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Monday, June 04, 2007

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Comments

R. Evans

Deepak, thanks for the blog post. I think everyone should know what is in their credit report. I found a site which shows you the top sites to get your free credit report - http://Credit-Report.SuperSnappy.com - hope that helps.

sample of a last will and testament

Hi,

I heard some thing about Watters v. Wachovia impact that deals with LO's, Mortgage Brokers, etc. I am a salesman, not an attorney and cant understand what this means. Is there somebody out there in attorney land that can explain if this court action impacts independent LO's and Mortgage Brokers.B

Jennifer

All of the CRA's are guilty of willful violation of the FCRA. There is too much money to be made in the credit reporting business and not enough enforcement of the laws in place.

As a reporter and volunteer advocate for consumer rights, I have interviewed thousands over the past several years about all aspects of credit, lending, and the credit reporting agencies.

There is a woman who had a derogatory trade line that she beleived was part of a mixed file. She never had an account with that lending institution reporting the charge off. She disputed with all three CRA's and they all claimed it was "validated". The woman disputed with the original creditor obtaining proof the account did not belong to her. She send this letter to the CRA's requesting deletion. One of the three disregarded the follow up letter, the second used the premise that they already investigated and found the information accurate, the third actually responded claiming the letter from the original creditor was fabricated and not authentic. In the course of my investigation, I sat on the line while we did a 3-way call to the original creditor. I heard this woman inquire as to why they claimed her documentation was not authentic. The original creditor denied having made these allegations, and further alleged that no one from the CRA's ever contacted them. They also admitted they are reporting the trade line as defaulted, but not on the consumer who is wronged - but the actual owner of the account.

In another case, a single woman disputed a trade line referencing a reposessed car. The woman did own the same make/model of car as referenced, but her car was paid for in cash and not reposessed. The car company ran her VIN, her social, and had no explanation for the mix up on two of the three CRA's. They produced two separate pieces of documentation requesting the trade line for the charge off/reposession be deleted as it did not belong to her. One CRA deleted as instructed, but the other sent her a letter explaining she was responsible for her husband's bills. She called the special investigator annoyed as she had never been married. The special investigator insisted the woman was lying and requested proof that she was not married. When she asked who she allegedly married, the special investigator became abusive telling her she should know her husband's name.

In yet another case, a woman tried to buy a three in one report with monitoring. She was told that one of the three CRA's reported back to them her social security number was not found. The woman called the number the service provided, and the CRA confirmed they had no files available to her. She asked for something in writing and they consistently refuse to provide it. We all know under the laws, the CRA's are supposed to provide a letter confirming no record on file.

In yet another instance, the CRA stonewalled the consumer who thought his identity had been compromised based on an alert from his bank notifying him of questionable charges that were unusual. The bank resolved quickly and recommended he file a police report, the FTC forms for identity theft and immediately get his credit reports. Great advice! The first CRA supplied his report immediately on-lin and within 24 hours. There was some damage he worked through quickly. The second CRA provided some resistence delaying issue of the credit report by 90 days. The third CRA never provided copies of reports first with their requirement of a written request, second requesting proof of his identity, and every time he sends his identifying documentation, they send another form letter requesting the same information. This guy has been fighting the third CRA and still no closer to getting that report for the past six months.

This only begins to illustrate the need for FCRA enforcement and reform.

Laser Smoking Cessation

Found this site really usful, been having trouble with my credit report for a few weeks and there are some really killer tips on this page.

Thanks

Natalie Kaye
http://www.istopsmokingcigarettes.com/

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