Yes, I quoted that site to a lady a couple of weeks ago.

I can tell you that the actual decision engine is a lot more complicated than that chart would lead you to believe. The gloss they lay out is very incomplete. I can tell you that you do get points for being a professional and having a good education. Who would you rather lend money to, a guy who worked at McDonald's or a surgeon?

I'm not at liberty to say more because of circumstances and I can't specify exactly how many points you get for being a doctor as opposed to a collection agent (let's hope it's quite a lot).

Ray

Doctors may have low credit scores but not because they are doctors.They would have even lower scores if they worked in a slaughterhouse or picked dew worms or were that lowest of all professions, a collection agent.

I can't post credit scoring manuals. Call them up if you don't believe me.

Ray

????????????????????????

Hmmm..... I would need to see proof of that.

That's strongly prejudicial. The idea for a credit score is to show people's credit history and how they pay their bills. If a janitor pays his bills over a long period of time, he's going to have as good a credit score as a doctor.

I've seen some pretty crappy credit reports from IMPORTANT people.

Raymond, I would need proof of that before I believed it.

I would highly doubt that. Education and employment will help you get approved for a loan application, but not necessarily included in your score.

The following is included in the Beacon/FICO score:
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Percentage of Score | Criteria

* 35% based on: Late Payments, Bankruptcies, Collections, Judgments
* 30% based on: Current Debts
* 15% based on: How long accounts have been open and established
* 10% based on: Type of credit (credit cards vs. finance company loan, etc.)
* 10% based on: Applications for new credit or Inquiries

The score is based solely on credit report data, and on all credit related data, not just negative data.

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http://www.bad-credit-advisor.com/fico-definition.html

Oh yes, employment information and your education level will affect your Beacon score. My best friend worked in credit scoring for a number of years. You get a higher Beacon score if you're a brain surgeon as opposed to a parking lot attendant. Similarly, a better score if you have PHD as oppose to grade 3.

Ray

stacey s,

Identification information such as: Address, Employment Info, spouse, WILL NOT affect your credit score.

If you have this information removed it won't affect your mortgage application.

OK, I just saw the Nov. 7, 2006 post you sent about the mess your credit file is in.

The answer is YES, YES, YES, you can sue but I can almost guarantee you that it would be a waste of time from what you write.

Better to spend your energies in getting Equifax and TransUnion to fix your file. You can send all the stuff in by mail to them but It might take several stages for them to get it all right. For me, unless I lived in Thunder Bay, I'd probably just drive over to Transunion in Hamilton with all my documentation and get it fixed over the counter. Same way with Equifax, although they moved from Toronto to Montreal. Nice people, but those guys are really screwed up big time. It'd be a bit of a drive from Toronto, but when it came to something as big as the differential interest I had to pay on a mortgage, I would try to make the effort.

For my money, it beats dicking around with a lot of letters to a different province. I sent Equifax a bunch of letters once but for every mistake they corrected they seemed to add 2 more.

Ray

is that a yes or no.....this is going to hurt me when it comes time for my mortgage

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http://www.attorneygeneral.jus.gov.on.ca/english/courts/guides/WhatisSCCJun06EN.pdf

See the above link, page 2, for a gloss on the Ontario Small Claims Court Act's scope..

There, they mention you can sue for property damages and personal injury.

Slander and libel refer to harmful UNTRUTHS/ LIES (verbal or written) in the public media and thus do not apply to your situation.

What you are claiming for is of a different nature than a tort of harassment against a collection agency. It has more to do with whether CRA's are legally negligent in conveying erroneous information about you and thus causing you harm through unnecessary finance costs.

In Canada, CRA's and their members have traditionally had immunity from accusations of negligence because the info CRA's had was used only to communicate private info about a client to a bureau member. In principle, relief is given to the public in their right to gain free acess to their credit reports and fix any potentially damaging errors on them, something, usually easier said than done.

As you can see from the web, there is a slew of support for sanctioning claims against CRA's for negligently communicating erroneous and damaging credit information about the public to their member creditors. Maybe, it'll start to succeed in Canada too.

Ray

does this mean that I have a case against the collection agency and the credit bureau.....please remeber I live in Ontario.....I am not a lawyer so I just want layman terms only please