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You have permission to publish this article electronically or in print, free of charge, as long as the bylines are included. A courtesy copy of your publication would be appreciated.
Secret Credit Bureau…Innovis
Protect Your Credit Rating
Innovis who? Innovis is another credit bureau just like the other big three…Equifax, Trans Union, and Experian. So why the secrecy?
When you order your free annual credit report you receive the information from the top three credit bureaus: Equifax, TransUnion and Experian. But not Innovis, so how can you find out if the information that they are reporting is correct?
Why should you be concerned? The higher your credit score the lower the interest rate you will be charged on loans, mortgages, credit cards; also, your credit information is very important when applying for a job.
Fannie Mae and Freddie Mac, two of the biggest buyers of home mortgages in the United States, are now requiring the mortgage companies to report 90 day lates to Innovis.
So you can see how big this secret credit bureau has become and is now known as the 4th credit bureau.
Now here is the issue…why is Innovis not included in your free annual credit report so you can double check the information that is being reported about you?
You can and should request this information, and you should develop a paper trail when dealing with Innovis. Be sure to send your request using certified mail so you can prove the date you sent it, and the date Innovis received your request.
You should not accept any excuse that they may give you such as, they do not give out credit reports, they are updating their database, or any other excuse they may give you. Keep all copies of your correspondences with Innovis. You need to send copies of your request and their response to the Federal Trade Commission (http://www.ftc.gov ), your US Senator, Your US House of Representative and your State Attorney General.
Each creditor uses different credit bureaus, while some use all three - such as home mortgages. What would you do if your next car loan uses only Innovis? This is already going on, and it is just a matter of time before you will be affected by the credit data they have secretly stored in their files. It is best to know beforehand than after you are charged a much higher interest rate or declined for the loan.
Innovis website has a website http://www.innovis-cbc.com but they do no list their mailing address which is:
Innovis Data Solutions P. O. Box 219297 Houston, TX 77218-9297
Peggy Elrod is a credit counselor and co-founder of www.breathingproseprity.com. Visit our blog at http://blog.breathingprosperity.com or email peggy at peggy@breathingprosperity.com |
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