DFW Relocation

CHECKING THE CREDIT BUREAU REPORTING SYSTEM Do you know that 80% of credit reports have errors? This is no surprise when the 3 major credit bureaus (Equifax, Experian and Trans Union) are actually competitors and get paid when a creditor reports to them. In a business standpoint it costs $ for the credit bureaus to review, investigate and correct credit reports. If they had it their way they could care less to spend the money, time or resources to do the work. However, thank goodness the LAW is on the side of the consumers. Many times the credit bureaus will send "form letters" to consumers stating that there is a "brisk credit repair business" by companies that charge between $50 and $1,000 to dispute negative items the consumer could do themselves. Also, many times they send letters stating they received a "suspicious request" and will not honor any more disputes received in this manner. "YAWN"...same old tactics playing the same game I say. Ye...

.....What your credit rating can say about you! What is a credit score and a credit report? Your credit score is simply a snapshot of your credit use. It's a brief overview of seven years of your borrowing history. Your credit report is the detailed rundown of your borrowing habits. Credit reports are provided by three major credit bureaus: Equifax, Experian, and TransUnion. How is a credit score calculated? A credit score is a value assigned to several criteria used in making lending decisions. Criteria include the amount you owe on non-mortgage related accounts such as credit cards, your payment history, and credit history. Scorers take this information from your credit report and plug it into formulas that calculate a value representing the amount of risk you pose to a lender. That value takes into account the track record of other consumers with similar credit profiles. By looking at this value, or score, lenders are able to roughly gage whether it's a good idea to extend...