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Abstract

hecking account automatically without issue. Then, it happened again. The company rejected my request to deduct my auto loan payment from my account automatically every month.</p><p id="5762">They didn’t tell me. They claim to have left a message on their website for my account. So, in addition to logging into our own email, we are supposed to log in, at least twice monthly, to the website of every company we do business with. That method of “attempting contact” is the equivalent of screaming your name from here at my desk. Why don’t you respond?</p><h2 id="cb35">What they lack in customer service they more than make up for with the lightning-quick expediency they exercise to report late payments.</h2><p id="53e7">After refusing my payment and attempting to contact me by shouting for me in their mind, they reported my delinquency to the big three credit reporting agencies: Equifax, Experian, and Transunion.</p><p id="300b">The next 36 payments over the next three years were made without any issue via automatic payment. However, that “late” payment is still scaring my credit reports, dropping my score between 60–80 points. The auto loan company is immovable refusing to forgive my delinquency.</p><h2 id="697d">I spent $4,000 on one of those fly-by-night credit repair services with the idea that they would be able to remove these two negative items.</h2><p id="9319">For the$ 4,000 I spent over the course of a year, the end result ended up being a score about 10 points lower than when I started.</p><p id="6294">It’s more than Equifax, Experian, and Transunion. There are predatory companies that seek out consumers whose lives have been disrupted or downright destroyed by credit issues. These companies then attempt to put the final nail in the coffin of these people’s financial lives.</p><p id="3b75">They employ any means necessary, doing whatever is within their power, to make these “unacceptable, inferior people” in the eyes of these companies late with their payments.</p><p id="7261">They will neglect to mail out payment notices. They will pull the shady maneuvers I discussed above. Thankfully, I am unaware of the other dark shenanigans these companies can pull off to harm their customers.</p><h1 id="b558">Many “slumlord” companies are hostile towards their customers from day one.</h1><p id="d069">What is lost on most of the public is that the mission of these companies (predatory auto loans or student loan providers that specialize in offering high-interest loans to those with low credit scores) is not to get their loan money repaid. Instead, they are looking to control who are deemed winners and losers in their financial game. <b><i>They want that power more than they want to make money.</i></b></p><p id="f4d6">Who do they target as “losers”? Women (feminists), minorities (people with a skin color different than theirs), and other cultural outliers like LGBTQ people.</p><p id="3862">These companies believe themselves to be the guardians of the status-quo, defenders of American culture.</p><p id="d666">Trying to jump through the numerous hoops of fire thrown at you by these companies will always lead to failure by those they’ve pre-determined should not be allowed to participate in our economic system or achieve financial freedom.</p><p id="d5b2">They are Lucy in the Peanuts cartoon perpetually yanking the football back just as Charlie Brown goes to kick it. How many years has Lucy talked Charlie Brown into just “giving it one more try” to kick that football?</p><p id="c182">Depression, anxiety, insomnia, self-doubt, and dissolving your self-esteem and self-confidence are the end results in us undesirable pre-determined losers experience at the hands of these self-righteous monsters.</p><h2 id="aec9">Arbitrary subjective

Options

& secretive “mathematical formulas” determine how much your individual score should suffer.</h2><p id="ca47">I nearly neglected to mention the most hideous and arbitrary factor abused by these scoring systems: the vague and never mentioned highly protected methods they use to determine how many points your score will fall with a negative credit event.</p><p id="1039">A negative credit event such as a hard credit inquiry from a potential creditor, or an entity considering extending you credit. After extensive research, I cannot find any specific number regarding how many hard credit inquiries are too many. It could be as few as three. It could be as many as 50.</p><h2 id="286d">They are extremely vague when it comes to how many points your score will fall with too many hard credit inquiries.</h2><p id="43b7">Most agree that it is 2–3 points per additional hard inquiry over an undetermined number. Sometimes it can be as high as 10 points per additional inquiry after X number of checks.</p><h2 id="bb30">Don’t ever move if you want to protect your pristine credit report.</h2><p id="b1d8">It used to be that hard credit checks were used for large purchases like a home or a car. Nowadays, other companies have jumped on the bandwagon of also wanting hard credit checks. These include Internet providers, cable companies, wireless service providers, and electric and gas companies. All the utilities you need when moving to a new home.</p><p id="b70c">When I moved from Nevada to Texas, I had no less than 6 hard credit inquiries. That set back my credit score by 60 points. Apparently, for reasons that remain unexplained despite me asking the big three companies directly, I am one of those consumers whose score gets hit harder with “negative credit events” like those associated with moving to a new town.</p><h2 id="3013">I’ve asked the big three companies directly why my score will fall 15 points while another person will fall 5 points for the same event.</h2><p id="c5cb">All three ignored my question answering that the mathematical equations they rely on are “complex.” Maybe they meant to say that it’s beyond the ability of my pretty little head to understand.</p><p id="5f7f">The big three, not wanting to admit guilt or admit that “artistic interpretation” is at the core of their “complex mathematical equations” protect their precious complex mathematical formulas as if they are the recipe for Coca-Cola.</p><p id="de1d">I may have a six-figure salary but if you judge me by my credit scores, you’d think that I was a petty street criminal wanted for hitting up a string of 7-Elevens.</p><h2 id="1174">We all know that life isn’t fair.</h2><p id="a8d0">But we unknowingly spread the false belief that those who “work hard” or are deserving of success by merit are the ones who succeed while those we call lazy, stupid, or unmotivated are the ones who fail as if that makes an unfair system acceptable.</p><p id="f8da">We like to think that success and failure happen for reasons that match our idea that there is justice in the world. There is not.</p><p id="aeac">We like to comfort ourselves with the belief that people are rewarded or punished according to their internal character. The reality is that people today, just as in the 1950s, are rewarded and punished for the same reasons: sex, skin color, and compliance with and support for the current status-quo.</p><p id="fde8">Uppity civil rights activists don’t get credit. At least, not at the same low, low rates offered to their obedient, non-wave-making neighbors.</p><p id="ddb0">What do we do as a society that desires fairness and justice when we are confronted with the stark reality that we are just as racist, bigoted, sexist, and homophobic as we were in the 1950s?</p></article></body>

America’s Credit Reporting System is Highly Discriminatory and Beyond Broken

Exposing several underhanded, unspoken methods used by credit reporting agencies to hold back women and minorities from economic equality.

I tried to add the following 99-word statement to my Experian credit report:

“Due to my dissatisfaction with the quality of service provided by the company, it took me a month to cancel my service. I was transferred around departments, my calls disconnected. Despite that, I tried to pay. An agent who called me said that he could not take payment, providing me with another number. That automated system didn’t recognize my account number. Next, I contacted them via Facebook. They again told me to call the same number. Despite not using their service, I have tried to pay this debt four times with no luck, filing a complaint with the BBB.”

After 2 hours of exploring their website, I finally realized that the option of adding up to a 100-word statement to a disputed item on your report as they are legally required to allow us to do by law was nowhere to be found.

Even though it is essentially a meaningless gesture. I continued to try to find a way to add this statement as is my legal right. The next step while being given the runaround by the white-collar criminals at Equifax was to either call them to provide my statement or mail it to them. I haven’t bought a stamp or gone to a post office in over 5 years, so I tried calling them.

It will take me years of therapy to get over the abuse I’ve undergone just dealing with phone trees when calling any customer service number.

Their automated phone system sounds like all the other useless psychologically abusive automated phone trees that companies use these days. After the first time, the demonic automated voice said, “I’m sorry, I didn’t understand you. Could you repeat that?” I hung up.

I’ve dealt with too many automated phone trees to make myself waste hours of my time to once again suffer through the torture that these systems delve out upon their callers. I didn’t want to break down in tears of frustration, depression, and anger at being unable to accomplish the goal of my call again.

I’ve had to deal with over a dozen phone trees already this year. My wounds are still exposed and too fresh. It seems that my health insurance provider wants to talk to me at least weekly, and I haven’t even had any major medical issues.

I have 2 negative statements on my big three credit reports.

The incredibly incompetent cable service provider I discussed above is one of them. The other is from a “late” payment that an auto loan company would not allow me to pay on time.

That single “late” payment, as it is recorded in our official records, was five years ago. I had signed up for automatic payment to be deducted monthly from my checking account. Unbeknownst to me, the company rejected my application to pay via automatic monthly deduction from my account.

After finding an alternative way to make that payment, the next two payments on my auto loan were deducted from my checking account automatically without issue. Then, it happened again. The company rejected my request to deduct my auto loan payment from my account automatically every month.

They didn’t tell me. They claim to have left a message on their website for my account. So, in addition to logging into our own email, we are supposed to log in, at least twice monthly, to the website of every company we do business with. That method of “attempting contact” is the equivalent of screaming your name from here at my desk. Why don’t you respond?

What they lack in customer service they more than make up for with the lightning-quick expediency they exercise to report late payments.

After refusing my payment and attempting to contact me by shouting for me in their mind, they reported my delinquency to the big three credit reporting agencies: Equifax, Experian, and Transunion.

The next 36 payments over the next three years were made without any issue via automatic payment. However, that “late” payment is still scaring my credit reports, dropping my score between 60–80 points. The auto loan company is immovable refusing to forgive my delinquency.

I spent $4,000 on one of those fly-by-night credit repair services with the idea that they would be able to remove these two negative items.

For the $4,000 I spent over the course of a year, the end result ended up being a score about 10 points lower than when I started.

It’s more than Equifax, Experian, and Transunion. There are predatory companies that seek out consumers whose lives have been disrupted or downright destroyed by credit issues. These companies then attempt to put the final nail in the coffin of these people’s financial lives.

They employ any means necessary, doing whatever is within their power, to make these “unacceptable, inferior people” in the eyes of these companies late with their payments.

They will neglect to mail out payment notices. They will pull the shady maneuvers I discussed above. Thankfully, I am unaware of the other dark shenanigans these companies can pull off to harm their customers.

Many “slumlord” companies are hostile towards their customers from day one.

What is lost on most of the public is that the mission of these companies (predatory auto loans or student loan providers that specialize in offering high-interest loans to those with low credit scores) is not to get their loan money repaid. Instead, they are looking to control who are deemed winners and losers in their financial game. They want that power more than they want to make money.

Who do they target as “losers”? Women (feminists), minorities (people with a skin color different than theirs), and other cultural outliers like LGBTQ people.

These companies believe themselves to be the guardians of the status-quo, defenders of American culture.

Trying to jump through the numerous hoops of fire thrown at you by these companies will always lead to failure by those they’ve pre-determined should not be allowed to participate in our economic system or achieve financial freedom.

They are Lucy in the Peanuts cartoon perpetually yanking the football back just as Charlie Brown goes to kick it. How many years has Lucy talked Charlie Brown into just “giving it one more try” to kick that football?

Depression, anxiety, insomnia, self-doubt, and dissolving your self-esteem and self-confidence are the end results in us undesirable pre-determined losers experience at the hands of these self-righteous monsters.

Arbitrary subjective & secretive “mathematical formulas” determine how much your individual score should suffer.

I nearly neglected to mention the most hideous and arbitrary factor abused by these scoring systems: the vague and never mentioned highly protected methods they use to determine how many points your score will fall with a negative credit event.

A negative credit event such as a hard credit inquiry from a potential creditor, or an entity considering extending you credit. After extensive research, I cannot find any specific number regarding how many hard credit inquiries are too many. It could be as few as three. It could be as many as 50.

They are extremely vague when it comes to how many points your score will fall with too many hard credit inquiries.

Most agree that it is 2–3 points per additional hard inquiry over an undetermined number. Sometimes it can be as high as 10 points per additional inquiry after X number of checks.

Don’t ever move if you want to protect your pristine credit report.

It used to be that hard credit checks were used for large purchases like a home or a car. Nowadays, other companies have jumped on the bandwagon of also wanting hard credit checks. These include Internet providers, cable companies, wireless service providers, and electric and gas companies. All the utilities you need when moving to a new home.

When I moved from Nevada to Texas, I had no less than 6 hard credit inquiries. That set back my credit score by 60 points. Apparently, for reasons that remain unexplained despite me asking the big three companies directly, I am one of those consumers whose score gets hit harder with “negative credit events” like those associated with moving to a new town.

I’ve asked the big three companies directly why my score will fall 15 points while another person will fall 5 points for the same event.

All three ignored my question answering that the mathematical equations they rely on are “complex.” Maybe they meant to say that it’s beyond the ability of my pretty little head to understand.

The big three, not wanting to admit guilt or admit that “artistic interpretation” is at the core of their “complex mathematical equations” protect their precious complex mathematical formulas as if they are the recipe for Coca-Cola.

I may have a six-figure salary but if you judge me by my credit scores, you’d think that I was a petty street criminal wanted for hitting up a string of 7-Elevens.

We all know that life isn’t fair.

But we unknowingly spread the false belief that those who “work hard” or are deserving of success by merit are the ones who succeed while those we call lazy, stupid, or unmotivated are the ones who fail as if that makes an unfair system acceptable.

We like to think that success and failure happen for reasons that match our idea that there is justice in the world. There is not.

We like to comfort ourselves with the belief that people are rewarded or punished according to their internal character. The reality is that people today, just as in the 1950s, are rewarded and punished for the same reasons: sex, skin color, and compliance with and support for the current status-quo.

Uppity civil rights activists don’t get credit. At least, not at the same low, low rates offered to their obedient, non-wave-making neighbors.

What do we do as a society that desires fairness and justice when we are confronted with the stark reality that we are just as racist, bigoted, sexist, and homophobic as we were in the 1950s?