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Repair My Credit Rating: The Big 3 Consumer Credit Reporting Companies To Look Out For
Anyone that is taking steps to repair their credit rating must fully understand a few factors regarding the "Big 3".
The Big 3 credit scoring agencies are Equifax, Experian and Trans Union and they actually do not want you to improve your credit history.
Why?
Simply because the big 3 are private, for profit companies and these private for profit corporations generate billions from reporting poor credit.
That's right...
Were you aware that it is actually calculated that the big 3 make seven times more money simply by reporting bad credit compared to reporting a good credit score.
I can sense a perplexed look and so allow me to explain...
The Big 3 generate an income each time a potential creditor draws a credit rating for an individual just like you or even me wanting credit.
1. It is determined that a person with poor credit tries 7 times to obtain credit before receiving approval whilst somebody with a favorable credit record applies only once and gets accepted straight away.
2. The Big 3 charge lenders each month for reporting bad creditor accounts.
3. The Big 3 sell all of our contact details to prospective lenders who would like to fill your mail box along with my mail box with junk mail offers.
Now you know how they obtained your name and address.
They make billions from reporting poor credit.
Once the credit dispute companies, or maybe you either fire off rounds of dispute letters or even receive "verified as accurate" response letters this is actually the Big 3 blowing you off.
But there is worse - the Big 3 may in reality flag your legitimate disputes as frivolous therefore shutting you out from obtaining the accurate reporting you legally should have.
Clearly the 3 major credit reporting organizations are not that interested in helping you to improve your credit rating.
Successful credit repair is not only just about dispute letters that is just one aspect.
Repairing Your Own Credit Costs Very Little And Is So Straightforward Almost Anyone Can Do It.
When it comes to repairing your credit, the truth is, nearly everyone can perform their own credit repair and credit restoration.
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