Not that I would know anything about being famous or powerful, but there are some benefits….
Before I begin, I need to apologize for not posting more the past couple weeks. I have been busy with a variety of other projects and this just sorta slipped by the wayside. You, my readers, are still important to me…..
OK, on to the famous and powerful stuff. If you have read my other blog posts on credit, you will start to see a pattern of the big companies beating up on the little guys. It’s a known fact that the credit reporting agencies make successfully disputing your credit report difficult. They do it because:
- Not many people know how to fight them legally and win.
- Many people who dispute their reports get frustrated and quit
- It costs them less to pay a lawsuit than to change the systems they use that are producing revenue
- They can often get away with it
One of the reasons they can get away with it is because we, the little people, are not much of a threat to them. We tell our friends, family and neighbors how poorly we have been treated and the number of errors on our reports that are difficult to get removed, but it doesn’t go much further than that.
What if I told you that if you were famous or powerful, that your credit report would be different than everyone else’s? It’s true.
There are special VIP databases for people that could cause trouble for the reporting agencies either judicially or legislatively, or for public figures that could cause problems for the agencies by giving them unwanted media attention. These “important people” receive special attention to make sure that their files are specially handled and cleaned up to make sure that there is no inaccurate information.
Don’t believe me? Watch this very short video below.
It’s time that we hold the reporting agencies and creditors to task and make them aware that we intend to pursue our rights under the Fair Credit Reporting Act and the Fair Debt Collection Practices Act. Then, and probably only then, will we be able to successfully dispute errors and omissions ourselves.
Until then, you can visit a credit restoration site that many of my clients have had success with to see how they can help you correct your reports and increase your scores.
Scott Swinford, the Northwest Indiana Loan Guy… your source for Indiana FHA loans, Indiana USDA Rural Development loans and even FHA 203(k) Streamline Rehab loans.
