Posted On: August 27, 2007, 9:34 pm CDT

Posted By: Tammy

More than ever it is time for people to understand the "credit game" and exactly what's going on. I'm sorry to break the news to you but if you don't have a plan for your credit the creditor's do! Their primary goal is profit, and one of the most profitable places to keep you is the "sub-prime gap". The credit scoring system is designed for one purpose, and one purpose only - to maximize creditor profits. Of course, debt collectors and credit bureaus are also making some cake but they just happen to be on the side lines watching the "system" they've designed. This is why I believe the current FICO system is inherently corrupt because of who profits from it. For years consumer advocate groups have lobbied for reform and in 2004 Congress (notice Congress is much different than Pro-gress) approved changes to the FCRA that placed new procedural requirements on the credit bureaus. Not suprisely, these changes have accomplished NOTHING in terms of ACCURACY OF INFORMATION. In addition, regulators are not enforcing the new laws. Ask yourself why the credit bureaus are still allowing debt collectors to place hard inquiries on consumer reports (which can lower a score up to 35 pts) when these inquiries should be a harmless account review? Watch our for re-aging of accounts or reinsertion of deleted items! The FTC knows exactly what is going on and yet they do nothing. It appears we have the best government (and regulators) CORPORATE money can buy.