Credit Injustice

Credit Reporting Companies have little economic incentive to conduct proper disputes or improve their investigations. In fact, it costs the credit bureau only $0.57 to deal with each dispute letter. We know this because they outsourced this job to an outside vendor. The chance that a first dispute letter will make any difference is rather small. These outside vendors don't have the time or resources to deal with serious disputes. It takes experts to navigate these hurtles. The bureaus merely "parrot" the same furnisher's results and don't conduct Independence review.

Nearly 40 years ago the Fair Credit Reporting Act (FCRA) was enacted. One of the most important safegaurds in the FCRA is the requirement that credit bureaus conduct a reasonable investigation when there is a dispute. However most bureaus just code the dispute letter with a two or three digit code, this is a huge travesty of justice. Workers do not examine the documented or contact customers by phone or email.

Even if a consumer disputes an item on their credit report, they are little to no chance at getting it removed whether it is accurate or not. The only way we have found is by creating a paper-trail and documenting the violations of the law. The bureaus are eventually forced to take action if you get past the automatic rejection machine at the first three levels.

We actually show consumers how to reach humans at the credit bureaus and how to be taken seriously, and to get results. 
Webmaster *,
Mar 21, 2011, 3:42 PM