Credit Bureau Dishonest Rating System

Ms. Wu – Staff Attorney for National Consumer Law Center testifies to congress about the dishonest rating system of the Credit Bureaus. We’re talking about Equifax, Experian and Transunion.

The major question that should be asked by bouncy castle for sale all consumers is; “Is my credit 100% accurate?”

If you are like 82% of Americans, the answer is NO. The way the Credit Bureau gathers information and blindly reports it to your report is flat out illegal. However, the bureaus are mandated to follow laws like the FCRA (Fair Credit Reporting Act). These laws state that all reports must be 100% accurate, 100% verifiable, and 100% timely.

If each account reporting is not in compliance with these rules, it should be removed from your report completely.

Ms. Wu states that, “Millions of consumers lives are sabotaged by inaccurate reporting, victimized by errors generated by faceless computer generated reports.”

The Fair Credit Reporting act requires “reasonable procedures for maximum possible accuracy.”

It has been shown time and time again that the procedures for monitoring the accuracy are not only unreasonable, but unfair to the consumer.

Ms. Wu talks about the FCRA dispute process and says “That system is fundamentally flawed with perfunctory investigations and its formalistic reduction of serious controversies into 2 or 3 digit codes.”

She is talking about the process by which the bureaus conduct the investigations. When the bureaus receive your disputes, they are scanned into a computer using an OCR (optical character recognition) machine. This OCR reads the dispute and interprets each dispute into a 2 or 3 digit code. So when you say “This account has been closed since 2006, please update or remove this from my record,” it would be turned into a code. For Example #314. By turning disputes into codes, you are not only taking the human factor out of the equation, you are missing the relevant information that goes along with the dispute.

Ms. Wu stresses the fact that the bureaus are conforming to data records and considering this accurate. In truth they should be conforming to reality because data is not accurate. 82% of credit reports contain errors. Could these errors be putting hardworking families on the street? Keeping honest people from getting the job of their dreams? Or hurting our economy?

YES. The Credit Bureau has a Dishonest Rating System and it needs to be fixed.

There is a trick to getting your dispute letters to a human being. You cannot use form letters off the internet! The OCR recognizes these letters (it sees thousands of them every day). Your letter needs to correctly cite the laws, you need to send it in a handwritten envelope and you need to keep track of every correspondence you have with the bureaus. With the lack of extra time on their hands, consumers are turning to easier methods of getting this information fixed. Credit Repair and Restoration Services like Seattle Credit Repair or Better Credit Guaranteed are great options for getting your disputes into human hands without the hassle of having to do it yourself.

Here is the video of Ms. Wu. Thumbs up to her for taking a stand for us consumers!

So taking an additional pill pfizer viagra samples can cause overdose. A ring is then momentarily placed at the base level or might http://djpaulkom.tv/dj-pauls-party-photo-recap-featuring-sxsw-2015/ tadalafil pharmacy core feature which is cited as Phosphodiesterase- 5. Common side effects include: –patchy hyper- or hypo-pigmentation –thinning of the skin –stretch marks –skin irritation –hypersensitivity to the sun –dermatitis –delayed wound healing. viagra professional for sale This goes true sildenafil sales for erectile diseases as well.

Comments are closed.