Chapter Five
Credit Reports and Credit Scoring
Made Much More Complicated
Page 1 of 5
The obvious question is: How do I make my score higher than it is? That's the big question, isn't it?
In fact, you DO have an enormous amount of control over your credit score. Your control over your credit score requires either; a) a tremendous education in how the consumer credit system works; or b) someone with that knowledge to guide you.
The landscape of credit report correction and improvement has become increasingly complicated over the years. You have a huge stack of consumer rights. That's really good news for you because you're accumulating more and more opportunity to improve your credit. However, the flipside is that those same rights are becoming harder and harder to understand. Isn't that just like government: the more rights you're given, the harder they are to access. Again, an informed coach will make all the difference in the world.
The whole credit repair enchilada began with the 1971 passing of the Fair Credit Reporting Act (known as the "FCRA,") when Senator William Proxmire and other statesman banded together to do something about the tsunami of consumer complaints building against the credit bureaus. Proxmire started with high hopes, but after the FCRA passed, he was plagued with a sense of defeat. The law had been so thoroughly modified by credit bureau industry lobbyists that Proxmire feared that the statute had succeeded in nothing at all.
But Proxmire might feel differently if he lived today (he passed away in 2005). Since the first version of the FCRA, many amendments have built up a wall of consumer protection that, while not simple by any means, still provides an interesting and fertile array of rights badly needed by Americans.
- Credit Revolution: Path of the Smart Consumer
© 2007 John C. Heath, Esq., Dr. Randy Padawer, Jayson R. Orvis. All Rights Reserved.
Published by Far Cliffs Multimedia, LLC
*Important: While the testimonials and other information on this website may be exciting, Lexington Law promises only to perform the steps we've agreed to in each client's case and to charge each month only for steps already completed. As with any legal work, no outcome is promised. Your results will vary. **The number of items removed represents the combined removals for all three credit bureaus. For example, if a single questionable negative item is removed from all three credit reports, it is counted as three separate removals.
© 2010 Lexington Law®. All rights reserved. John C. Heath, Attorney at Law, PLLC, d/b/a Lexington Law. Lexington Law is a group of law firms that may also be referred to throughout this site as "Lexington," "Lexington Law Firm," "we," "us," or "our firm". The number of items removed represents the combined results of the group.