Your Questions About Credit Rating Agencies http://bit.ly/pIh0P9 William asks…What's the best way to petition against credit rating agencies?I believe that employers should be forbidden to fire/hire based on a person's credit history, credit report, or credit worthiness. Frankly, I hate all the credit rating agencies (Equifax, Experian, Transunion, Moody's, Standard & Poor).

There is no transparency. There should be a law where we know exactly how it's calculated. What do you think is the best way to start a war against these companies?Credit-Repair-Guy answers:There is a law for you to know. By law you can get your credit rating for free once each year.Betty asks…Do you find credit rating agencies extremely unresponsive or antagonistic?As long as untold millions of people are "blacklisted," at least half the potential carbuyers or major appliance buyers will never be eligiable to participate in the financial system. That will ensure there is no recovery. Things will only keep sliding downhill with this oligarchy of three agencies blocking everything. I have a false bankrupsty on equifax and simply cannot get them to change it. It has been impossible to phone them and responses by writing i extremely long and totally unsatisfactory. The credit rating agencies need CHANGE!!!!!Credit-Repair-Guy answers:Look at all the unquestioning saps.

Credit agencies have no incentive to report accurately. Problems stay on some people's accounts for ages because there is nothing monetarily that makes them want to change it either way.

I agree with you. It is answerers like the ones above that makes me think that we don't deserve any form of fairness or rights because we lack the ability to continually fight for them.

Bye bye America. You deserve what's coming.Maria asks…What role do the credit rating agencies play in a bond issue?What role do the credit rating agencies play in a bond issue?Credit-Repair-Guy answers:A credit rating of a bond indicates the paying ability of the issuer of the bond. The credit rating will affect the pricing of the bond among other factors. The lower the credit rating the lower the price of the bond and therefore the higher the yield. Credit rating agencies hopefully give an unpartial rating to bonds. However we have to examine who pays the agencies their fees. In general credit rating agencies affect the pricing of a bond based on their reports.Jenny asks…Why doesn't Section 4 of the 14th Amendment apply to credit rating agencies?Section 4 of the 14th Amendment states "The validity of the public debt of the United States, authorized by law ... shall not be questioned." So how come the major credit rating agencies (like Standard & Poor’s) are allowed to question it?Credit-Repair-Guy answers:Rating agencies aren't making a determination of whether or not the public debt is valid, but rather whether or not that investors are going to get in return are going to match what they're promised. If the government doesn't cut the $4 trillion dollars from the budget as those credit agencies have called for, they're going to downgrade the rating on the US's public debt because they expect the money that will be paid back wont be worth nearly as much as the money used to buy those securities (e.g. Hyper-inflation).Carol asks…I am looking for info about how the credit rating agencies operate. Help!?I am coordinating a documentary project for school. Where can I obtain more information as to how the credit rating agencies really work? (eg, how much profit they make each year; how they operate; are there any investigations about them going on now, etc, etc)Credit-Repair-Guy answers:It shouldn't be hard to Google Standard & Poors, Moody's, etc. And find lots of info.Powered by Yahoo! Answers