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The Abuse of the Credit Rating System
Comments
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Adindas - you don't HAVE to pay for your credit file. I've never paid to see mine, i've never needed to. We're not talking about hundreds of pounds here, in the grand scheme of things it's a very small amount. Some people are happy to pay it, some aren't. It still doesn't mean they don't serve a purpose.
http://www.consumeraffairs.com/privacy/experian.html This link is from people in the US who are complaining about paying for their credit files. You keep stating that "it's free in the US" ???
May I ask you are you working for CRAs or for the lenders, banks, utility companies, etc. It seems to me you are blindly defending the CRAs. If the answer was yes then no wonder as you are part of the collusion ....
You said you do not need to pay as you have never needed your credit report. Well, you must be among the lucky one that your credit records do not get messed up by these companies.
What about someday your credit file got messed up without you realizing it (not your fault but due to inaccuracy) and you are applying for a major credit such as mortgage, sizable loan, etc. Could you still say "i've never needed to". if the answer was yes then I would let other people in this forum to judge your statement.
Do search in this forum there are reasonable number of people have been spending a lot of unnecessary resources, in term of time, money just to remove the inaccuracy in their file. Keep in mind removing or correction is not that simple. In a tiny minority when people are lucky, yes but the vast majority are not.
People never ask their file to be recorded. Worse the CRAs are making money by selling people records. Indeed, the CRAs get permission from people via bank to agree to their data be fed to CRA or else their application will not be approved (another example of how the power are playing the role here). However people never give permission their records to be sold to the third party.
I do not read the link you provide as from your description it seems those people do not understand the difference between credit file and credit score. Also because I am 100% sure in the US credit file (not the score) is free of charge. You are welcome to prove it wrong ...
Read here:
http://en.wikipedia.org/wiki/Credit_score_in_the_United_States0 -
With that process i have no qualms, however, as we seem to keep going round in circles i'll say it out loud because you seem to be hard of hearing:
IT IS THE ABUSE OF THE SYSTEM BY LARGE COMPANIES WHEN THERE IS NO REAL DEBT JUST THIER INABILITY TO MANAGE CUSTOMER ACCOUNTS EFFECTIVELY
that we are discussing not the reasonable process by which continual defaulters are screwing us all.
They didn't manage your account effectively, but then neither did you.
The system didn't work for you; it doesn't mean the system is broken. Move on - in the grand scheme of things what happened to you doesn't matter all that much.0 -
suicidebob wrote: »They didn't manage your account effectively, but then neither did you.
The system didn't work for you; it doesn't mean the system is broken. Move on - in the grand scheme of things what happened to you doesn't matter all that much.
Apart from the fact that it appears to be happening to others all as individuals with regularity!
So we can all get bullied and abused and it's all ok.
Nothing to see move on now, we've got all these other punter to shaft now will you little people please stop complaining and let us look after our interests :dance:0 -
Apart from the fact that it appears to be happening to others all as individuals with regularity!
So we can all get bullied and abused and it's all ok.
Nothing to see move on now, we've got all these other punter to shaft now will you little people please stop complaining and let us look after our interests :dance:
It happens to very few. And the problems usually get fixed. Like yours did.
A tiny % of people have a legitimate problem, you complain, it gets fixed.
The system works. You're the evidence of that.0 -
May I ask you are you working for CRAs or for the lenders, banks, utility companies, etc. It seems to me you are blindly defending the CRAs. If the answer was yes then no wonder as you are part of the collusion ....
You said you do not need to pay as you have never needed your credit report. Well, you must be among the lucky one that your credit records do not get messed up by these companies.
What about someday your credit file got messed up without you realizing it (not your fault but due to inaccuracy) and you are applying for a major credit such as mortgage, sizable loan, etc. Could you still say "i've never needed to". if the answer was yes then I would let other people in this forum to judge your statement.
Do search in this forum there are reasonable number of people have been spending a lot of unnecessary resources, in term of time, money just to remove the inaccuracy in their file. Keep in mind removing or correction is not that simple. In a tiny minority when people are lucky, yes but the vast majority are not.
People never ask their file to be recorded. Worse the CRAs are making money by selling people records. Indeed, the CRAs get permission from people via bank to agree to their data be fed to CRA or else their application will not be approved (another example of how the power are playing the role here). However people never give permission their records to be sold to the third party.
I do not read the link you provide as from your description it seems those people do not understand the difference between credit file and credit score. Also because I am 100% sure in the US credit file (not the score) is free of charge. You are welcome to prove it wrong ...
Read here:
http://en.wikipedia.org/wiki/Credit_score_in_the_United_States
The link was one i requoted from YOUR post. Did you not read it before posting it ?0 -
The link was one i requoted from YOUR post. Did you not read it before posting it ?
I said. I do not need CRA, borrowers do not need CRA.
But because borrowers needs lenders and lenders use CRA borrowers we have been left with no other option then to check our file and then pay for it.
Now Yes/No question
If the CRAs do not records people data and CRA never make mistake, do ever need to check their data ? No
Now your turn to answer this yes/no question ?
Are you working for CRAs, bank, or utility companies (be honest) ! Although it has been asked it seems you refuse to answer this simple question. This is important so the people in this thread could see where you are coming from ....
Are the people in the US pay to check their credit file ? Yes or No ?
To remind you you said yes, I have proven it No and the challenge it for you to prove it wrong ....
There are already reasonable number of posts here reporting how the CRAs mess up their file and make the life of people become misarable ....0 -
usefulmale wrote: »We managed perfectly well before CRAs existed.
There was a far tougher regime in the era's before.0 -
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Thrugelmir wrote: »There was a far tougher regime in the era's before.
Indeed there was. Debt was much less widespread and bankruptcy was not a badge of honour like now. Better days.0 -
Adindas - please read this :
Are the people in the US pay to check their credit file ? Yes or No ?
To remind you you said yes, I have proven it No and the challenge it for you to prove it wrong ....
YOU posted THIS link :
http://www.consumeraffairs.com/privacy/experian.html
These are AMERICAN people complaining about paying for their records. I didn't quote this, YOU did. Now you say you've proved it wrong ????? Really ? Read the link again.
You obviously don't read the posts as i've already explained how i'm involved with the CRA's. I don't need to justify how or why i use the CRA's in my work. The number of complaints about them is very small in context with the amount of information they hold.
You don't like the CRA's, thats fine, you don't seem to remember what you've posted so it's a bit of a waste of time for me now, you have you opinions, i have mine. Thats life.0
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