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2003 Suit (appealed, Experian filed credit reports on PACER)

Saturday, July 31, 2010

$84 NCO collection lowers FICO score by over 100 points

It’s incredible that someone with PERFECT credit and one utility collection has the same FICO scores as a person with collections and umpteen discharged accounts a year after filing for bankruptcy in June 09.  The bankruptcy court in California was so backed up, it didn’t order the discharge until late December 09.  The Trans Union and Equifax scores were above 660 in July 2010.

One $84 utility collection results in the SAME low score, whether paid or not:

NCO utility collection after move lowers FICO scores by over 100 points

Sunday, June 06, 2010

3 years later: myFICO STILL creates FICTITIOUS late payments

I recently posted about this KNOWN software bug in the FICO credit scoring software at CreditFactors:

FICO scores STILL create fictitious late payments on Equifax reports

It is astounding that NOBODY cares.

Over 3 years ago I documented the software bug and that it can DESTROY the Equifax FICO scores of people with OLD charge-offs.

Readers contact me about everything else, but not THIS devastating FICO bug. 

Nobody looks at their FICO score factors?

Nobody cares about their FICO scores?

That would be GOOD news and I hope that many (near) judgment-proof readers stop paying their credit cards and don’t care about their credit rating anymore.

HOWEVER, what about the people with little or no debt and OLD bad credit?

Why pay more for credit and insurance and maybe even get declined for jobs and loans due to these TOTALLY BOGUS FICO late payments?

Depending on how old your chargeoffs are, your scores can be lowered by 50 or even 100 FICO score points! 

If you have several 5-year old CORRECTLY reported chargeoffs, no new derogatory accounts or public records and re-established credit, your FICO scores SHOULD be well over 700.  However, your EQUIFAX FICO score could be 100 points lower if just one of the accounts is currently reported as charged off, resulting in the INCORRECT rating of the account as CURRENTLY late or RECENTLY late—depending on when the creditor last reported.

I see so many ads for Lexington and all sorts of credit repair frauds, there must be an interest in credit repair.  So why doesn’t anybody care about this FICO scoring fraud?

I was going to create a new blog with updated screenshots of the FICTITIOUS lates, but it seems like a giant waste of time.

Saturday, February 13, 2010

New blog about illegal American Agencies debt collection practices

A reader started his own blog about his American Agencies collection experience:

Debt Collector American Agencies Extortion and Threats

The allegations are really unbelievable, but as long-time readers might remember, American Agencies employees refused to delete the TOTALLY BOGUS Pacific Bell collection from my credit reports and to add insult to injury, they even ran my credit after I disputed.

The OLD American Agencies postings at the Fight Back forum.

The FTC claimed to be investigating American Agencies, but just like the corrupt judges, they allowed them to get away with extortion.  Liars and Cheats EXPOSED is not just another gripe site, but we will expose corrupt regulators such as the FTC if they refuse to take action. 

If you have similar experiences with American Agencies, please post a comment at the NEW blog.

Wednesday, January 20, 2010

NEW BBVA Compass bank blog: deposits and NSF fees, closing accounts, false police report

The new BBVA Compass blog is at http://liarsandcheats.info/bbva-compass-bank-retaliation-closed-accounts/

The LONG ABOUT page contains my detailed description of events and pictures. I previously posted here about it and it wasn’t a priority until I received a “WARNING” citation from the Kingman police department last week. 

Apparently they filed a FALSE police report, falsely accusing me of TRESPASSING when all I did was cash their checks.  NOBODY ever asked me to leave!

So that just goes to show how the banksters and the cops work together to keep the PEOPLE from exposing their corruption.

They think they’re so powerful, I’d now be too afraid to publish manager Mark Huling’s name and maybe more important, wouldn’t dare to demand answers about their deposit and NSF fee policy.

Fat chance, you morons!

I have a few questions for the Kingman police chief and I want to submit my complaint to BBVA Compass regulator, the Federal Reserve Bank of Atlanta.  Of course I don’t expect any action or coherent answers—the point of the exercise is to convince MILLIONS of judgment-proof people to STOP paying their unsecured debts to the large commercial banks.

And I want to encourage all who are NOT judgment-proof and with assets deposited at the large commercial banks to consider moving their funds to community banks.

http://moveyourmoney.info/

Sadly, my closest community bank is over 200 miles away.  I really really hope that the Common Good Bank will finally open this year.  They now have a number of investors and are getting close to having sufficient start-up capital.

And to all of you who think that you’re doing fine and you don’t need to worry:

You’re not going to enjoy living in fear, getting robbed and worrying about your family because too many people have NOTHING.  We’re all in this together.

Monday, November 23, 2009

Experian and Trans Union prevail in credit scoring suit by Fair Isaac

Fair Issac states that it will appeal the jury verdict.

TransUnion, Experian Defeat FICO Trademark Lawsuit (Update2)

By Andrew M. Harris

Nov. 20 (Bloomberg)—TransUnion LLC and Experian Plc defeated a lawsuit brought by Fair Isaac Corp. claiming that their credit-scoring system infringed FICO trademarks.

Fair Isaac will appeal the federal jury verdict, the Minneapolis-based company said today in a statement. Fair Isaac sued the companies and Equifax Inc. in 2006, alleging they sought to monopolize the credit-scoring market and confused consumers with their VantageScore model.

“We remain confident in the validity of our claims,” FICO Chief Executive Officer Mark Greene said in the statement. Equifax settled the case last year on undisclosed terms.

U.S. District Judge Ann Montgomery in Minneapolis earlier this year dismissed Fair Isaac’s breach of contract and false advertising claims against Experian and TransUnion, while sending the trademark claims to trial. FICO is appealing that ruling, too, Greene said.

Chicago-based TransUnion said today the jury decision, which followed a three-week trial in Minneapolis, invalidated a FICO trademark.

“The court’s decision is a victory for the kind of choice, clarity and consistency that both consumers and lenders deserve when it comes to credit scoring,” Jeff Hellinga, president of TransUnion’s U.S. information-services division, said in a statement.

‘Industry Standard’

Developed by Experian, TransUnion and Atlanta-based Equifax—the three primary U.S. credit reporting companies—VantageScore was created to synthesize a single numeric credit score drawing on experience from each company’s data.

Fair Isaac, in its press statement, described its scoring method as “the industry standard” for lenders making credit decisions.

The defendants’ numeric scoring range overlapped with its 300 to 850 scale, FICO had said.

The jury’s verdict rejected that claim, according to a statement issued by Dublin-based Experian. VantageScore’s range of 501 to 990 “is used by four of the top five U.S. financial institutions and eight of the top 10 credit card issuers,” it said.

VantageScore Solutions LLC, which held the intellectual- property rights to the method used by the credit-scoring companies, also was named as a defendant in the suit.

“This decision is a victory for consumers who will continue to benefit from choice and competition in the credit scoring marketplace,” Barrett Burns, the Stamford, Connecticut- based company’s CEO, said in a statement.

The case is Fair Isaac Corp. v. Equifax, 06-CV-4112, U.S. District Court, District of Minnesota (Minneapolis).

To contact the reporter on this story: Andrew M. Harris in Chicago at .

The OUTRAGEOUS lie:

““This decision is a victory for consumers who will continue to benefit from choice and competition in the credit scoring marketplace,” Barrett Burns, the Stamford, Connecticut- based company’s CEO, said in a statement.”

The ONLY victory for consumer is the PROHIBITION of ALL credit scores.

We THE PEOPLE have to be treated at HUMAN BEINGS again.

I recently requested the address for disputes with Fair Isaac at its myFICO forum.  The posts to the PROOF of their “BUG” were promptly EDITED and DELETED again.  This is still about the FICTITIOUS late payments added by FICO scores.

Here is the censored thread:

What is the address for disputes regarding false data on myFICO reports?

The link they deleted is to my documentation of the “bug” adding late payments NOT reported by Equifax and seriously lowering the FICO scores:

5/4/07 - FICO scores add FICTITIOUS Equifax late payments long after charge-off

For 2.5 years this SERIOUS “bug” has been publicly exposed and documented.  Over 8,000 people read this thread.  Fair Isaac has been fully aware of this “bug” as I personally corresponded with its Barry Paperno.  Incredibly, Fair Isaac did NOT fix this “bug.”

The reason I’m putting “bug” in quotes is because Fair Isaac DELIBERATELY lowers the FICO scores of people with charge-offs.

Fair Isaac also DELIBERATELY rated the Capital One and Target revolving accounts reported without the credit limits.  The lower the scores, the higher the profits for the creditors.  And I suspect that people like Barry Paperno and the thugs in charge of FICO scores are the kind of perverts who get off on causing misery and driving people to kill themselves.

The perverts in charge of America enjoy the destruction of freedom and prosperity.

As FICO scores are required for just about all mortgages, they contributed greatly to the credit crisis.  And NOBODY is doing anything to stop them.  I’m STILL the only person on the planet who gives a damn?

It’s truly incredible that tax payers funded this bizarre litigation over credit scores while NOTHING is done to prohibit all scoring.

We are HUMAN BEINGS and deserve to be treated as such.