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Home›Credit Repair›How to Explain credit repair cloud lawsuit to a Five-Year-Old

How to Explain credit repair cloud lawsuit to a Five-Year-Old

By Yash
April 12, 2022
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credit repair cloud lawsuit

This new court filing by a consumer advocacy group is a perfect example of why we need to continue to fight for fair credit.

The lawsuit, filed by the American Association of Credit Counsellors, claims that the credit repair cloud is so bad that the federal government has had to do an extra $500 million to fix it. The company that runs the cloud, American Express, has also filed a lawsuit against the federal government over its use of the cloud.

Credit repair is a very touchy subject for most consumers. Too many times the company that runs the credit repair cloud is a company that has a history of screwing customers over. For instance, one company that runs the cloud used to sell credit repair services to people who wanted to “fix” their credit scores. The consumer’s only crime was that they didn’t know to look for a better service. This is a huge problem because consumers often don’t know what a good credit score is.

The cloud is the place where people can upload their credit reports to get a better idea of the quality of their credit (and vice versa). So if people are uploading their credit reports for other reasons, then it’s very easy for thieves to just upload the reports for free. This is what happened with the Credit Repair Cloud. Consumers were able to upload their credit reports and then, boom, the cloud was breached.

This is a huge problem because it allows the cloud to be accessed from anywhere in the world, and that’s a big security risk. So, a lot of people are uploading their credit reports to the cloud in the hopes that when they go to visit their credit bureaus, they will see a better credit report.

The problem is, they’re just guessing. A lot of times, the reports are put in and are not actually checked. Because many people don’t actually take the time to look at their credit reports, many can’t possibly know if there was an issue, or if they were just getting a bad credit score.

How many times have you thought about making a trip to the local credit bureau to check your credit information because you wanted to make sure everything was right? If you werent careful, you could end up spending money you dont need on your own credit. Also, because the credit bureaus arent as diligent as they should be, it takes a lot of time to do a credit check.

Even if they did a credit check, they would still have to review your credit history to make sure it was clean, and it would take time. So if you make a trip to the credit bureau (which they wont do because its a violation of the FTC), they will ask you to give them your credit report.

And the credit bureaus can see and make judgments about you pretty much any time you apply for a loan. And if the loan companies dont check your report then they can get to you pretty quickly.

The credit bureau has to be a real concern because it is in charge of checking credit reports and is the one that the banks use to make pre-approval decisions. And to get a credit check, you have to give them your credit report.

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