DIY Credit Repair: Top 4 Myths About Credit Bureaus

Myth #1. The BIG 3 CREDIT BUREAUS [Big 3 CB’s] are Government Agencies.  Not true!

The BIG 3 CB’s are Equifax, Experian and Transunion.  And they are privately owned businesses.

I repeat, the Big 3 Credit Bureaus are  NOT U.S. Government Agencies.

Many people fear the Credit Bureaus as much as they do the I.R.S. But understanding that the BIG 3 CB’s earn their money by selling your information to other businesses,  should help you gain the confidence to contact them like you would any other Business.

Myth #2: The BIG 3 CB’s are unregulated, so they can do what they want. This is False!. Credit Bureaus have to adhere to many U.S. Federal Laws. In addition there are many Laws that protect you, the consumer from unfair practices or inaccurate  information being listed on your Credit Report.

Myth #3 You have the right to “REMOVE” negative and ‘accurate’ information from your Credit Report.

No, you don’t. Don’t confuse negative ‘inaccurate’ information with negative ‘accurate’ information.  If the information on your Credit Report is deemed ‘accurate’, that info can stay on your Credit Report for up to 7 years.

Although you have the right to file a dispute, the question becomes when should you file a Credit Dispute.

Myth #4, FICO Scores range as high as they can go. Not true. FAIR ISSAC COMPANY (FICO) Scores range from around 350 to 850. Anything around 500 is considered a HIGH RISK while 650 or higher is  a LOW to MODERATE Risk.

The BIG 3 CB’s use your information as reported to FICO (another business – not a Governmental Agency. The BIG 3 CB’s determine your Credit Worthiness based, primarily,  on your personal information stored in the FICO Data Base.

Trust me, these are just 4 of hundreds of myths surrounding Do it yourself Credit Repair.

Discover how to safely dispute and repair your Credit for yourself!

If you want to repair your Credit for YOURSELF in a safe, legal, reliable and responsible way, we invite you to purchase Operation 3 (self-help) Credit Repair included in the DEBT WARRIORS ARSENAL.

In Operation Credit Repair Debt Warriors show you:

• How to locate all false information on your Credit Report!
• How to properly file a Credit Dispute without it being ignored as ‘frivolous’ by the Big 3 Credit Bureaus!
• How to successfully get a written response within 10 days!
• How to have negative and inaccurate information deleted within 30 business days!

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DEBT WARRIORS™ are not Attorneys. The information on this blog, should not be considered legal advice.

The First Step To Correcting Credit Errors For Yourself (Video)

A 2004 Study Found that 79% of Credit Reports Contain Errors.

Do You Ever Get Bored At Work?

The next time you get bored, try this? Randomly chose 10 people (at work, on a blog or forum), and ask them if they’ve ever looked at their Credit Reports. You’ll  find that nearly 8 of those 10 people, will have had negative error’s causing trouble  to their Credit Score.

Clerical Errors Can Cause Your Credit To Undergo A Crisis

You don’t have to take Debt Warriors word for this fact.  Feel free note the following quote from a 2004 Bulletin/  study by the General Accounting Office and the United States Federal Reserve:

“Millions of consumers are at risk of being penalized by inaccurate credit report information and inaccurate credit scores.’

For example, one investigation by a consumer organization estimated that up to 79 percent of credit reports may contain some type of error and that about 25 percent of all consumer credit reports may contain errors that can result in the denial of access to credit.”

You may already know that your Credit Score is assessed by the Fair Issac Corporation (FICO). And you’ve seen Debt Warriors prove that 79% of Credit Reports have Errors on them. But did you know that a simple human Clerical Error can hurt your efforts to the following?

• Refinance your Mortgage,
  
• Rent your family a  home,
• Purchase a reliable car,
  
• Get a Phone in your name,
• Get yourself a new job,
• Be offered affordable insurance

Don’t Let Debt Defeat YOU! Oder your Debt Warriors Arsenal: 866-576-4996

Your Credit Score affects almost every area’s of your life.  You shouldn’t be terrified of this fact, but aware, because someone else could make a mistake, and you could be paying for it.

You should know that one of the reasons we started Debt Warriors, was because while as Legal Assistant at a Bankruptcy Prevention Law Firm, I noticed a lot of my clients had false information on their Credit Reports.

What Can You Do To Fix Errors On Your Credit Reports?

You could start by watching Debt Warriors first ever video (Below)

If you don’t care to watch our encouraging video, let me give you a summary.

Under the Fair Credit Reporting Act (FCRA),  you (as an American),  are allowed one (1) free copy of your Credit Report.  Annual Credit Report allows you to get a Credit Report from all three major Credit Reporting Agencies (Equifax, Experian and Trans-Union).

To Get Four Free Credit Report You Can Log Onto AnnualCreditReport.com

Don't Let Debt Defeat YOU! Oder your Debt Warriors Arsenal: 866-576-4996

Why should you get your free Annual Credit Report?  So you can learn how to analyze your own Credit Reports.  You’ll also learn if you have errors that can be dragging your down your “Credit Worthiness”.

For more information on reparing your Credit (for yourself) feel free to check out the Debt Warriors Arsenal!™

4 Myths About The Big 3 Credit Bureaus: Equifax, Experian, Transunion:

The myths of Halloween pale in comparison to the myths surrounding Credit Repair. So here are some treats to prevent you from being tricked while trying to repair your Credit for YOURSELF.

Myth #1. The BIG CREDIT BUREAUS [Big 3 CB’s] are Government Agencies. Not true. The BIG 3 CB’s are Equifax, Experian and Transunion and they are privately owned and in some cases publicly traded Businesses. I repeat, NOT U.S. Government Agencies. Many people fear the Credit Bureaus as much as they do the I.R.S. But understanding that the BIG 3 CB’s earn their money by selling your information to other businesses should help you gain the confidence to contact them like you would any other Business.

Myth #2: The BIG 3 CB’s are Unregulated, so they can do what they want. Not true. Credit Bureaus have to adhere to many U.S. Federal Laws. In addition there are many Laws that protect you from unfair practices or inaccurate information on your Credit Report. Trust me there are too many laws to cover them all.

Myth #3 You have the right to “REMOVE” negative and ‘accurate’ information from your Credit Report. No. You don’t. Don’t confuse negative inaccurate information with negative accurate information. If the information on your Credit Report is deemed ‘accurate’, that info can stay on your Credit Report for up to 7 years. Although you have the right to file a dispute, the question becomes when should you file a Credit Dispute.

Myth #4, FICO Scores range as high as they can go. Not true. FAIR ISSAC COMPANY Scores range from around 350 to 850. Anything around 500 is considered a HIGH RISK while 650 or better is rated a LOW to MODERATE Risk.

The BIG 3 CB's use your information as reported to FICO (another business - not a Governmental Agency :). The BIG 3 CB's determine your Credit Worthiness based primarily on your information stored in the FICO Data Base. Trust me, these are just 4 of hundreds of myths surrounding Do it yourself Credit Repair.

If you want to repair your Credit for YOURSELF in a safe, legal, reliable and responsible way, we invite you to purchase OPERATION 3 CREDIT REPAIR. It's included in the DEBT WARRIORS ARSENAL

In Operation Credit Repair we show you:

• How to locate all false information on your Credit Report!
  
• How to properly file a Credit Dispute without it being ignored as 'frivolous' by the Big 3 Credit Bureaus!
  
• How to successfully get a written response within 10 days!
  
• How to have negative and inaccurate information deleted within 30 business days!

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DEBT WARRIORS™ are not Attorneys. The information on this blog, should not be considered legal advice.