• For testing only, data may change, data here will be wiped out. Live conversations should happen in main site at https://fordsix.com

Credit Report FAQ's

#1
A credit report evaluates your financial history. It compiles your historical payment information from your current creditors – including banks (car payments, mortgages), utilities, credit cards, and cell phone providers – into information used by possible creditors to determine whether they will extend credit to you, as well as at what interest rate and for any associated fees.
 
#2
“Let me be clear: A single error on a consumer’s credit report is one error too many,” Begor told the lawmakers. “And I understand how frustrating it can be for a consumer to feel helpless when dealing with a credit bureau like Equifax.”
 

powermonomer

Verified Member
#3
“Let me be clear: A single error on a consumer’s credit report is one error too many,” Begor told the lawmakers. “And I understand how frustrating it can be for a consumer to feel helpless when dealing with a credit bureau like Equifax.”

Waters said the changes in her bill might not go far enough and “we need to ask whether the system is so beyond repair that we need to completely rebuild the entire consumer credit reporting sector to truly put consumers first.”
Jaret Seiberg, an analyst with brokerage and investment bank Cowen & Co., said the hearing reinforced the firm’s view that the new Congress was likely to act.
 
#4
McHenry, who proposed legislation in 2017 that would require Equifax, Experian and TransUnion to phase out the use of Social Security numbers to verify Americans’ identities, said he wanted more competition instead of more regulation. But he agreed that some changes were needed.
 
#5
McHenry, who proposed legislation in 2017 that would require Equifax, Experian and TransUnion to phase out the use of Social Security numbers to verify Americans’ identities, said he wanted more competition instead of more regulation. But he agreed that some changes were needed.

“By my estimate, this is the sixth time I’ve been before Congress talking about abuses by the credit bureaus,” said Chi Chi Wu, staff attorney at the National Consumer Law Center, who told committee members that the system for disputing information in a credit report is a “Kafkaesque nightmare” that needs reform.
 

powermonomer

Verified Member
#6
A credit infringement could stay on your credit report for five years or more including when you’ve repaid the debt, although your report will be updated to indicate payment has been made3.Black marks on your report matter because should you apply for credit or a loan at some point in the future, you may be knocked back or even charged a higher interest rate4 due to a poor credit history.
 
Top