Sorry, can’t understand his accent. I lasted 15 seconds.
wip
April 11, 2016 9:48 pm
How many numbers, rules and government departments control our lives? People need to band together and do business with only each other. In every single possible way.
wip
April 11, 2016 9:48 pm
Which reminds me…buy some of Hardscrabble’s syrup. It is frick’n awesome.
General
April 12, 2016 12:29 am
Wow. That was very funny. And harsh.
zelmer
April 12, 2016 9:23 am
I wonder how many errors are in a person’s favor?
Stucky
April 12, 2016 10:05 am
“I wonder how many errors are in a person’s favor?” —— zelmer
As a person who has read thousands of credit reports, I would say none. Although that wold be hard to prove. If a creditor states that a person made last month’s credit card payment … but, that person actually did not, then how would I know that?
What I can say, with absolute certainty, is that 3 out of every 4 credit reports have errors in them … ranging from minor (your place of employment) to severe (you didn’t pay your mortgage, when you did). That’s truth … in fact, I wanted to say 9 out of 10, but then you would really think I’m full of shit. I am reporting what I’ve seen with my own eyes.
However, if you do some g**gling, you’ll see various proofs … such, as from the FTC and credit agencies … that only about 5% of credit reports contain errors. That is a fucking lie. Believing those government cocksuckers is akin to believing the bullshit from BLS.
Credit Scoring is, by and large, a scam. Really.
Do you think lenders love people with GREAT credit scores? Think again. A person with a great score gets the very lowest interest rates … rates where the bank makes little money. Not to mention that those folks rarely, if ever, pay late … and late fees and penalties are where the REAL money is made. A shitfuk credit score, otoh, will have the borrower paying near usury rates … and banks love that, despite the added risk.
David
April 12, 2016 12:25 pm
Thoughts both ways, certainly the credit agencies are scummy and that reflects a business model where having mistakes likely has a positive effect on profits as people are induced to pay to monitor their reports. The agencies seem to have no interest in fixing these and even make it hard to fix.
At the same time using credit reports to decide between renters is only sensible.
Very funny and oh-so true.
Sorry, can’t understand his accent. I lasted 15 seconds.
How many numbers, rules and government departments control our lives? People need to band together and do business with only each other. In every single possible way.
Which reminds me…buy some of Hardscrabble’s syrup. It is frick’n awesome.
Wow. That was very funny. And harsh.
I wonder how many errors are in a person’s favor?
“I wonder how many errors are in a person’s favor?” —— zelmer
As a person who has read thousands of credit reports, I would say none. Although that wold be hard to prove. If a creditor states that a person made last month’s credit card payment … but, that person actually did not, then how would I know that?
What I can say, with absolute certainty, is that 3 out of every 4 credit reports have errors in them … ranging from minor (your place of employment) to severe (you didn’t pay your mortgage, when you did). That’s truth … in fact, I wanted to say 9 out of 10, but then you would really think I’m full of shit. I am reporting what I’ve seen with my own eyes.
However, if you do some g**gling, you’ll see various proofs … such, as from the FTC and credit agencies … that only about 5% of credit reports contain errors. That is a fucking lie. Believing those government cocksuckers is akin to believing the bullshit from BLS.
Credit Scoring is, by and large, a scam. Really.
Do you think lenders love people with GREAT credit scores? Think again. A person with a great score gets the very lowest interest rates … rates where the bank makes little money. Not to mention that those folks rarely, if ever, pay late … and late fees and penalties are where the REAL money is made. A shitfuk credit score, otoh, will have the borrower paying near usury rates … and banks love that, despite the added risk.
Thoughts both ways, certainly the credit agencies are scummy and that reflects a business model where having mistakes likely has a positive effect on profits as people are induced to pay to monitor their reports. The agencies seem to have no interest in fixing these and even make it hard to fix.
At the same time using credit reports to decide between renters is only sensible.