Credit scoring took the prejudice out of lending money by not focusing on the type of car you drive or the clothes you wear. It helped eliminate the discrimination that plagued the lending industry just 15 years ago, by being blind to race, ethnicity or creed.
It gave the little guy a chance to stand in a completely fair and unbiased light against those individuals who had all the right connections at all the right financial institutions. Credit scoring leveled the playing field simply by focusing on what you did with the credit you had, rather than the dollar amounts.
Credit reporting rewards those who are responsible in making payments on time and are sensible in their spending habits.
In the time since the National credit reporting model has become universal in the United States, home ownership has tripled! With such a large increase in home ownership, the American Dream, it is fair to say, credit scoring made it possible for the little guy to take advantage of opportunities that were once reserved only for the wealthy or well connected.
It is important to understand that credit scoring gives each and every person the chance to achieve their dreams if you have “good” credit.
Without a National credit scoring system, there would be no way for financial institutions to objectively decide to whom they should lend their money to and also under what terms. The score itself does all the research work a bank or investor needs. Not only is a credit score important for obtaining financing for home ownership, it is also used to extend credit for auto loans, credit cards, used in background checks and for insurance purposes.
In countries like France, where no credit scoring model exists, home ownership is beyond the grasp of nearly everyone, except the very wealthy or connected. The banks only lend to people who have at least 50% of the purchase price to put as a down payment. And even that sometimes isn’t enough.
For all the good credit scoring has done for this Country and its citizens, there of course has been an opposite and unintended consequence. No one expected or planned for the by-product of such a massive undertaking; namely the possibility and today’s reality of serious errors being reported on credit reports of nearly 70% percent of the population.
As Plato said and Victor Hugo reiterated, “Necessity is the mother of invention”, er go CreditDetailer.com was born in the minds of several mortgage lending professionals who were frequently frustrated by credit errors on their client’s credit reports and were lost in the tortuous and complicated process of disputing inaccurate, erroneous, and obsolete credit items. They searched in the attempts of providing a dual service, a way to educate consumers on their credit and a way to automate the credit dispute and repair process.
Through their sphere of influence they found software programmers, a few attorneys who specialized in credit disputing and several enthusiastic investors who saw the humanity and good in the project. Six years and thousands of man hours later, CreditDetailer.com was perfected and given out to their customers with credit issues.
Although a time consuming endeavor, it was never their intention to market or sell their product, only to perfect it enough to give it away to their clients as a professional service so their business could continue uninterrupted by the overwhelming credit mistakes.
That all changed when one of the customers who was helped by the software gave it to a friend who happened to be the owner of a very large and national credit repair company. He was both delighted and dismayed. Essentially he said it was by far the best product available in the entire credit repair industry, and it nearly made him and the many employees at his Company obsolete.
Even after several offers to purchase the technology and software designs and code from us we still refused to sell Credit Detailer.com to him. Surprisingly, he sent a very large check for licenses for all his employees, our first sale.
This bold gesture led us to the realization that perhaps we could try to sell our software to the general public. The software exploded on the internet to the point where all involved people were obliged to give up their financial and legal jobs to devote their focus to the expansion of Credit Detailer.com.
Although it is our desire to make the dreaded “P” word (profit) we remain committed to our founding principal, “help our customers”. You see credit just isn’t about a number to us, “it’s about saving money, it’s about quality of life, and most importantly, it’s about equal fairness to everyone”.
We want to see you get the best mortgage terms, the lowest car loan rates and the best interest rates on your credit cards. Banks make enough money and they have had their day in over charging people for mistakes that were not even true.
To prove to you, and to remind ourselves of our purpose, take a look around the website. We know of no other website that has as much comprehensive information about credit, in one place, anywhere, and at no cost or obligation to you. Other sites have a simple product to sell, they are in it for the money, they do not care if you know what you are doing, or even try to help you.
Essentially, we resigned ourselves to giving away half of our product upfront, all the information we have learned over the years. On these pages you can find information on the FACTA act, the credit disputing process, the contact information for the three major credit reporting bureaus, videos and how-to guides. Even if you never purchase one of our products, please use our website as a point of reference to educate yourself on credit and your rights as a consumer, and more importantly, share it with someone else who needs this free information too.
Now here comes the catch, since we are giving away something of value to you, we hope you will return the favor. We are committed to giving our money, and more importantly, our time to charity in our community, especially those dealing with cancer and diabetes.
We have all been touched personally by the ravages of these two diseases. Please take a moment to consider donating your time or your money to these valuable causes that we have provided links for. We donate to these very important causes and with your help, we can help those who have even harder life disadvantages than just credit mistakes.
All the best,
The CreditDetailer.com Team
You can find personal donation links here:
Thank you for your support!