulling ($29/year). I haven't seen anything "better". The scores are FAKO's, but who cares. WaMu gives me a TU FICO for free, so I'm good. Once you get your CR's pretty cleaned up and the dust has settled from the battles, the PM123 FAKO's seem pretty close to dem store bought FICO's day be sellin'.

But the CRAs don't put anything on your report.

VeVe, although the CRA's do not "generate" the info that's is in someones CR's (other than FAs) they do control, to some extent, what gets thru or what is blocked from the info that comes to them. I think that's what some people are refering to when they talk about the CRAs "putting" info on their CR.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.