CREDIT REPORTS

Most Americans live in fear of having a bad credit report. They have good reasons for this fear as banks and FHA seem to have given up actually looking at individual situations and rely completely on the credit report from only three credit reporting agencies.

We need to ask:

Why do ALL the credit reporting agencies have the EXACT SAME formula for evaluating credit? Don't we have anti-trust laws?

Why does your credit rating go down every time you apply for credit? Why does your credit report go down every time you are turned down for credit? Is it a conspiracy to prevent you from shopping around for better loan rates?

We have a lot of unemployed lawyers. May I suggest they start thinking about the problem of FICA scores controlling people's destiny?

BTW, you can force the credit agencies to put data regarding extenuating circumstances into your credit file. Not that anyone does anything but read the STUPID FICA scores.