"CONSUMER LEGAL TIPS AND SECRETS"

The following are excerpts from Attorney Charles Jerome Ware's new book, coming soon in 2011, tentatively titled "Consumer Legal Tips And Secrets".

Attorney Charles Jerome Ware is the former Special Counsel to the Chairman of the United States Federal Trade Commission (FTC).  His national law practice is headquartered in Columbia, Maryland, with other locations throughout the United States and the country of Colombia in Latin America.

1.  Credit Bureaus are not government agencies.  Typically they are private, profit-making companies that collect and sell your personal credit information or credit history.

2.  Credit bureaus make lots of money selling your personal information.

3.  In fact, the selling of your personal credit information is a multi-billion dollar business annually.

4.  The so-called "Big 3" major credit bureaus in the U.S. are Equifax, Experian and TransUnion.

5.  Credit reports are frequently wrong; particularly credit reports generated by the so-called "Big 3" major credit bureaus.

6.  Further, credit reports are always biased against the consumer --- that is, you.

7.  For example, a major bias exists on the part of credit bureaus against the inclusion of positive or good credit information in your credit report or credit file.

8.  In many years of experience, I have yet to see a credit report or credit file that, for example, accurately and truly reflects a positive payment history of anyone.

9.  The alleged "one credit score" for each person or consumer is a myth.  No such thing.  There usually are several "credit scores" at the same moment in time for each consumer, from different money-making credit bureaus.

10.  Your so-called "credit score" is allegedly calculated using a so-called "algorithm": an intimidating word meaning a complex mathematical formula that absolutely nobody understands.

11.  And, it gets worse.  Allegedly this so-called credit score algorithm is "proprietary" in nature.  This means this "algorithm" hocus-pokus is treated like a secret.  A huge money-making secret.

12.  There are probably numerous people around the world who have the individual knowledge and skills to an atomic but virtually no individual has the single knowledge to understand the credit score algorithm (or, I guess, manufacture Coca-Cola).

13.  In general, credit cards should be treated as your ENEMY; not your friend.

14.  Avoid, if at all possible, signing any contract that contains a "confessed judgment" clause.

15.  Remember the wisdom of CONTRACTS: The BOLD (large) print in a contract giveth, and the Fine (small) print taketh away.