Personal approach best when trying to fix errors on credit report
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#1 Sep 7, 2008
These people at the credit reporting agencies,dont care if they get it right.A few big money lawsuits would get them to do the work correctley.
#2 Sep 7, 2008
I had to dispute an error. A student loan servicing company reported that I hadn't made payments, even though I was in deferment because I was in school. I didn't check my credit report while I was in school, and then the last year I was hit with an 11% interest rate on my private student loan, which I had to accept. Now I'm saddled with that bad loan for the next 30 years because the loan cannot be consolidated. I was eventually able to clear up the mistake on the report. I had to initiate an investigation with TransUnion which gave me a report within a couple of days, which did not clear up the report. I figured they did no investigation, so I had them do another investigation, same result. In the end I had to write letters, with supporting documentation of my deferment, to my college, the loan servicer, and TransUnion, and make phone calls to them. The loan servicer would not change the reporting. Eventually the college got on the case of the loan servicer, who corrected the mistake with TransUnion. So, it's all fixed, but I'm still screwed by the high interest loan. I suppose I can sue, but the cost would probably be more than the interest savings.
#3 Sep 9, 2008
A person with the same name and a similar background, from what I am able to deduce, has their credit stuff mixed up with mine. The banks and credit places won't fix it, they tell me they have investigated but do not consider it fraud. So the mistakes won't be corrected. Well, this other person has now died, and now these credit places are after me! I've gone to the police and made a report but other than this, they won't do anything because they say it's questionable if a law has been broken and besides thsi other person who has my name lived across the country. The FBI and the like won't get involve d because the amounts are under 100,000.
#4 Sep 9, 2008
I wish there was a way we could do away with the credit reporting system. It is slanted against the consumer and for the creditors.
If I find any errors that they won't fix I might sure for libel.
Also I had a client who wanted to buy a house last year and who had never obtained a credit card all her life (she was in her mid-forties) but had saved and paid cash all her life, She no BAD credit but was told that no history was even worse. Her score was low w/o some history she couldn't get a mortgage at all which is a shame. She wa penalized for being a good steward of her money and staying out of debt.
This whole credit reporting system is just too big-brother to me. I had a cc company double my interest raet on a line of credsit because of something they said they saw on my credit report but they won't say what.
That should be illegal.
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