Owned by the Credit Reporting Agencies

Dollar-teken

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A while back, I wrote a post about Protecting your Identity. It included forms to fill out and places to contact if your identity has been stolen.  We can’t live without the credit reporting agencies. They own us. Our futures and our finances depend on us getting on top of our own and Knowing what it says about us.

As a follow-up, I wanted to share a post from Bible Money Matters.  This post is about credit reporting agencies and how to know your credit score.

The federal government passed the Fair Credit Reporting Act legislation a while back that aimed to give consumers the ability to find out more about their own credit without having to pay one of the credit bureaus for the information.

Visit Bible Money Matters to read the full post.

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One Response to Owned by the Credit Reporting Agencies
  1. James Moffitt
    May 8, 2011 | 7:38 pm

    I am firmly convinced that the credit reporting agencies are owned by banks and big government. All it takes is one or two late payments and your FICO score can drop by 50 or more points. If you make payments for six months to a year you will be lucky if your FICO score increases by 10 or 20 points. We spent the better part of 3 years working on our credit. If you do not have enough funds above and beyond your living expenses to pay off debt then you are in trouble.

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Owned by the Credit Reporting Agencies

Dollar-teken

Image via Wikipedia

A while back, I wrote a post about Protecting your Identity. It included forms to fill out and places to contact if your identity has been stolen.  We can’t live without the credit reporting agencies. They own us. Our futures and our finances depend on us getting on top of our own and Knowing what it says about us.

As a follow-up, I wanted to share a post from Bible Money Matters.  This post is about credit reporting agencies and how to know your credit score.

The federal government passed the Fair Credit Reporting Act legislation a while back that aimed to give consumers the ability to find out more about their own credit without having to pay one of the credit bureaus for the information.

Visit Bible Money Matters to read the full post.

Enhanced by Zemanta
One Response to Owned by the Credit Reporting Agencies
  1. James Moffitt
    May 8, 2011 | 7:38 pm

    I am firmly convinced that the credit reporting agencies are owned by banks and big government. All it takes is one or two late payments and your FICO score can drop by 50 or more points. If you make payments for six months to a year you will be lucky if your FICO score increases by 10 or 20 points. We spent the better part of 3 years working on our credit. If you do not have enough funds above and beyond your living expenses to pay off debt then you are in trouble.

Leave a Reply

Wanting to leave an <em>phasis on your comment?

Trackback URL http://fromthecheapseatz.com/2011/05/08/owned-by-credit-reporting-agencies/trackback/
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