Why Credit Bureaus Suck
We take financial matters seriously, especially credit scores. Our entire philosophy is based on guiding readers, like you, to better money-management tactics and higher credit scores. Your three-digit credit score plays a mighty important role, which is something we have reiterated. And that’s the whole reason for this particular title.
You may be wondering why we are expressing ourselves like an angst-ridden teenager, but sometimes there is no other way than to say it just the way it is.
Why Credit Bureaus Suck
Credit scores are such an integral part of our lives. The credit bureaus owe it to us to present an accurate, honest report that reflects our spending behavior without any errors. Now, no system is perfect; we get that. There is bound to be an error or two. If there is an error, the credit bureau should immediately set out to correct the mistake before it can pull down your score for absolutely no fault of your own.
The truth is that most disputes are handled by an automated system known as the e-OSCAR that does nothing more than send the error report directly to the lender.
The Villain of The Piece
There are three major credit bureaus that generate our credit scores and showcase creditworthiness to lenders and insurers. The big three are TransUnion, Experian, and Equifax. All three will attest to their accurate, error-free record keeping of your financial habits. But when they receive consumer complaints in excess of 20,000 a day, all accountability goes out the window. All that matters is addressing the issue, and addressing it fast. The keyword here is fast.
This is where the e-OSCAR comes in. If you observe an error on your credit report and raise a red flag with the concerned credit bureau, more often than not your complaint is emailed to the lender. Once they receive the complaint, most of the lenders will just re-report the same erroneous data.
The result is that you go around in circles trying to fix an error not of your doing, while the credit bureaus play hooky with your complaint.
All The Power, None of The Responsibility
A great man (actually Uncle Parker) once said, “With great power comes great responsibility.” The three credit bureaus seem to be only interested in generating credit reports rather than accurately maintaining them.
Luckily, experienced and viable credit repair professionals can contend with the worst credit bureau practices. We fight on your behalf.
If you’re discouraged by your own efforts to repair your credit, perhaps it’s time to invest in a professional. At Action Credit Repair, our experts will provide a personalized credit consultation, an audit of your credit history, and offer solutions to all of your credit obstacles. Contact us today to speak with an experienced professional: Call 518-945-2299 or email firstname.lastname@example.org.