Credit Score Sites Sued
Get ready to check your credit scores! A lawsuit has been filed in a California federal court that points to credit reporting agency giant Experian for defrauding customers.
The class action lawsuit status says that Experian is intentionally confusing, false advertising and not delivering the goods to consumers who pay for the company’s FreeCreditReport.com and Free CreditScore.com websites.
It’s all due to the way Experian gathers and sends customers and lending institutions credit scores.
The lawyers filing the suit found that Experian uses two different services in regard to gathering credit scores.
Apparently what Experian sends the customer isn’t Experian’s scores but scores gathered by one of their alternate services that isn’t used by lending institutions leading customers to think that the score Experian sends them via their service is an exact approximation of what lending institutions get which is far from the truth.
With the economy in turmoil and constant fraud being detected every month it seems from institutions that the public is left to trust, it’s becoming quite apparent that these practices, from the derivative and stock fraud scandals and real estate mortgage scandals to even the classic Bernie Madoff ponzi scheme case, consumers have been getting the shaft for decades but thanks to the growing number of watchdog groups and lawyers who care, the noose is tightening.
If this case wins in court, Experian is in for a lot of major trouble.*Sponsored Links*