Comments on: Credit Bureau History Lesson…

By: Rondi Lambeth

Rondi Lambeth — Wed, 20 Jan 2010 22:20:29 +0000

Great Article! I learn something new every time I come here. I have learned more about the credit industry in the last 5 months from Mike than I have in years of the business! Thank you again Mike

Rondi Lambeth

By: garr

garr — Wed, 11 Nov 2009 22:45:10 +0000

Great article Mike,

I appreciate the wealth of knowledge you bring to the credit scoring industry

By: Edward Brent

Edward Brent — Wed, 11 Nov 2009 22:36:17 +0000

as always, the information mike gives is truly a blessing from above. he is a true genius in this field.

By: fix my credit

fix my credit — Mon, 10 Aug 2009 13:17:00 +0000

fix my credit…

Although you might think you only need to fix your credit report by talking to Equifax or one of the bureaus, you’ ll have the best luck if you also contact the creditor. Generally, you’ ll want to speak to the billing department because they are t…

By: George Christenakis

George Christenakis — Thu, 30 Jul 2009 21:41:28 +0000

Webinar on 7/30 was very informative- thanks

By: Lon Dunn

Lon Dunn — Fri, 24 Jul 2009 19:18:29 +0000

Quite an abbreviated lesson, and I always enjoy remembering how this all came about.

It is fascinating to think that once the major agencies developed “scoring” lenders and consumers alike almost immediately took to the system. It is equally fascinating to think that the CRA’s actually attempt to put one’s entire financial picture, and history into a NUMERIC REPRESENTATION, as if that number were talismatic. I don’t think the person approving applications on the other end at the Stores, Car Lots and Banks realize how little time CAN take to change those scores, if someone knows how.

The FTC says it must take TIME ( to rebuild credit ) but some errors are so egregious, that they are corrected I have found about 42% of the time with the first letter. Sure, the CRA’s play stubborn sometimes, but if you are really just helping clients by writing lettes disputing what is patently incorrect, the CRA’s generally cave in pretty easily.

By: Lonnie S

Lonnie S — Mon, 20 Jul 2009 20:07:00 +0000

Wow, welcome wagon, now those were the good ol’ days. But has the pendulum swung back where we need to make credit decisions more based on our own, first hand knowledge of someone’s ability to re-pay a loan versus the inacurracies that are on most reports today?

By: EricPegler

EricPegler — Sun, 19 Jul 2009 21:51:12 +0000

The credit bureaus were out of control in the 60′s and they still are spoutung out false info today!
Thanks to credit repair companies we can keep them accountable.
Eric

By: MikeN

MikeN — Sat, 18 Jul 2009 05:28:21 +0000

The Thursday webinar was informative and useful. Look forward to hearing more

By: Jim Hogle

Jim Hogle — Thu, 16 Jul 2009 21:29:18 +0000

Mike, Good Article, can you send the 2-3 women over with the cookies and cake? LOL Hey in all seriousness thanks for sharing all your knowledge in our industry. Its great to have a group like the boot camp that really wants to help our neighbors, friends and family first. Thanks keep up the great work… jim h