Recently bought a car and was denied by Ally Bank for a car loan partly based on the erroneous and incorrect "credit score" issued on me by this company. Two things:
1. I never heard of this company and I have never given them permission to use my private personal information for the purpose for them to make money off of my information
2. They claim that their "credit score" is based solely on the "information" about me that they have on their files which could be incomplete thus leading to a "low score". By the way, my FICO scores with the BIG 3 are fair to good (in the high 600's)! Not the ridiculously low score this company gave me (in the low 400's!).
Well, DUH! if your business is to collect information on me (which I did not and will not give permission to use!) and you did not do a good job of collecting the COMPLETE information about me and then you base your scoring on the incomplete information you have, then of course the score will be low! Maybe like some others here have suggested you do that ON PURPOSE to get higher interest rate loans for your clients! But the point here is that if you FAILED to do a good job on collecting COMPLETE information about me and it is your business to tell other businesses about my reputation which you DO NOT HAVE a complete picture of who I am and my reputation, then you have NO RIGHT to be informing anyone about who I am! That is slander! Plain and simple! Telling others bad things about my financial reputation on incomplete information about me and just based on your limited information is wrong and borderline iilegal! It is the definition of slander! This is something that I will seek legal counsel on and see what my options are.
I would demand that any and all information about my in your files be permanently deleted!