| Bob Sherman Credit |
Repair My Credit Rating: The Big 3 Consumer Credit Score Reporting Organizations To Look Out For
Any person who is making plans to repair their credit rating needs to fully understand a few things concerning the "Big 3".
The Big 3 credit reporting agencies are Equifax, Experian and Trans Union and they actually do not want you to improve your credit.
The key reason why?
Because the big 3 are private, for profit organizations and these private for profit corporations make billions from reporting poor credit.
That's right...
Did you know that it is believed that the big 3 make 7 times more income by reporting poor credit than for reporting a good credit score.
I can sense a puzzled look so let me explain...
The Big 3 make money every time a potential lender pulls a credit rating for someone like you or me wanting credit.
1. It is estimated that someone with bad credit attempts 7 times to get credit before receiving approval whereas someone with a good credit score applies only once and gets approved right away.
2. The Big 3 charge creditors every month for reporting bad creditor accounts.
3. The Big 3 sell our contact details to potential creditors who want to fill your mail box and my mail box with junk mail offers.
You now know how they got your name and address.
They generate billions off reporting poor credit.
When the credit dispute companies, or perhaps you either fire off rounds of dispute letters or receive "verified as accurate" response letters this is the Big 3 blowing you off.
There is however worse - the Big 3 might in fact flag your legitimate disputes as frivolous thus shutting you out from getting the accurate reporting that you legally deserve.
Plainly the 3 major credit rating agencies are not that interested in wanting you to improve your credit rating.
Effective credit repair is not just about dispute letters that is only one part.
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