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> So you don't like the bureaux; well, nobody does really. But what is an alternative which allows lenders to compare applicants on a like-for-like basis with s

by mikk14 9y ago

> So you don't like the bureaux; well, nobody does really. But what is an alternative which allows lenders to compare applicants on a like-for-like basis with some degree of confidence? Ironically, even if I liked the bureaux (I don't) I couldn't do it any more. Their negligence self-defeated their mission. With the leaked information, no credit report from Equifax is believable any more. If somebody slams it in my face I can shrug and say "Nope, that's not me: leaked information". Everybody in the Equifax data can do that. Everybody in the other companies' data which intersect with Equifax's can do it. All of a sudden, these companies are providing zero value.

scrumper 9y ago
Except that'd be willfully lying in pursuit of financial gain, so no you can't really do that. The burden is on you to correct the record and defend against ID theft. Sucks. I'm not defending it. This is how it is.
scrumper 9y ago
If only. That's lying for financial gain though (or a job or whatever). Burden is on the consumer - you - to get Equifax to correct it. Credibility may destroy their business if competitors are better, but in the meantime you can't refute by default on a presumption of inaccuracy.( Not trying to sound lawyerish here, I'm talking generally.)
- mikk14 9y ago
  But I am not the consumer of Equifax. I have not paid them, nor asked them to do anything, nor indirectly getting a service from them [0]. The consumer is the bank or whoever paid for the information. So, on your logic being "the burden is on the consumer", why should the burden be on me? Second, why would the presumption of inaccuracy trump the presumption of accuracy? Who said Equifax is right? Especially since they have a track record of incompetence. As any debate on facts goes, the burden of the proof is on whomever is making a claim. Equifax is claiming something, i.e. that my credit score is X. I'm saying it is not. I concede you that what you say is probably how the law and the system works right now. And I concede that mine was more like a desire than a real prediction. I know things won't change. But that doesn't change the fact that, after the hack, Equifax and similar are just selling hot air. [0] If you want my credit score, you ask me for my statements, nor Equifax. If anything, Equifax is damaging me with their inaccurate information.

by mikk14 9y ago

scrumper 9y ago

Except that'd be willfully lying in pursuit of financial gain, so no you can't really do that. The burden is on you to correct the record and defend against ID theft. Sucks. I'm not defending it. This is how it is.

scrumper 9y ago

If only. That's lying for financial gain though (or a job or whatever). Burden is on the consumer - you - to get Equifax to correct it. Credibility may destroy their business if competitors are better, but in the meantime you can't refute by default on a presumption of inaccuracy.( Not trying to sound lawyerish here, I'm talking generally.)

mikk14 9y ago
But I am not the consumer of Equifax. I have not paid them, nor asked them to do anything, nor indirectly getting a service from them [0]. The consumer is the bank or whoever paid for the information. So, on your logic being "the burden is on the consumer", why should the burden be on me? Second, why would the presumption of inaccuracy trump the presumption of accuracy? Who said Equifax is right? Especially since they have a track record of incompetence. As any debate on facts goes, the burden of the proof is on whomever is making a claim. Equifax is claiming something, i.e. that my credit score is X. I'm saying it is not. I concede you that what you say is probably how the law and the system works right now. And I concede that mine was more like a desire than a real prediction. I know things won't change. But that doesn't change the fact that, after the hack, Equifax and similar are just selling hot air. [0] If you want my credit score, you ask me for my statements, nor Equifax. If anything, Equifax is damaging me with their inaccurate information.