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| Equifax and Transunion Bankrupt |
This is a top news story:
I am catching up on news stories ,but this is just breaking today.
The Equifax Data Breach has released almost 50% of Americans Credit Data in the public that's half, leaving Equifax and Transunion Bankrupt.
What this will mean for consumers is CHEAP PRICES, more on that below.
What this means is your credit report is now useless, but don't worry about that. It means that your credit report is now useless so it has to be destroyed.
The credit reports have to be destroying because they have been released to the public, you can't use your old report anymore because they released all your data.
Be concerned though but don't worry, the bank will have to switch to a different credit check. More on that below.
This news report says that this is the most expensive data break in history and will cost them $600 Million Dollars in damages.
That is NOT CORRECT, that is Equifax lying. The Data Breach has let them and Transunion Bankrupt.
Equifax and Transunion are going to close.
This is why:
The breach at Equifax released almost half of the credit reports in America so far, it's going to end up being everyone.
That means that they also released Transunions reports.
That's because the Equifax Report and the Transunion Report and the same data.
So if Equifax's reports got released those are also Transunions because they are duplicate reports.
That means it's also a Transunion Breach.
You can tell they are bankrupt because they are in free fall right now.
They are saying that Equifax released half of America's credit reports, that also makes it a Transunion Breach because they are the same report.
Then they will say it was every report, even if they don't you know it is.
That means Equifax and Transunion were 100% breached through Equifax.
Now you can't trust that your credit report wasn't released because it affects 1 in 2 people. So you can guarantee that it was yours.
Now they can't use your credit report at the bank any more but this will take time to go through because Equifax released everyones reports.
When you go to the bank and apply for a loan you agree to consent to them looking at your credit, well Equifax broke the agreement and released everyone's data.
That means Equifax owns YOU money.
That means their will be class actions lawsuits on behalf of everyone in America, leaving both Equifax and Transunion bankrupt.
They think it's $600 Million in damages, that is a joke. The class action lawsuit will be for half of everyone in America leaving them bankrupt because they can't recover.
So you go to the bank and they want to check your credit at Equifax for a loan and ask you for consent, but Equifax already released you data....that means they are closed!
Transunion is closed because it's the same report.
The bank will want to check your credit for a loan through Equifax but Equifax already owes you money in a Class Action Lawsuit for releasing your data.
The government will have to step in to fix this.
Then, they can't say that they will make a new credit checking company because the report would be the same historical report that got released.
If they make a new report it can't include old data because it has been released to the public.
The old report has to be shredded and have to start from scratch from today and go forward because your credit history has already been released.
Plus I wouldn't believe anything on it now anyway because of the breach.
No one will agree to Equifax again.
Now everyone's credit report at Equifax and Transunion will be wiped because they are released to the public, you can never use that ever again because they only had one chance and they ruined it.
Now they need to make a new system.
You still owe the bank money for your house, but they broke the deal when you got your loan and released your personal info at Equifax.
The class action lawsuit against Equifax and Transunion just to see if they were involved is so large they are bankrupt.
This also ruins the identification cards because they released drivers license, photo and social insurance / social security numbers and now they need to make a new system. Like scrapping the id card and credit report.
I did not see this coming but it's what I was referring to earlier back in December on this blog.
Now people are clear of their credit reports because Equifax and Transunion are bankrupt and the reports are in the garbage now.
Now people will want pay as you go with no credit checks and secure government checks for loans at banks in private.
Then banks and companies will have to do their own financing to customers separately with no cross credit checks.
Competition for selling products, cars and houses across private firms with no credit checks will drop prices significantly because of the closure of Equifax and Trasunion.
This will take some time I am sure to go through. My advice is to join a class action lawuit against Equifax and Transunion today just to see if you get a financial payment from the government when they settle the case.
The business markets will be more competitive from place to place after there is no credit checks, I am hearing a new 2018 car may drop from $10,000 to $3,000 potentionally after they close Equifax and Transunion because of heavy competition, no credit checks and pay as you go options because all retailers will be fighting for your business.
This will significantly lower prices.
Don't listen to false reports from Equifax, join a class action lawsuit.
This is one of the biggest stories ever, keep following it.
More to follow.
Links:
https://www.cnbc.com/2018/03/10/in-the-wake-of-the-equifax-data-breach-consumers-more-at-risk.html
https://www.zdnet.com/article/hackers-stole-more-equifax-data-than-first-thought/
http://www.foxnews.com/tech/2018/03/02/equifax-breach-worsens-sparking-more-concerns-about-consumers-data.html
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