Why do so many customers have low credit scores?

The answer is errors on their credit reports and credit reports doesn't show a real picture of someones credit worthiness. Today people spend a lot of money on things that aren't reported on their credit report unless they get behind. An example of this is insurance. Insurance doesn't report when one buys it. It will show up when one is late or in collections. This sort of reporting hurts the score and isn't fair. Another example is cell phones. Cell phones doesn't show up on a credit report unless it is a collection. Another example is hospital bills. There ought to be fair reporting and there isn't. Many of these items also are errors. They've been paid or the company has taken advantage of an individual and it finds its' way on the credit report in a negative fashion, lowering the score. I estimate that 40% of Americans have enough errors on their report that costs them extra in interest payments or in about half the cases can't finance a car or home. This report is hurting millions of people and devastating our economy. I grew up being taught that before anyone was guilty of anything an allegation had to be proved. That's part of being an American. It's just not that way when it comes to anyone's credit report. The credit reporting agencies can report anything on a report and they don't have to make sure it's accurate. In other words Guilty until "YOU' prove you're innocent. There's just something wrong about this. How is it right to be able to have this much effect on any Americans life and allege anything negative about them and not have to prove it especially when it controls as much of a persons life as a credit report does. Most people doesn't understand the credit reporting system. If they did they would be up in arms over how they conduct business. More and more Americans are going to find out and understand that credit reporting agencies are a "for profit" business just like the corner gas station. When they realize there is a conflict of interest they may become even angrier. Credit bureaus sells information as their product. They sell it to other businesses for a profit. One of the products they offer is a list of score driven lists. One list that is very lucrative for credit reporting agencies to sell is low score lists. Lists that have individual score below 620. OK lets think just a minute. If a credit reporting agency doesn't have to make sure every ting on the report is accurate before they sell it and one of the products they sell includes lists of individuals with low credit scores then that tells me they have no reason to get the errors off. Therein lies the conflict of interest. That's just the way things work. It's like a 3rd baseman in baseball when he tags the runner out and drops the ball. The ump calls the runner out and doesn't see the 3rd baseman drop the ball. The third baseman doesn't tell the umpire " I dropped the ball." Credit reporting agencies aren't saying anything either. It's up to the individual to dispute the errors. It's just not right. But, it is what it is. In my opinion that's one of the reason so many individuals have low credit scores. I think there is at least 100 points of errors on most reports. And it's costing car dealers sales. www.creditcareinc.net offers solutions for dealerships.

Why do so many customers have low credit scores?

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