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Bad Credit Is Big Business – How You Can Avoid Being Caught Up

If you have bad Credit, you surely have been bombarded with phone calls from collectors, sent tons of notices and solicitations for things you’ll never be approved of and so on, and so forth – but did you ever understand just why?


The ‘bad credit undustry’, as I like to call it, starts with the Credit Bureaus Equifax, Experian, and TransUnion themselves. Each credit bureau compiles and maintains MASSIVE amounts of consumer data. Think about how much data is reported to them (the credit bureaus) about you. The credit bureaus know (at very minimum):

  • Your name.

  • Your address.

  • Your telephone number.

  • Your e-mail address.

  • Your social security number or taxpayer ID number.

  • Any co-applicants you have ever applied for credit with (along with all of their identifying information).

  • Your employment information.

  • Who your creditors are and how much you owe them.

  • How good you are at paying your creditors.

  • If you have any tax liens filed against you.

  • If you’ve ever declared bankruptcy, etc., etc., etc.

The credit bureaus also know your credit score, since they use Fair Isaac Corporation’s FICO®credit scoring model to interpret and analyze your payment history to your creditors along with many other metrics, such as your debt-to-income ratio (which is a ratio of how much you earn in oppose to how much debt you have), and more.

As you can see, that’s A LOT of information! Now multiply all that information times 300,000,000 for the U.S. Alone! That’s a ton of very, very valuable information that businesses – mostly lenders and credit card companies buy from the credit bureaus for a hefty price.

For example, ABC Credit & Loan Company asks one of the big three credit bureaus for a list of all individuals’ names, address, and telephone numbers, and e-mail addresses that have a credit score of less than X. Said credit bureau will prepare that list according to the requesting business’ search criteria and charge them a set fee per record.

The requesting businesses target consumers with lower credit scores due to the fact that they can charge higher interest on loans they provide, higher premiums for insurance policies, or in the case of utilities, a high up-front deposit.

Consumers that respond to business solicitations apply for credit based upon the solicitation. When a consumer grants permission for the business to pull their credit report, as part of the application, it creates an inquiry on the consumer’s credit report (which lowers the credit score by a negligible number of points, and remains for two years). If A) Credit is granted, then the consumer ultimately pays more for whatever goods/services provided, or B) The consumer’s credit application is denied, and the inquiry remains on the credit report for two years. That’s why you don’t keep applying for credit: 1) You look desperate for credit to future lenders, and 2) Two to three points here, two to three points there adds up – AND FAST! You can see that your credit score can take quite a beating all while being told “NO”.

What you need to do first and foremost is to make sure that you don’t get caught up in the ‘bad credit industry’s’ clutches. Make sure you have the cleanest slate possible BEFORE applying for credit in order to give yourself the highest chance of credit approval and lower overall costs as possible!

Do yourself a favor and get your copy of Shane O’Brien’s “How to Repair Your Credit – BY YOURSELF!” TODAY! It is available for INSTANT DOWNLOAD!

In addition to sample letters you can use in your credit repair efforts, this e-book will teach you all of the following:

  1. How to properly order your credit reports from the big three credit reporting agencies/bureaus Equifax, Experian, and TransUnion.

  2. How to analyze the credit reports you receive in order to spot errors and discrepancies.

  3. How to properly initiate a dispute of negative/erroneous items with the credit bureaus.

  4. How to further challenge negative/inaccurate information contained within the dispute results received from the credit bureaus.

  5. How to INCREASE YOUR CREDIT SCORE 100+ points in 30 to 60 days time.

  6. Why you should NEVER use a credit repair company – You can do this yourself and your credit report will thank you in the long run!

  7. How to MAKE MONEY from your credit repair efforts, AND SO MUCH MORE!!!


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Bad Credit Is Big Business – How You Can Avoid Being Caught Up


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