I offer a 50% discount to clients who allow me to use their credit reports and dispute / collection experiences to document systemic violations of consumer laws or unfair practices and abuse.
I do NOT disclose my clients’ personal information.
A typical example:
MyFICO (formerly Fair Isaac) creates late payments NOT reported by the credit bureaus.
They ignored my open letter:
I documented my claims and posted screen shots of the actual reporting of a Credit Activist client:
There is no question that Fair Isaac’s software CREATES late payments that are NOT reported by creditors to Equifax and are NOT on the Equifax credit report.
I have discussed the issue with Fair Isaac’s Barry Paperno who claims that the late payments on the myFICO reports are merely a “display” issue and NOT rated for the FICO scores. However, my documentation PROVES without any doubt that this is a blatant lie with regards to the Equifax FICO scores.
I have been widely publicizing this devastating FICO scoring bug.
Unfortunately, most politicians are bought and paid for by the industry. If you believe your favorite politician is different and willing to take action, please do send him/her my page and I’ll be happy to provide more information.
As of 11/2010, myFICO STILL creates these entirely fictitious late payments, devastating the FICO scores of consumers with OLD charge-offs.
To my knowledge, nobody sued.
It took me 7 years to get Capital One to report the credit limits, including years of litigation in federal court. Class action suits finally got Capital One to report the credit limits.
MyFICO will probably eventually update its scoring formulas and replace this bug with another.
In the meantime, millions of consumers will at least be able to KNOW about this problem and hopefully somebody will sue myFICO.
There are many systemic credit scoring and reporting problems and the only realistic solution is to LEAVE this corrupt credit and banking system.
Unfortunately, most people are not ready to leave the system and I can NOT change the system, but I can DOCUMENT the many systemic problems with credit reporting and FICO scoring as most of my clients are Credit Activists.