> 1. If they are going to be making money off of MY > information, they should also be legally responsible > to ensure that the information is accurate.
As an information broker relying on the banks and other financial institutions to submit the records, it is nearly impossible for them to ensure 100% accuracy. It is mandated that people be able to pull one free report every year specifically to check for problems. I'm sure they have processes which do look for obvious errors and correct them, but expecting 100% accuracy across billions of records is unrealistic. > 2. It should also have "official" mechanisms to explain > bad debt like illness or unemployment. There is a huge > difference between someone who didn't pay their bills >From a social standpoint I agree with you, but the credit score isn't designed to be, nor should it be used for, social judgments about a person. It was designed to help judge financial risk for the extension of new credit. Unfortunately it's now being used in situations that it wasn't really designed for such as determining who gets a job offer or not. It used to be just one of many factors in a decision, but many businesses have made it policy to simply reject people with a score below a certain point without considering other factors, which really isn't how it's supposed to be used. As a result of that, I'm leaning more in the direction of better control over reporting things that have negative impacts because it's becoming more important to daily life. > 3. There should only be one. I disagree with this because an error at a single source can considerably set someone back. By having three different agencies which track the data and calculate scores in their own way, a rouge error at one may impact the score there, but would be offset by higher (and presumably error-free) scores at the other two, so the lower one can be discounted. If they're all about the same then it's safer that they're accurate. > 4. While giving us once a year access was a vast improvement, > we should be able to freely access all of our information and > be able to see our credit reports for free just as the creditors > would see them as many times as we want. With the advent of online technology, there is no technical reason I can think of as to why they couldn't. I agree with you on this one. Being able to view the information more often would allow people to track errors in real-time on their own. Expect a lot of resistance from the credit monitoring companies on this one though as it would make them mostly obsolete. -Justin ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:332992 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
