I have become a bit of an expert on the laws of the Fair Debt and Collection Practices Act and the Fair Credit Reporting Act. They are both areas of law that are largely governed by case law and not the statutes themselves (especially since the statutes are not particulalry detailed).
One of the truly scenic things that I have been curious about...is how do the Big Three reporting bureaus consistently maintain that the average credit score is 678. How can this be after millions of homes and cars have gone into default and credit card debt is soaring.
If the bureaus lowered the aveage score to what they truly are (my guess is 640 or lower), more people could qualify for a reasonable mortgage and we would all benefit.
How can we get this truth out???
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