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Can we rely on the credit scores provided by the agencies?

Date: Tue, 09/20/2005 - 15:58

Submitted by roxette
on Tue, 09/20/2005 - 15:58

Posts: 4009 Credits: [Donate]

Total Replies: 12


I had a talk with one of my friends and he was narrating the experience he had with one of the credit bureaus.

He pulled his credit report from the three credit reporting agencies, Equifax, Experian, and TransUnion online. At the end of the day, he again ordered for a credit report from TransUnion for some reasons.

He was amazed to see that when he ordered for the TransUnion report online from Myficoscores, the score displayed was 687 and few days back when he got a free copy of his report from the same agency(TU), the scores read as 654….. the report that came directly from TransUnion ??

Now, the thing that surprises most of us is that when our lenders will be viewing his credit report, they will ultimately consider 654 as his credit score and not 687.

Which report is genuine?? The one that was ordered online or the one that came free!!!

Isn't it surprising??


I agree with that Roxette. I recently had a lender pull my credit and the same situation occured. Had I known this I would have saved myself some embarassment. I pulled my score and it was a 573 the lender pulled the score with the same bureau and it was a 535. I wonder why the difference.

Are we getting ripped off by the so-called free reports?


lrhall41

Submitted by Rhonda28 on Tue, 09/20/2005 - 18:53

( Posts: 411 | Credits: )


AGGHHHHHH why is it that I have been divorced for 13 years and my ex's credit is still intertwined with mine? I have written the agencies to no avail... When do I finally get rid of the deadbeat???


lrhall41

Submitted by mom of 3 on Tue, 09/20/2005 - 19:16

( Posts: 20 | Credits: )


Rhonda you are telling me that I have been divorced for 13 years and HIS record can still be linked to mine... NO WAY! He is in worse shape than I am! Tell me there is another way!


lrhall41

Submitted by mom of 3 on Wed, 09/21/2005 - 07:16

( Posts: 20 | Credits: )


Definitely Ma'am

There is one more way to correct this error. At the most, you might have to take 4 steps to correct this error.

First, send a letter to the credit bureau with a copy of the divorce decree and request them to update your credit file. Your correspondence should be through certified mail with return receipt request. Also, record the CMRRR serial number so that you have a proof of your correspondence made to them at the date specified.

Second, generally the credit bureaus reply to your dispute within 30 days updating your credit file. If they do not do it, you need to send a follow up letter along with a copy of the first letter and other proof so that you are able to legally put some force to your request.

Third, if lucks has not favored yet, send a copy to the FTC with the third letter and inform them about your experience.

Fourth, I anticipate that you will not have to come so far. It should be definitely fixed by now. If, somehow you fail to see your credit file updated, you can attach a 100 word statement in your credit file so that your future lenders are able to understand your genuine explanation. This will help you positively and you will be able to retain your credit profile.

If you have any queries, please don't hesitate to put it on the board.

(Ps. Vikas has replied to your private message furnishing the details of the consolidation company that will be working in your area.)

Regards
Roxette


lrhall41

Submitted by roxette on Wed, 09/21/2005 - 12:45

( Posts: 4009 | Credits: )


Roxette,
Once again girl you never cease to amaze me! I am firing off a letter tomorrow morning and I will get this ball rolling.
I just cannot believe that HIS credit could still be linked to mine! GRRRRRR
I will keep you posted as to what is going on and the outcome!
Thanks again


lrhall41

Submitted by mom of 3 on Wed, 09/21/2005 - 19:12

( Posts: 20 | Credits: )


mom of 3

Quote:

why is it that I have been divorced for 13 years and my ex's credit is still intertwined with mine?


I'm not trying to interfere with my dads business. My parents have been divorced for 23 some odd years. I'm on both my parents side, but it kind of frazzled me to see something addressed to Mr John & Mrs Jane Doe going to my dads address. I put it back where I found it. But it was from the IRS. I made a quick picture of it with my cell phone, because my father would totally go off on me if I took it, or questioned it. He'd go on some rampage about why I was going through his mail.

Apparently...divorcees can still claim some type of credit on their taxes when it comes time for them to buy a new house? Is this true? Or did the IRS just give my mother some BS story?


Roxette

Quote:
Now, the thing that surprises most of us is that when our lenders will be viewing his credit report, they will ultimately consider 654 as his credit score and not 687.

Which report is genuine?? The one that was ordered online or the one that came free!!!


I too have view my report twice. But this was only after requesting my free one online, disputing a few items, and then being shocked after they were removed to see my score go up....Some of the items that were removed raised my score 105 points.

Did he dispute any items? Or what about this...had it been awhile since he had requested his credit report?

Does requesting our score at least twice a year make our fica score healty so to speak?

Perhaps if the owner is the one doing the requesting, and if we're doing this twice a year like we should be...maybe that's showing the credit bureau that we're being responsible and keeping tabs on our information.


Has anyone questioned the actual agencies about this?


Regards-
Mike


lrhall41

Submitted by Teleport on Wed, 09/21/2005 - 19:39

( Posts: 1388 | Credits: )


Mikey

Quote:

Apparently...divorcees can still claim some type of credit on their taxes when it comes time for them to buy a new house? Is this true? Or did the IRS just give my mother some BS story?



What type of credit did they speak about. I have been processing returns for almost ten years and I have yet to come across this.


lrhall41

Submitted by Rhonda28 on Wed, 09/21/2005 - 20:05

( Posts: 411 | Credits: )


I'm not sure. The IRS would discuss this with my mother. They wouldn't even discuss with her the nature of the letter. This doesn't make any sense because it was addressed to her. They recommended that she talk with my dad. That'll never happen.

It's just odd that they sent a letter addressed to both of them, and they have been divoced for 23 years. The IRS operator only said something along the lines of..."maybe it could be some type of credit that could be due to him." and that pretty much ended the call.


lrhall41

Submitted by Teleport on Wed, 09/21/2005 - 21:00

( Posts: 1388 | Credits: )


Mike,

Sorry to see your links getting deleted. No external links except government links are allowed in this website. I guess you won't mind Vikas following the rules.

Anyways, regarding the matter of the credit report about my friend, I have given all the advices and the possible mistakes that can be available in the report.
Thus, it becomes very mandatory to keep a regular check on the report before it puts a bad impression to others. I guess it is just because of some clerical mistakes.

Regards
Roxette


lrhall41

Submitted by roxette on Thu, 09/22/2005 - 13:38

( Posts: 4009 | Credits: )