The Credit Bureaus: Are they putting us in harms way?

As the economy requires creative solutions many business are outsourcing to foreign countries. Did you know the credit bureaus such as Equifax are doing it too?

Here is a typical day in the life of Marie who is in the process of buying a home. She has a window of opportunity to get the home of her dreams but she must be able to have FICA scores which qualify her and a credit history to confirm the sale to her. She also decided to buy a new Android phone. Her credit is good at least that was the last time she checked last year (average consumer). She calls to review her product she purchased from Equifax called ID Protect so that they unlock her file for both the Cellular phone Company and the mortgage company to review her credit.

This is what she experienced.

Marie: Hello my name is Marie and I would like you to please unlock my file for 2 weeks as I am purchasing a home.

Joe: My name is Joe (not his real name he is in India) No problem mum. But I am sorry to say we cannot unlock your file as there is a freeze on your credit file.

Marie: I am sorry but I can barely understand you, may I please get a supervisor or someone that speaks English? No offense I just do not understand your accent.

I know nothing of a freeze.

Joe: That is ok. I will transfer you.

Marie waits. And waits ….then the line goes dead.

She calls back and Jane (of course not her real name ) answers with a worse accent than Joe and Marie states her problem. Jane asks for Marie’s confirmation number for the freeze. Marie answers she has no confirmation number as she never ordered the freeze on her file.

Once more Jane says she cannot help Marie as without a confirmation number Marie will have to send a letter stating she wants the freeze removed. Marie asks where their office is located. Jane states it is confidential and cannot give her, Marie, that information.

By now Marie is asking for someone in the United States, at this point she is getting flustered. Jane answers that is not possible that Marie will just have to call back and press another option.

If this ever happens to you it is a horror. Marie of course misses the opportunity for her new home and does not get a new cell phone as neither creditor can access her credit file. She also does not know who put the freeze on her account.

It is seriously becoming more prevalent that outsourcing is causing more problems than the consumer understands. In fact, several foreign interests have actually paid for individuals to sell their social security number in partnerships for prosperities, homes and even cash up to 10k or more so that an IBC, International Business Corporation entity seeking credit by a supposed legal entity ( RUN BY ILLEGALS) can use your good credit to build their companies credit. They then operate legally in the United States and buy properties and live here. Yes this is happening more often and it is not good.

How do you protect yourself? For starters beware of any offers from the credit bureaus that are handled outside the US. Second, never, never share your social security number with anyone who promises you can receive cash or properties.

These are desperate times and many are going through financial crises. Please protect yourself from any foreign interests.

Got your Back my lady friends.

EE Song