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Repair My Credit Rating: The Big 3 Consumer Credit Score Reporting Services To Look Out For
Any individual who is making plans to repair their credit rating needs to fully understand a few things concerning the "Big 3".
The Big 3 credit rating agencies are Equifax, Experian and Trans Union and they in reality do not want you to raise your credit score.
The key reason why?
Because the big 3 are private, for profit organizations and these private for profit corporations make billions from reporting poor credit.
That's right...
Did you know that it is actually believed that the big 3 generate 7 times more income by reporting poor credit than for reporting a good credit score.
I can sense a puzzled look and so let me explain...
The top 3 generate profits whenever a potential lender pulls a credit rating for someone just like you or me looking for credit.
1. It is estimated that somebody with bad credit attempts 7 times to get credit before receiving approval whereas someone with a good credit score applies just once and gets approved right away.
2. The Big 3 charge creditors every month for reporting bad creditor accounts.
3. The Big 3 sell our contact details to potential lenders who want to pack your mail box and my mail box with junk mail offers.
You now know how they got your name and address.
They generate billions off reporting poor credit.
When the credit dispute companies, or perhaps you either fire off rounds of dispute letters or are sent "verified as accurate" response letters this is the Big 3 blowing you off.
However, there is worse - the Big 3 might in fact flag your legitimate disputes as frivolous thus shutting you out from obtaining the accurate reporting that you legitimately deserve.
Plainly the 3 major credit rating agencies are not that interested in wanting you to improve your credit rating.
Successful credit repair is not only about dispute letters that is barely one element.
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