The settlement form was deceptive too. They said if you already have credit monitoring, you can take the $125. I interpreted that to mean that you can't get the $125 unless you already have credit monitoring, so I picked credit monitoring. I would totally have taken the $125.
Equifax removed the $125 claim payout option after millions submitted claims
301–310 of 459 posts
Re: Equifax removed the $125 claim payout option after millions submitted claims
#302Earlier quoted context omitted.
This statement, which is currently greyed out, is an objective statement of engineering fact about one of the most important technologies introduced in the last one hundred years. I hope I have bought enough street cred to say the following by ghostwriting hundreds of letters to the credit reporting agencies to fix their problems, which are numerous and essentially inevitable given their model and present operations.…
Sorry, I am not that confident about that. I live in Europe, and to my knowledge we do not have that kind of credit score companies (there are databases about people who have defaulted their debts, though), and to my knowledge it is banks themselves that do the credit evaluation.[1] And credit for middle class is to my standards pretty cheap enough here as well. [1] More than happy to be corrected here with sources,…
The UK is in Europe (for now) and has Equifax and the other credit reference agencies.
Re: Equifax removed the $125 claim payout option after millions submitted claims
#303Earlier quoted context omitted.
This statement, which is currently greyed out, is an objective statement of engineering fact about one of the most important technologies introduced in the last one hundred years. I hope I have bought enough street cred to say the following by ghostwriting hundreds of letters to the credit reporting agencies to fix their problems, which are numerous and essentially inevitable given their model and present operations.…
Sorry, I am not that confident about that. I live in Europe, and to my knowledge we do not have that kind of credit score companies (there are databases about people who have defaulted their debts, though), and to my knowledge it is banks themselves that do the credit evaluation.[1] And credit for middle class is to my standards pretty cheap enough here as well. [1] More than happy to be corrected here with sources,…
Of course they do (exist in Europe).
Most companies giving you a credit of some sort (banks, phone contracts, ...) are required to do vetting of you.
To help them do that, they use credit rating bureaus.
In Europe, you as a private person just don't know it and don't have access to your own rating. But you are likely to be rated anyways..
Here is one danish example (at least three exists)
https://translate.google.com/translate?sl=da&tl=en&u=https%3...
Re: Equifax removed the $125 claim payout option after millions submitted claims
#304Earlier quoted context omitted.
Sorry, I am not that confident about that. I live in Europe, and to my knowledge we do not have that kind of credit score companies (there are databases about people who have defaulted their debts, though), and to my knowledge it is banks themselves that do the credit evaluation.[1] And credit for middle class is to my standards pretty cheap enough here as well. [1] More than happy to be corrected here with sources,…
The UK is in Europe (for now) and has Equifax and the other credit reference agencies.
The UK imports all the shitty things from the US, instead of looking at what the european are doing:
- No national ID, so identity theft is easier
- For a long time, no pin code on credit card, so that theft is easier
Basically they keep the stuff which trick the consumer, whereas in Europe they make law to protect consumer.
I really hope they leave the EU and stop bothering us with their shitty ideas, credit reference beeing one
Re: Equifax removed the $125 claim payout option after millions submitted claims
#305Earlier quoted context omitted.
Is a Standard Car Dealership or Mortgage Lender going to support you redlining an agreement, crossing out the sections you don't like (which include oversharing every and all morsel of data they can fetch from you)? No. The salesperson/CSR is going to be confused, and not even know how to proceed. In none of these cases did I opt in. And I decidedly couldn't opt-out.
Yes, if you want to borrow money, the person loaning you money is generally going to insist that you opt into the system that helps them understand if you are a good credit risk or not. That's not an unfair request on their part. Don't want to participate? Then don't ask for a loan.
Don't want to participate? Then don't ask for a loan.
The Bible tells us that Jesus drove the money-lenders out of the temple. Which means that loans predate credit reference agencies by thousands of years. Therefore we have historical record that they are superfluous.
Re: Equifax removed the $125 claim payout option after millions submitted claims
#306We're all supposed to take it as just a fact of life now that we need a monitoring service for a service none of us opted in to. And who runs these monitoring services? Why of course, it's the credit reporting companies! Who else would it be. So not only do they know when fraud is happening to you, but they will happily ruin your life while knowing and charge you for the privilege of knowing this is happening to you.…
In France we don’t have credit scores and credit monitoring companies, but everytime you take a loan you are asked for a ton of proof of solvability, and basically give your full bank statements to the credit lender so that they can check your incomes vs spendings (and see what you spend on btw). Don’t know what’s worse.
Re: Equifax removed the $125 claim payout option after millions submitted claims
#307Earlier quoted context omitted.
The UK is in Europe (for now) and has Equifax and the other credit reference agencies.
The UK imports all the shitty things from the US, instead of looking at what the european are doing: - No national ID, so identity theft is easier - For a long time, no pin code on credit card, so that theft is easier Basically they keep the stuff which trick the consumer, whereas in Europe they make law to protect consumer. I really hope they leave the EU and stop bothering us with their shitty ideas, credit referen…
How do any of your examples 'trick' the consumer?
Re: Equifax removed the $125 claim payout option after millions submitted claims
#308We're all supposed to take it as just a fact of life now that we need a monitoring service for a service none of us opted in to. And who runs these monitoring services? Why of course, it's the credit reporting companies! Who else would it be. So not only do they know when fraud is happening to you, but they will happily ruin your life while knowing and charge you for the privilege of knowing this is happening to you.…
In France we don’t have credit scores and credit monitoring companies, but everytime you take a loan you are asked for a ton of proof of solvability, and basically give your full bank statements to the credit lender so that they can check your incomes vs spendings (and see what you spend on btw). Don’t know what’s worse.
This is a great 99% Invisible episode about how credit cards came about, and what it was like beforehand, where you would be interviewed at length by a store before being given credit to buy, for example, a piece of furniture. Credit cards were designed to outsource checking of credit-worthiness, stop intrusive interviews with stores and avoid embarrassment of being rejected in-store. Lax digital storage of information and consolidation in the credit rating industry seems to be the problem here, not credit ratings per se.
https://99percentinvisible.org/episode/the-fresno-drop/
Everyone seems to like the idea of friendly local stores these days, but I also remember reading an interview with someone who was around when large chain supermarkets were starting. They loved the fact that they were relatively anonymous so people weren't able to gossip about you buying, for example, condoms.
There's clearly a balance to be struck here, and it's well away from a sensible middle ground at the moment.
Re: Equifax removed the $125 claim payout option after millions submitted claims
#309Earlier quoted context omitted.
This statement, which is currently greyed out, is an objective statement of engineering fact about one of the most important technologies introduced in the last one hundred years. I hope I have bought enough street cred to say the following by ghostwriting hundreds of letters to the credit reporting agencies to fix their problems, which are numerous and essentially inevitable given their model and present operations.…
Sorry, I am not that confident about that. I live in Europe, and to my knowledge we do not have that kind of credit score companies (there are databases about people who have defaulted their debts, though), and to my knowledge it is banks themselves that do the credit evaluation.[1] And credit for middle class is to my standards pretty cheap enough here as well. [1] More than happy to be corrected here with sources,…
Banks in Norway use Experian to check your risk. Anytime you apply for a loan you'll get a letter in the mail from Experian a few days later letting you know who made the request and what their response was.
Re: Equifax removed the $125 claim payout option after millions submitted claims
#310Earlier quoted context omitted.
Yes, if you want to borrow money, the person loaning you money is generally going to insist that you opt into the system that helps them understand if you are a good credit risk or not. That's not an unfair request on their part. Don't want to participate? Then don't ask for a loan.
Don't want to participate? Then don't ask for a loan. The Bible tells us that Jesus drove the money-lenders out of the temple. Which means that loans predate credit reference agencies by thousands of years. Therefore we have historical record that they are superfluous.
Actually it was money changers not lenders. The temple in Jerusalem had its own currency separate from the local and Roman currencies and all purchases around the temple required its use. It was essentially a a mix of extortion and racketeering, where if the people wanted to fallow their religion and fulfil their religious obligations they had to buy sacrifices (sheep, oxen or doves depending) from the temple in temple money which had a horrible exchange rate. Technically the people could bring their own but if they did that it had to be inspected approved to be healthy clean etc, and if it didn't meet standards it could not be used as a sacrifice. However The temple would buy it off at a cut rate as it has obviously inferior...