“Fix your credit”, easy process. So says many internet ads I read daily. I thought, well, that should be easy without their help since the FEDERAL law requires it. THE law says “a credit bureau, when proven their data are wrong, must correct the error[s] within 30 days. REALLY? Ok. NOW, has anyone CONVINCED the bureaus? Apparently not!

HOW can I say that with such conviction? Cause I am now dealing with the FTC [Federal Trade Commission] to get my bureau reports corrected!!! THE BLOODY FTC had to be contacted. That SEEMS like having to call the FBI when the neighbors steal your newspaper when you have a front-of-the-house security camera!

My story is important, thus my rantings! It can help you.

I am a real estate broker. Part of my tasks-- when I help someone to buy a property--NOW includes making sure they have good credit if they choose to use an institutional lender.

It seemed to me I can’t guide others very well if I can’t get control over my own record!

I reviewed my records from several years ago and laughed at the errors. And the “pulls”; a notice that a broker or lender reviewed my credit with one or more of the 3 MAIN bureaus. I had at one time 160 pulls reported. That was and is excessive and it did drop my score. I asked the three bureaus, individually, via snail mail “how much did my score drop from these pulls? They did not answer--that was 3 years ago. When I finally received in snail mail, my three scores, I was given such numbers as 815, 800 and 740 [each bureau gives a separate score in a tri-merge PULL]. Interesting numbers. Since I am also a college instructor of business, I like to know where numbers that others use, originate--[meaning, what math or formula is being used to arrive at a consequential number]? Again, from the three bureaus, NO answer.

Hmmm.

I inevitably got a few loans for my clients and for myself.

Then one of my mortgage brokers told me he needed help--he wanted my correct social security number-- since more than one was listed on a bureau’s report. I felt his comment was the dumbest joke I had ever heard--“no bureau is going to be that stupid to list two social security numbers!” He was correct--Experian had listed two for me. I called Experian. “Sorry, we do not comment on data on the reports.” Huh? Federal law? “We are not interested in the Federal law.” Huh? THE USA federal law that governs what you can and cannot do?

“We do not care what the federal government says or does.”

NO way!!

I hired an attorney to investigate as this situation was beyond my comprehension. Two weeks later I got a response from Experian. “We do not respond to second party queries [meaning from attorneys].”

That was as funny as it was absurd. When they get a judge’s judgment, I want to hear them say that as they are led to jail!

I got an update from the other two bureaus. One has given me 6 different names, an address I never lived at, and other absurdities. And of course, no score printed. Only the banks and brokers who subscribe to their service get client's scores.

I sent Experian proof of who I was and where I lived. “We are not interested. IF you want to correct something, apply for new credit. Whatever is on that report will be your new data reported.” They were serious!

I contacted my AZ attorney general. They were not interested. I contacted my federal Senators and representatives. They were not interested. I cannot easily believe that Experian and the other two bureaus have our government in their pockets.

ONE article re. inaccurate data said to contact the FTC. I did so. Experian informed me via snail mail said they got the FTC report or query and are answering it. Experian again asked for proof of my real birth date. Since it is accurate on about 500 documents they have and wrong on one, I will leave it wrong.

NOW, when a client asks me about his credit, I actually say; the following are facts and make little sense when viewed together;

A; all credit report’s scores increase when one pays off debts perfectly.
B; all scores are ARBITRARY numbers and thus, have no specific meaning.
C; all negative data on one's reports falls off after seven years [or sooner].
D; most, if not all, good data on reports can stay on indefinitely.

NO action on the part of any bureau, law firm or company can get any specific report modified IF the bureau wishes not to change it and no specific score can be altered to gain or lose any specific number --it is random and arbitrary.

With this in mind, it makes no sense whatever why any financial institution uses these Bureau’s scores to guide them on a lending basis.

YOU can have a score of 250 and if you make every payment perfectly thereafter, in seven years, Your score will rise to 800 or higher. That is a fact.

Banks and mortgage firms want customers to fight with the bureaus to get scores with errors corrected--but that is illogical since the bureaus do not care and rarely change anything.

IF you have different facts, plz send them to me. I wish this year, that the 3 bureaus Face competition and disappear.