How do you prove you didn’t commit a crime if your accuser won’t tell you which crime you’ve been accused of committing? That’s the problem facing a New Jersey who has spent months trying to convince a shady credit reporting company that he is not the criminal that is showing up in their records. [More]
While it often seems like information brokers can and do sell whatever data they can collect to anyone willing to pay, there are regulations in place regarding the sale of certain types of personal information. Following a test to see how well brokers were adhering to these rules, the Federal Trade Commission has issued warning letters to 10 data brokers who appeared willing to sell consumer information without abiding by standards set forth in the Fair Credit Reporting Act. [More]
A reader just had his credit limit lowered on a credit card due to some bad credit history that he says isn’t his. He’d like to see what’s going on with his credit report, but Equifax says he’ll have to pay for the privilege, because they have no record of any inquiries in the past 60 days. The reader asks, “Has this happened to anyone else, where a credit card company waited over 60 days to notify them of credit limit reductions? Also, does this violate the FCRA?” [More]
Once upon a time, credit reports were used only for credit. Now, companies use it for a lot of decisions. Find out what is legal and what is not.