@MarineVietVet wrote:
I agree with guiness.
This entry on your report is considered an initial contact just like a phone call or letter.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
I was afraid that was going to be the answer!
Seriously though, it's sortof unfair from the consumer's standpoint. I mean, we all know the "big" debts that we owe, like CC's, car loans, mortgages, etc. But off-the-wall things, like an unpaid parking ticket from 5 years ago, can be easily forgotten. The address the CA had on file for me was so old that even if they tried sending a letter, it wouldn't get to me.
Thankfully I have no concerns about it being on my EX right now since I'm not looking for new credit....but...if this would have happened three months ago when I was financing my house, I would have had a meltdown!
I think CA's should make an HONEST attempt to contact debtors before throwing stuff on their credit reports. Especially since credit has become such an integral part of how business is transacted these days...there needs to be more accountability. They pull credit for insurance, utilities, directv, the list goes on!
That being said I think there should be some checks and balances in place before companies (CA's or otherwise) can derail a consumers credit profile. It's too bad that an unpaid parking ticket can force an otherwise creditworthy person into subprime hell. My score dropped over 75 points. yeesh.
OK off my soapbox for now!
