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Credit Scores and Credit Reports: How The System Really Works, What You Can Do (Second Edition)
 
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Credit Scores and Credit Reports: How The System Really Works, What You Can Do (Second Edition) (Paperback)

by Evan Hendricks (Author)
4.1 out of 5 stars See all reviews (17 customer reviews)


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Editorial Reviews

Product Description
Credit Scores & Credit Reports provides the first thorough examination of the all-important, but little understood, Credit Scoring and Credit Reporting systems. The Second Edition of this highly-acclaimed book enables consumers to understand how both of these systems actually work, and what they can do to improve their FICO scores, and to ensure their credit reports are accurate. Importantly, the book also describes how the system sometimes doesn't work, and how hundreds of thousands - if not millions - of consumers have been frustrated in their efforts to correct errors in their credit reports. Moreover, it explains: *Link between credit reports and the burgeoning problem of identity theft *How credit card companies use credit scoring to raise your interest rates *The role of credit scores in auto and homeowners insurance *The difference between mortgage rates for consumers with excellent, good, fair and poor credit scores *The damages to consumers and their creditworthiness flowing from credit report inaccuracy and identity theft *Credit reports and debt collection *The debate over credit scoring and discrimination *The politics of credit reporting The current credit reporting system keep detailed financial histories on more than 200 million Americans. That is why virtually everyone has a stake in the system, and why Stephen Brobeck, executive director of the Consumer Federation of America said, "There are few books I think all consumers should read. This is one of them. It is a well-informed, informative, and a well-written guide to a subject of great and growing importance to consumers."

About the Author
<div>Since 1981, Evan Hendricks has served as Editor/Publisher of the Privacy Times, a biweekly newsletter that reports on privacy and freedom of information law. A graduate of Columbia University, Hendricks regularly lectures on information policy issues in the United States, Canada and Europe. He has been interviewed on various FOIA and privacy issues by the Oprah Winfrey Show, Geraldo, ABC Nightline and World News Tonight, NBC Nightly News, CBS Evening News, CNN News Watch, The Washington Post, New York Times, and the Wall Street Journal He has served as an expert witness in several cases involving the Fair Credit Reporting Act. In 1991, Hendricks became Chairman of the U.S. Privacy Council, a new organization and the first dedicated to the protection of privacy and improving our nation's law and policy.</div>

Product Details

  • Paperback: 399 pages
  • Publisher: Privacy Times; 2nd edition (June 1, 2005)
  • Language: English
  • ISBN-10: 0964548631
  • ISBN-13: 978-0964548633
  • Product Dimensions: 8.5 x 5.5 x 1.1 inches
  • Shipping Weight: 1.3 pounds
  • Average Customer Review: 4.1 out of 5 stars See all reviews (17 customer reviews)
  • Amazon.com Sales Rank: #703,546 in Books (See Bestsellers in Books)


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Customer Reviews

17 Reviews
5 star:
 (12)
4 star:
 (1)
3 star:
 (1)
2 star:    (0)
1 star:
 (3)
 
 
 
 
 
Average Customer Review
4.1 out of 5 stars (17 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

 
54 of 55 people found the following review helpful:
5.0 out of 5 stars Excellent, unique, June 29, 2004
Having written about credit for fifteen years myself (I am the author of The Ultimate Credit Handbook), I know a lot about credit reports and scores. But I learned even more from this book.

Hendricks brings a very unique perspective to the topic of credit scores because of his years of experience as a privacy advocate. I found his references to court cases and the testimony of credit reporting agency executives eye opening. The chapter that explains how lenders often get different reports than consumers, and the subject of "cloaking" was alarming.

If you really want to understand how credit reports and scores work -- from what I would say is an insider's perspective -- I'd recommend this book highly.

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41 of 43 people found the following review helpful:
5.0 out of 5 stars Practical, comprehensive, useful, June 3, 2004
By Michael S. Dobson (Bethesda, MD United States) - See all my reviews
(REAL NAME)   
I thought I had a pretty good idea what a credit score was, how it worked, and how to get mine. I was wrong. I had no idea how complicated the process was, how many different variables entered into it, and how easily I could do damage to myself.

I understood that I had a right to a free credit report. I had no idea how deeply the "free" option was buried, how much digging had to be done to find it, and how limited the information would be--all in an effort to drive me to the paid options. Thanks to this book, I now know, step by step, how to get the information I need, and know which options are free, which cost money, and when I need each one.

While I've been fortunate enough not to be hit with identity theft, I know people who've had to cope with it. I'm relieved that I now own a complete resource on how to deal with it. I know how to challenge errors in my credit report. I hope I won't ever need to use a lot of what this book provides me, but I'm sure glad I have a copy on my shelf.

I'm also glad to have read the reports on the insurance industry, the use of credit in discriminatory practices, opting out of having personal data shared, and other issues. Coming from the editor and publisher of PRIVACY TIMES, the information is timely, insightful, and important.

If you've got any serious credit history, privacy concerns, an intent to make a major purchase, or feel vulnerable to identity theft, you'll value having this book in your library.

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13 of 14 people found the following review helpful:
3.0 out of 5 stars Mis-leading title and expected more about scoring, July 1, 2006
This book doesn't follow through on analyzing the credit scoring process a the title suggests. It focuses mostly on court cases involving consumers and credit reporting companies instead of getting to the meat and potatoes of credit scoring. In short, it has some pretty enlightening information but not about credit scoring. I'd recommend Liz Weston's Your Credit Score and KE Varner's The Insider's Guide to Credit Repair for additional information.
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Most Recent Customer Reviews

5.0 out of 5 stars Bravo for Evan Hendricks! He hits the nail on the head!
He not only explains the costly effects of our severely flawed credit reporting system, but he paints a remarkable picture of the incredible maze most have to travel when simply... Read more
Published 23 months ago by Denise Richardson

5.0 out of 5 stars A must read for every American consumer out there
Very well thought out book. Well structured and a must read if you are a consumer in America - otherwise the system could be hurting you... Read more
Published on February 3, 2007 by Brian A. Kroskey

4.0 out of 5 stars A Necessary Read... but Very Repetetive-
As a mortgage lender I knew this book would be a necessary read. The first half of the book talks about the in's and out's of the FICO scoring model. Read more
Published on November 20, 2006 by Christopher Wolfe

5.0 out of 5 stars Great
A great book with important and useful information!
Published on January 6, 2006 by Adam Sacks

5.0 out of 5 stars Accurately simplifies a complex subject...
It is of little surprise here that reviewers trend towards either a 1 or 5 star extreme. This book assumes a sophisticated audience with deep interest in the subject matter - and... Read more
Published on November 13, 2005 by A. Bradford

5.0 out of 5 stars Author Evan Hendricks Responds
Dear Amazon customers,

Please take note that the three negative "reviews" were by people who failed to identify themselves or explain what was wrong with the book... Read more
Published on September 30, 2005 by Evan D. Hendricks

5.0 out of 5 stars Credit Scores & Credit Reports
I used this book as the basis for an outline for a continuing education class. I found it to be informative from a historical perspective, helpful in understanding how scores are... Read more
Published on July 13, 2005 by Debra A. Killian

1.0 out of 5 stars It's alright
I wasn't really impressed. I've done a lot of research on how credit scoring works and how the credit bureaus work. Some of the information matches my research. Some doesn't. Read more
Published on January 27, 2005 by No Nonsense

1.0 out of 5 stars Ehh....
This book is alright. But the author lacks updated and factual knowledge of how the system works. Kudos for trying, though. Read more
Published on January 6, 2005 by Lovin' It

5.0 out of 5 stars Whow! Extremely Useful Book with ALL the FACTS. Rates a 10
Got the book yesterday and just cannot put it down. The facts are all here. Who to call, what to fix, footnotes with the actual law suits and awards given (show your attorney). Read more
Published on November 20, 2004 by L. Gifford

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