All Entries in the "Business" Category
Credit Bureau History Lesson…
Let’s take a brief look at how credit bureaus came into existence. Back in the good old days, if you applied for a loan, your credit file was ordered from the local credit bureau (all credit bureaus were local back than). A bookkeeper went in the back office, rummaged around for a bit and pulled out a paper file with the person’s name on it. Someone would look at the file and determine if they would offer you credit. If there was a questionable marking or error on the file, a simple phone call or visit to the office could clear the matter up.
What you must know to operate a credit repair business
Repairing inaccurate, misleading and unverifiable items off credit reports is perfectly legal. But some credit repair companies are not. Fraudulent companies make false promises and often mislead consumers. As a result, the Federal Trade Commission (FTC), who is responsible for enforcing consumer protection, developed the Credit Repair Organization Act (CROA). I know what you are thinking [...]
