REMOVING BAD CREDIT -CREDIT REPAIR
"Credit Repair" has not been kind to the American consumer. In fact, the phrase is synonymous with fraud. This is the challenge we face as we offer credit repair, wherein the client is offered an alternative to credit prison. Because the reputation of credit repair sometimes washes over into our space, we are often called upon to defend the ethics of performing credit repair.
Despite the disrepute which taints credit repair, our service is clearly analogous to the service provided by a defense attorney. The credit report is no more than an allegation. Unfortunately, most consumers never challenge that allegation. Our clients employ us to enter a plea of "not guilty." We take an affirmative defense; we offer a reasonable alibi and leave it to the bureaus to substantiate their allegation. If the credit bureau claims to have investigated and affirmed the allegation, we appeal the decision. Eventually, we find that most credit report allegations are untenable and furthermore indefensible and are removed.
Removing a negative credit record, which did actually exist, is undoubtedly ethically sound.
The consumer belongs to a fundamentally capitalistic civilization and the credit bureaus capitalize on consumer information and consumer misfortunes. Unlike our legal system, the credit bureaus take no oath to tell the truth, no regard to equity and the common good.
No American has the moral obligation to support any business venture or corporation, much less a corporation which may well destroy their life. The information tended by the credit bureaus is ethically questionable. The credit bureaus would maintain every piece of credit information forever if it were not for federal laws, which has directed them to remove most items after seven years. In essence, the credit bureaus themselves practice credit repair, basically at the seven year mark. But they jump up and down at the thought of credit repair and credit repair companies.
If it is OK to remove accurate credit accounts after seven years, why would it be wrong to do so in less time?
In relation to the consumer, the credit bureaus do not concern themselves with the impact of the information. This bad information often misrepresents the credit worthiness of the consumer. By tagging good consumers as "deadbeats" the credit bureaus damage to the creditor, the economy and, most importantly, the consumer.
Several policies and techniques employed by the credit bureaus appear most abusive to the American consumer; these we cite as justification of our opposition to the present credit reporting system. Seven years of credit bondage punishes the debtor unjustly. At no point have the credit bureaus ever conducted a study determining seven years to be the point, that a consumer miraculously become worthy of credit.. Yes, credit repair is very right. Credit repair is alive and well. Credit repair works.
The seven year mark is entirely arbitrarily. In fact, an adviser to President Bush on consumer affairs, said most consumers, after a financial setback is usually back on their feet in two years. Experience tells us, that seven years is too long of a sentence. Within a couple of years, most consumers completely recover from an economic crisis. For the remaining five years, they are forced to rent homes, pay outrageous interest rates on auto loans, outlandish interest on credit cards. You reckon there is a financial motive to keep your credit score low. You betcha. It means billions of dollars. It comes, as no surprise, that the credit card companies, and the credit bureaus ,would spend millions to put out the propaganda that credit repair doesn't work and credit repair companies can't do anything that you can do. It's a campaign launched against the credit repair companies only, because they know, we know the law, and that we are successful. Credit repair does work and credit repair is alive and well.
By expelling the consumer from the credit loop, the economy suffers. Our clients come to us on the financial upswing. If they can afford the cost of credit repair they are most likely on the way back to financial abundance. These are consumers fully recovered from crisis, re-engaged to financial responsibility and anxious to reenter the credit economy. For them, we offer a deserved parole and full pardon from the credit prison which they entered as their financial world fell apart.
Why the war on credit repair and credit repair companies? The credit bureaus have not been able to maintain reasonable accuracy in their credit reports.
The bureaus claim an error ratio under 1 percent. In reality, studies conducted by a consumer neutral third party, have determined the credit report error ratio to be as high as 70 percent. Unfortunately, for the consumer, the credit bureaus choose to err on the side of negative information.
We have heard of a high incidence of file mergers---the worst kind of file error. In a file merger, the credit of another person with a similar name is spread onto the file of the innocent bystander. Oddly, the credit bureaus fiercely resist correction of these obvious credit report errors. We have noticed the only way to prompt them to make corrections is through a lawsuit. Credit reporting makes up only a small portion of the revenue which the bureaus claim each year.
The databases really pay off in the sales of information. From generic target marketing lists to invasive personal investigative inquires, the credit bureaus cull a pool of information larger than any in the world. The end loser is the consumer who values his privacy.
This does not include the mass irritation experienced by consumers forced to wade through the reams of junk mail. We should feel comfortable knowing that the removal of negative credit accounts before the seven year mark isn't unpatriotic, it's not unfair and it's not wrong. Just the contrary, you have an obligation to make sure that your credit report contains no errors. Credit repair does work. In this website, I have credit repair information and a credit repair guide for the consumer that is up to the challenge of credit repair.
If you don't want to do your own credit repair, I certainly understand. Give us a call, or fill out the contact form, and we will discuss our strategy. CONTACT US
Congress Says The Credit Bureaus Need To Be Watched:
Congressional findings and statement of purpose [15 U.S.c. § 1681]
(a) Fair and Accurate credit reporting by the Consumer Credit Reporting Agencies
(1) The banking system is dependent upon fair and accurate credit reporting.Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system.
(2) An elaborate mechanism has been developed for investigating and evaluating the credit worthiness, credit standing, credit capacity, character, and general reputation of consumers. by the credit consumer reporting agencies
(3) Consumer reporting agencies have assumed a vital role in assembling and evaluating consumer credit and other information on the consumer.
4) There is a need to insure that consumer reporting agencies exercise their grave Responsibility.
November 3, 2009
SCHUMER UNVEILS NEW PLAN TO MAKE CREDIT REPORTING COMPANIES ADVERTISING 'FREE' CREDIT REPORTS ACTUALLY GIVE YOU A CREDIT REPORT FOR FREE - BUST UP SCAM ONCE AND FOR ALL
Credit Reporting Companies Bombard Consumers with Ads offering to Give a You Free Credit Report But Actually Make You Sign up for a Costly Monthly Subscription.
Schumer Plan Would Require Companies that Offer Free Credit Reports to Show Reports BEFORE They Take Credit Card Information So Consumers Don't Buy a Subscription to Their Service Companies Make Millions Even Though Gov't Provides Credit Reports Free to Everyone.
Consumer Credit Reporting Agencies Would Be Required to Disclose in TV Ads that Gov't Already Requires a Credit Report be Provided for Free, Same As They Have to Online and in Print Credit Reporting Companies Bombard NY'ers With Ads Offering to Give a Free Credit Report But Actually Make You Sign up for a Costly Monthly Subscription Schumer Plan Would Require Companies that Offer Free Credit Reports to Show Reports BEFORE They Take Credit Card Information So Consumers Don't Buy a Subscription to Their Service Companies Make Millions Even Though Gov't Provides Credit Reports Free to Everyone .