INSIDER REPORT
          

Randy Padawer (PsychDoc) is a clinical psychologist whose research interests range from
personality testing to consumer credit. He has been featured in publications as diverse as the
Journal of Personality Assessment, the Journal of Consulting and Clinical Psychology, and
Smart Money Magazine. Dr. Padawer co-wrote the best-selling "FICO 850" seminar for
The Motley Fool, and he has consulted for numerous companies and others regarding
consumer behavior and credit reporting.

PsychDoc's Credit Insider Guide to
CREDIT BUREAUS AND CREDIT REPORTS

Psychosis #1: The nature of credit bureaus.

LET'S BEGIN with a startling notion: The credit bureaus don't want you to read this. Why? Probably because those agencies, along with the much larger banking institutions which depend upon them, desperately need consumers to buy into a few oft-told myths which perpetuate their respective businesses. Unfortunately, though, not knowing the truth can cost a consumer tens or even hundreds of thousands of dollars during an average lifetime.

Where credit bureaus are concerned, there are essentially two sets of "truths." On the one hand, there is