Personal Finance Advice

My first article is up at TheStreet.com about The Credit Score You Don’t Know About. This is a score that the credit bureaus give to lenders, but unlike your credit score, you are not able to access the information that they are using to make sure it is all correct. This brings up quite a few issues since many people find errors in their credit reports which affect their credit scores.

Experian hinted back in 2005 that they might make the bankruptcy risk score public, but we haven’t heard a peep out of them or the other two credit bureaus since then about this score. I’m not sure why people aren’t making much more of a fuss about this. I am assuming it’s because most people just don’t know that it exists and not that they don’t care.

Since in most cases, the bankruptcy risk report aligns with the credit report, most people would not even notice it exists, but for a few, it could cause some problems in getting loans at better interest rates. As long as there aren’t a lot having this problem, there probably won’t be enough support to get the credit bureaus to make the bankruptcy risk report more transparent.