Canada Credit Fix Offers Equifax and TransUnion New Credit Report System

CALGARY, AB, CANADA, October 08, 2010 (Press-News.org) Canada Credit Fix Inc (CCF) has just announced that they will release their new system that will virtually eliminate errors, false data and reporting blunders on consumer credit reports. The revolutionary system will now go into development immediately and change the way the world sees and uses consumer credit reports. For now CCF has named the program EFC acronym for Error Free Credit but is in the process of incorporating its own division and trade mark.

Many experts say, in the current credit reporting system there is a huge problem and 43% of all credit reports may contain serious errors, false or misleading data and do not report accurate and fair consumer credit. Canada Credit Fix states that in their experience, the amount of errors and misleading information being sold by credit reporting agencies like Equifax could be closer to 78% or even higher. Essentially, companies like Equifax and TransUnion have simply failed to fix their system and have fallen behind in the world of consumer credit reporting advancement. Credit Experts at Canada Credit Fix claim that the problem is getting worse as opposed to better; and hundreds of millions of credit reports are being sold with simply untrue, inaccurate or misleading information. It is for that reason Canada Credit Fix has developed the new program that will make the current system unwanted and obsolete.

Canada Credit Fix will immediately offer this system for sale to Equifax, TransUnion and Experian, and states that most companies and agencies that obtain credit reports will insist on our new system once it is released. Canada Credit Fix says they will also be going to the market place seeking investor backing for this new system and may develop their own consumer credit reporting agency based on their new system should the current major reporting agencies not step up. Owner and founder of Canada Credit Fix, Sheldon Wolf of Calgary says �EUR�It is a time for change and most purchasers of consumer credit reports such as financial institutions, and mortgage companies will clearly prefer the accuracy and color of this new system as opposed to the old way of doing things. We see no problem converting everyone to our program as it just makes more sense. We will make the old system of credit reporting and selling incorrect consumer information obsolete almost immediately following our launch! People deserve fair, accurate and true credit and we are going to bring it to them.�EUR�

Companies like Equifax, Experian and TransUnion are corporations that obtain their information and data from merchant credit companies, information suppliers and data furnishers among other resources. Once the data and information is received by the credit reporting agency the information is electronically compiled and inserted into the consumer�EUR s credit report updating the file. Your credit is like a moving target and is always changing, however once the data is inserted it can now be sold to third party banks, mortgage companies, governments, landlords, insurance agencies and employers. Correct or not correct and even if littered with compliance violations and errors, your personal information is now available for sale to people and companies across the globe that want to know your credit worth and fiscal responsibility levels.

The main problem with the current credit reporting system is companies like Equifax and TransUnion can display and sell almost anything on your credit report with virtually no recourse what so ever. There are millions of compliance violations appearing on consumer credit reports and it has somehow become the consumer�EUR s responsibility to insure the information is correct and accurate. In the eyes of the credit world you are considered �EUR�guilty until proven innocent�EUR�; and to top it off it is your responsibility to deal with the errors and solve your own disputes. Canada Credit Fix has been in the credit repairing industry helping consumers repair the mistakes, errors, compliance violations and reporting blunders on their client�EUR s credit. �EUR�How ridiculous is it when a company like Equifax is allowed to sell a report that potentially slanders, distorts or outright misrepresents facts of a consumer�EUR s credit worthiness or financial status? At that point the violated consumer is forced incur the time and expense to prove or dispute their own innocence prior to it being removed or modified on their credit records. Somewhere in the development of the current system people�EUR s rights have not only been trampled on but have outright vanished.�EUR� argues Wolf. According to Canada Credit Fix the new system will eliminate this problem all together giving people back their rights and the accurate credit they deserve.

It is the consumer�EUR s responsibility to insure their own credit report is accurate and up to date and in the event of error or misreporting; must then prove the validity of their dispute or credit issues prior to the revision being posted. That said as the consumer goes through the sometimes very timely process the credit report may continue to be sold with errors. In the event that the consumer is simply unable to prove or does not have the resources to defend themselves, items may unfairly appear for many years. Typically, it has become a process where many consumers are forced to hire 3rd party agencies like Canada Credit Fix to pay hundreds of dollars to help get the fair credit they deserve. Some other agencies have been known to charge thousands of dollars to repair credit.

The public is getting the short end of the stick and is not being treated fair by the system or the government. Yes, everyone has the right to dispute errors and mistakes but why should they have to is the real question? Why can�EUR t companies like Equifax simply just report fair and accurate credit? At Canada Credit Fix it is their view that Equifax is committing serious offence against consumers and has taken a �EUR�Sell and profit first and correct later (maybe)�EUR� approach to their credit reporting products. In most cases people are forced to pay additional fees to agencies like Equifax in order to receive a copy of their incorrect or disfigured credit report representing even more profit for Equifax. Companies like Equifax seem to be profiting from their errors and blunders so why improve the system?

Unlike laws that protect people from slander and defamation of character the credit reporters are somehow allowed to be above the law somehow making comment and remark on your credit worthiness, reliability and credibility. The only recourse offered to you is the right of process and dispute to prove you are not guilty and only then will they maybe change the data, rating or statement.

The new program being developed and offered by Canada Credit Fix will essentially say good bye to errors, compliance violations and misleading data instantly. The new system will eliminate all of that and provide the end purchasers of the credit report a more accurate view and a way better way to make credit lending decisions and assessing risk management. We will be able to generate a report using the newest technology that captures the true color and essence of the consumer without the errors and false data. Our system will be able to report correct and verified information prior to posting it on their credit report.

Lenders and financial institutions that rely on fair and accurate credit reporting will be able to make better funding and risk management decisions based on fact versus fiction and the consumer will simply have true, accurate and reliable credit they can count on.

Canada Credit Fix has not released specific details on their new product launch but do say it will revolutionize the way we view consumers and their credit