Quote:
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"The adjustments are expected to raise the median score for consumers whose only major delinquency is an unpaid medical bill by 25 points"....
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Knew where you were going....assessing consumer credit on all credit product lines -- mortgages, auto loans, credit cards and personal loans.....
Mistakes on credit reports is a big issue. I read years ago as much as 60% of credit reports across America have mistakes, serious enough to be denied financing.
Since so much is gauged upon our credit. It is the individual whom is not benefiting and end pays more, because of outdated or incorrect information, or mistakes listed on their credit reports. Reporting financial information to the credit bureaus is currently voluntary. My opinion there needs to be more regulation for the reporting Credit Bureaus, and any party that accepts financing and payment term on both secured and unsecured debt.
- Generally negative items are reported only when there are late payments. When the situation is resolved, the negative information remains on the credit report with no updated information.
- Good or bad information to be continually updated until the debt is satisfied by the reporting party.
- This rule would be hard to enforce, but after a number of of reported occurrences. The party not updating the information would be fined.
- This could be regulated by the credit bureaus.
Sometimes think putting the carriage before the horse.... Our economy is based on how much is spent in our country that is being reported by company's. Any regulation to make help the individual spend less, so the business receive less. (wishful thinking...lol)..
Followed links on page concerning credit. Recently checked my credit report - 1st going through Annualcreditreport and 2nd through Creditkarma. After following the links on their websites.
The so called "Free Credit Report" was like walking through a field of landmines to avoid paying for a free report. .....
After giving personal information and a separate email, have noticed many new alerts about my credit from companies I never heard off. It is apparent websites like Annualcreditreport and Creditkarma are capture sites to collect personal information. Strong recommendation is to going directly the credit bureau sites to protect ones privacy. (Felt violated after giving up my personal information).
Ended up being forwarded (landing) directly to the home page of Transunion, Experien, and Equifax websites. The sites tricked me in releasing my own personal information, when I did not have to. I could of went directly to the credit bureau sites.
Transunion was to only site was able to view my report on line (no scoring). Equifax and Experian had messages they were no longer accepting online requests, were only excepting written requests.
Felt scammed was lead to believe could view all three online.... Not!!!
Direct links below
- Experian Free Credit Report You can complete the Request Form and mail it to:Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281
- Equifax Free Credit ReportRequest your free copy of your credit file by mail:Equifax Disclosure Department, P.O. Box 740241, Atlanta, GA 30374
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