Are the Credit Bureaus Really Helping Us

Do you need help repairing your credit? Do you need help understanding what a FICO score is? Well here is a breath of fresh air.

The credit repair bureaus do not make a dime when honoring the FCRA (Fair Credit Reporting Act) laws and regulations. The credit bureaus are required by law, to investigate all disputes requested by consumers, which in turn costs them millions of dollars a year. To help cut costs and save money, the credit bureaus do 2 things which you need to know about.

#1 They sell you what you don't need and hope you give up. That's right; a majority of the credit reports offered on the Internet can't be used to repair your credit. If the credit reports you order don't have a File Number, a Confirmation number, or a Report number, you can't repair your credit!

So what happens? You try your best to launch a dispute, you find it almost impossible, you spend more money on new reports, you get frustrated, and you finally give up. Once you have given up, you have saved the credit bureaus a lot of money.

#2 They sell you what you don't need again, and then they sell You. They keep trying to sell you credit reports and credit monitoring services, scaring you with identity theft and the fear of not knowing your credit score. Then they sell your personal information to any company willing to pay for it; credit card offers, debt solutions, credit counseling, mortgage offers, etc. In other words, they allow companies to try and sell you back into debt.

The bottom line is this. The credit bureaus are private companies and they operate as such. There are so many flaws in the credit scoring system, and the way the credit bureaus operate, it's almost criminal. I still get amazed by the fact that we all have three scores and sometimes they vary by more than 100 points. Believe it or not, I see it all the time. I could go on for hours and hours but I won't, I'll save that for the next article.

In the meantime, I recommend checking out www.loansaverpro.net, it's a system that I know gives real results and can be trusted.

About The Author Todd Disraeli has been repairing credit for borrowers in the mortgage industry for over 10 years. Todd's service is offered to those who can pay and those who can not, he helps hundreds who have real needs. Although he might seem controversial at times he speaks the truth whether the credit bureaus like it or not. Todd Disraeli Copyright 2004-2005 tdisraeli@loansaverpro.com

This article was posted on January 25, 2005



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