The Credit Robbers - A Stacked Deck.
Sadly Stated- “We live in a society that determines our net worth and value as a human being by the type of credit score we have. If your credit report is good, chances are you will receive and partake of some of the better things in life. But on the other end of the spectrum, the opposite couldn’t be more true if your credit report is bad. There are very few creditors who will extend good credit to people with poor or bad credit.”
But what if that bad credit wasn’t your fault? What if you had to make the simple choice between eating and making your car payment? What if a job lay-off, a medical emergency, or some other personal crisis prevented you from making a timely payment? Should you always be forced to pay for this for the next seven to ten years?
Our current system has given the credit bureaus incredible authority. They are judge and jury in relation to your credit file/credit score. Although, there is one difference. A judge will at least give you the chance to defend yourself in a court of law before passing judgment. In America we are SUPPOSED to have a chance to face our accusers BEFORE judgment is passed. This is entirely untrue when it comes to your credit file.
In my opinion, this is a run-away freight train, going downhill, with no brakes!
FACT: Your creditors and the credit bureaus have been swapping information about you behind your back for a very long time, month after month, year after year. You are not asked or given any benefit of defense when this happens. It is in effect legal gossip and data collection to prepare your personal credit score.
FACT: The system, as it stands today, does not give you the opportunity to defend yourself before inscribing your credit file with negative information, even if it is not yours!
[You may not even know when they do it!]
When you finally discover what they have done, YOU must prove to them that the negative information on your credit file is incorrect, invalid or otherwise erroneous before they will remove it. That means in their eyes, you are GUILTY until proven INNOCENT.
Alert: It may take several attempts, before they remove the false and or inaccurate information from your credit file.
You might wonder how a system like this is allowed to operate in our DEMOCRACY, in a country where we’ve been brought up to believe that a person is innocent until proven guilty. Why aren’t we extended some courtesy by the credit bureaus? Why don’t they give us a chance to defend ourselves before posting negative information to our credit files?
The Simple answer … THEY DON’T HAVE TO!
The credit bureaus are private companies and corporations. They are in business to make a profit. And that profit comes from one place and one place only - YOUR CREDITORS.
Your creditors pay to see your credit file information and believe it to be true and correct. They also reciprocate by exchanging your credit information with the credit bureaus. Thus, your creditors pay the credit bureaus and the credit bureaus are in business to make a profit.
Unfortunately you are irrelevant to them and are just another number in the vast data bank of numbers. Your credit report and the information it contains are not important or of any consequence to anyone but you. In essence, that is why you are the only one that can do anything about it.
If you have bad credit and have done your best to make timely payments but couldn’t because of a personal problem or another, should you pay for this both financially and emotionally for the next seven to ten years?
Everyone deserves a second chance, especially in a broken credit reporting system.
Although YOU CAN remove past negative information it will take time and tenacity. The process is simple but it’s not easy. It will take some work on your part, but if you’re serious about getting a second chance, you won’t mind.
Robert Miller, Ph.D.
Investigations Analyst
TheCreditRobbers.com
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