Re: "Inquiries" on Credit Report

Posted by Larry on February 09, 2002 at 13:55:45:

In Reply to: Re: "Inquiries" on Credit Report posted by Linda on February 09, 2002 at 11:18:23:

Linda, you mentioned "Those of us who are working hard to change things . . ." Can I help? I was contemplating writing my elected officials, both at the State and Federal level, to tell them that greater consumer protections is required to ensure the CRAs are accurately maintaining information on consumers. Corrections of reporting requirements are just and necessary since the CRAs appear to be enjoying "unjust enrichment" from the citizenry of this great Nation. They make it mandatory to furnish information about us before they will release information to us that they have been releasing to any one willing to pay for it, but then our recourse for correcting a wrong(s) they created appears with limited recourse. I have on my credit report a $26 collection charge that my son (who incidentally was only 17 at the time) created. I learned of the debt when I received a notice in the mail that had "Final notice" at the top. I contacted both creditor and collection entity, and vehemently argued that such charge was the first I had heard of it. Needless to say, it didn't matter and even though I paid it right away, my credit report still carries it as a negative, albeit shown as paid. For 7-years, I must have that carried on my credit report; over $26...it just doesn't make sense. I figure that with the recent change in bankrupty laws that businesses argued for and benefit from, it is time to ensure that businesses are held accountable for their failure to act in a prudent and responsiblemanner...especially CRAs. Thanks for letting me bend your ear, as well as those in our cyber audience. Whew!!!...I feel better, now.

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