Credit scores- how can they be this different?

Equifax.com

Get the 3 in 1 and look for discrepancies.

 

That doesn't give you the scores though. The fact that all the info is the same on each doesn't matter. There is no regulation of reporting agencies. They give you whatever score they want based on their guidelines. Depending on the lender and which agency (not credit bureau - equifax, transunion, experian) they use, the scores can vary wildly.

 

That's exactly what I was told. There needs to be some kind of class actions suit.

 

with the mortgage fiasco, the feds will have to step in to regulate this. At least give rules about what means what so regardless of the agency used, the score is the same.

 

Well, I forgot to mention I pay the fee to get the scores. Geeeeeeez.

 

I wouldn't count on it. If the dumbass lenders want to give loans to people with 600 beacon scores the Fed can't stop them. The 600 score is telling them something, if lenders choose to ignore it it will hit them in their earnings and capital, which the Fed regulates.

 

If those same lenders are asking for a handout, the Feds have every right to apply regulations.

You also know that some things on your credit report cause a 600 beacon score that aren't the borrower's fault, right? Like perhaps, mmm...a default on a credit card that you never got but the lender says you did and even though you have never lived at the address listed, the lender says it was yours and there's no way in hell to have it removed? Little stuff like that needs a little regulation.

 

There are so many regulations now it's scary.

While that does suck hopefully you have some sort of proof that of where you were actually living at the time. It's easy to just find a lender that will work with you and then you can dump the ass that is giving you a hard time. Lots of lenders out there eager for your business.

 

I have a default on my report that is not mine, has no association to any address I've ever lived at, and the bureaus refuse to remove it because Citibank says it's my default. The SSN is wrong too. There's nothing I can do to get it off there unless I settle the default. So I have to pay for someone's mistake? Or I can just wait 10 years and let it go away on its own.

This is the kind of stuff that needs regulating. There is no recourse besides a little statement that says something to the effect of "debtor disputes claim. Lender confirmed." Yeah, that's helpful.

 

Would an attorney be of any help?