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The Credit Bureaus Love Bad Credit - And Here’s Why

Not only are the Big Three credit reporting agencies making a killing selling personal information, what most don’t realize is that they’ve also got an actual financial stake in gathering as many poor credit scores as possible. Some data is more valuable than other data, which allows the credit bureaus to charge more for i ..


The Bureaus Role in ID Theft

When a consumer applies for credit, a company that is authorized to obtain a copy of the consumer’s report will electronically submit a request for the report. The request must contain specific data about the consumer in order for the credit bureau to extract the correct report. It is surprising to learn that one of the critical ..


The Bureaus Get Rich on Bad Credit

The job of selling data comes at a price. Depending upon what type of data you need, as a data purchaser, whether you're buying data to evaluate whether or not someone's a good credit risk or you're buying data to send a marketing message to, for a new credit card offer, data is extremely valuable. Credit bureaus make money selling ..


The Biggest Factor in Consumer Credit Scoring

That largest percentage of the credit score makeup of a consumer is from their payment history. Payment history counts for 35% of the total consumer credit score. This means how consumers pay their bills counts for more than one-third of their total score. By law creditors have to wait 30 days to report a consumer late to the credit  ..


The BIGGEST Credit Myths

The media, newspapers, internet are full of information, but sadly, much of the information concerning credit is inaccurate. Let’s check out some common credit myths: Credit Myth: “The credit bureaus are government agencies.” Sadly and completely false. Credit bureaus are for profit companies. They collect data to ..


The Best Way for Customers and Affiliates to Monitor Improvement Results

Your clients and affiliates will truly enjoy the transparency of the dispute process when you are using the Dispute Suite Credit Portal. The Credit Portal gives clients and affiliates direct access to see the client’s repair progress LIVE as it occurs. Clients and affiliates can see the percentage of negative items removed from  ..


The Anatomy of Dispute Letters

There are several things you want to insure are included in every dispute letter you send. Make sure every dispute letter contains the accurate spelling of the client’s first and last name. You should also include their social security number and current home address. The credit bureaus won’t dispute unless they can veri ..


Tampa Credit Boot Camp Agenda is out !!!

We are looking forward to seeing you at the 2014 Credit Boot Camp this week in Tampa !!!! I hope all of your travel arrangements have been made and you are ready for this amazing 4 day event. And if you haven't bougour ticket it is not too late my friend .... we have a limited number of spots left and you can secure yours with a quick call to ..


Synthetic ID Theft

A special type of ID theft exists called "Synthetic ID Theft" that takes advantage of the bureau’s matching system that is used to associate data with the individual consumer. With synthetic ID theft a thief mixes fake information with real or partially real information from an unsuspecting victim. This often results in a new cr ..


Surely the Creditors Want Accurate Information, Right?

One would assume that the creditors would want to base their lending decisions on the most accurate information. After all, they are in the business of calculated risk and accuracy stands to lower their risk, right? Well, not exactly. Creditors actually benefit when there are errors on the consumers’ credit report. For example ..


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