Is it easy to correct the information? More often than not, no. But the mechanism exists to contest and update inaccurate information.

If you challenge something on your report, the bureau contacts the debtor and asks if it's accurate. Debtor says yes, it stays on. Gets a lot harder from there to get things off the report (which is probably what you meant). There are lots of seriously shady debt-collecting practices going on now, too.

1/3 of your credit score is the percentage of your credit that you are using

The reason I signed into mint.com was because I got a notice about the %age of credit I was using. I had no idea all that was being tracked in there. Jesus, I'm slack. Well intentioned, no follow through. But putting the deposit on the car on my credit card spiked it there for a moment.

Which made me consider jacking up my limit, but that's stupid. I've never remotely used much of it. It's not like I'm buying another car EVER, or anything.

Yes, you do. If you are denied a job based upon your credit report, you are entitled to a copy of said credit report from the same reporting bureau, for free.

But because the entire process is opaque, how can you know you were sent the exact same report as whoever requested it. There is no guarantee in the system that this is the case, and you have no way of checking, nor do you have much in the way of recourse if your employer or lender based their decision on inaccurate information.

Let me be clear, I have no problems with certain employers or positions requiring certain things or testing their employees before hire.

I am saying that the credit score and credit report system as it stands now does not provide the information those employers are requesting. I have a big problem with that.

how can you know you were sent the exact same report as whoever requested it

Isn't that just a general "everyone could be lying to me about everything" worry? I'm willing to bet that, like most financial companies, any credit company is legally required to have an unalterable record of exactly what they sent out to any of their clients at any time. So they know what they sent HR. But, like any company in any scenario, only the law and decency compels them to send you the same thing.

That's not a flaw in the system. Anyone can game it if they're willing to take the risk.

I think I'm going to need to stock up on Tums or something. I've never taken Tums in my life, but my reflux is becoming a bigger and bigger problem. Today it's bothering me during the day, which is a first. /mememe stress

{{{smonster}}} I'm sorry you are having a tough day at work. Calm~ma headed your way.

{{{{{Maria}}}}} You continue to be in my thoughts.

Isn't that just a general "everyone could be lying to me about everything" worry?

I don't think so, because if there were more transparency, there would be less of a problem.

I'm willing to bet that, like most financial companies, any credit company is legally required to have an unalterable record of exactly what they sent out to any of their clients at any time.

I'm not willing to make that bet. Most corporate laws these days have no teeth. A law with no teeth may as well not exist.

I understand that there will never be a perfect system, but this system is so imperfect as to beg for something better, and the system as it stands strikes me as incredibly oppressive and arbitrary. This may be just me, but I see it as incredibly unjust and needing replacement.

good to see you Maria. lots of 'ma.

So, on one point I can understand Sean's perspective: the credit report is known to have factual problems and above does not necessarily have a high correlation with various property-related behaviors.

If a credit report was requested for finance jobs, etc. that would be one thing, but why its ubiquitous use everywhere? Further, if 80% of credit reports have errors (though I don't know what kind of errors this stat represents), why request a document that is as likely as not to have errors to judge someone suitable for a job?

I'm not willing to make that bet

I'm making that bet not because I believe in the brilliance and sanctity of the human soul, but because I've worked in the financial industry, including mortgage, including Countrywide, and I was being liberal in my language.

It's a law. It's predominantly being followed. Trust me or ignore me, but I say this with confidence. There will always be shady people not following legislation, but it's there, and it's not being ignored. And it's enforced.

Trusting you or not is not the issue. Nor is trusting any one company, or the sanctity of the human soul, nor is your confidence in your assertion. Nor is it the issue that shady people will always game systems no matter what (why ever bother to try and fix any system, then?).

The system as it stands is too wide open for abuse, and large numbers of people are being abused by it.