Credit Bureau Association Disputes 60 Minutes Contentions of 40 Million Errors

re: Credit Bureau Association Disputes 60 Minutes Contentions of 40 Million Errors

Larry Klein — Fri, 15 Mar 2013 03:43:23 GMT

The typical advice to contact creditor bureaus does not work for millions and that is the problem. The credit bureaus simply report what the creditors tell them to report. When a consumer complains, the bureaus simply confirm the same incorrect information with the creditors. And millions of consumers get stuck at this point, having no leverage to get the creditors to fix errors. 60 Minutes showed how their reporter, Steve Croft, got nowhere using the typical, ineffective advice to write the credit bureaus. Here is a solution that works and how I got AMEX and Citicorp to change their errors after they refused. The leverage is with the creditors and using small claims court gets their attention every time and is very inexpensive as explained here http://disputeyourcreditreport.us/ebook

re: Credit Bureau Association Disputes 60 Minutes Contentions of 40 Million Errors

josh darrimon — Thu, 14 Feb 2013 20:34:52 GMT

The idea that there are only 1 or 2 percent of credit reports with material inaccuracies is amusing. I guess it depends on the definition of a material inaccuracy but in my ten years experience it's a far higher percentage.

re: Credit Bureau Association Disputes 60 Minutes Contentions of 40 Million Errors

NREYNOLDS — Wed, 13 Feb 2013 15:09:12 GMT

Thanks for the laugh, Ted. We can use all of those we can get these days.

re: Credit Bureau Association Disputes 60 Minutes Contentions of 40 Million Errors

Ted Rood — Wed, 13 Feb 2013 05:21:34 GMT

Industry spokesmen disputed the 40 million error projection, stating "we have resolved several of those, and are now down to only 39,999,861 current errors. We will work on more of them as soon as 60 Minutes airs a full hour show stating their sincere apologies for hurting our feelings and potentially getting the CFPB's panties in a bunch."

re: Credit Bureau Association Disputes 60 Minutes Contentions of 40 Million Errors

NREYNOLDS — Wed, 13 Feb 2013 00:48:12 GMT

Can the CDIA not agree to an interview on the condition that they be allowed to approve the final edit? Usually 60 Minutes is right on the money when they uncover wrongdoing.

re: Credit Bureau Association Disputes 60 Minutes Contentions of 40 Million Errors

Jim Guest — Tue, 12 Feb 2013 23:54:46 GMT

they make it impossible for the consumer to get his report adjusted. The consumer can't even call them.