There is chex systems that is mostly banks that put u there and that can only report for 5years than the constitution breaker of um all lexus nexus with all their different reports u can pull on anyone total invasion of privacy. Look bottom line the debt isnt owed! What I was trying to express n I think it got lost in translation is that there are supposed debts that are very old that CA's will make u believe are valid if you dont keep good records or dont have a stallar memory. Let me put it to u this way I dont game the system I feel however the CA's do. Sometimes they will even throw something on your report even though they know its a zombie debt. The person waiting to close on a mortgage will pay it even if its not theirs to get it removed from report or not give them the chance to put it on. I believe I wrote along note on one of the threads about the backward practices that can cost people big. THe end
thESE WERE THE COMMENTS i MADE RE THIS VERY THING A FEW MONTHS AGO!! First the party that supplied an illegal loan is liable. Contact an attorney in your state for specifics. Robert while I appreciate that we the consumer can sue civil to make them be compelled to produce info lets face it thats a rarity. Most people dont sue or take debt collectors to court. Although the CA's can be held liable for false info on a report, it is done all the time. Or else how can one explain how zombie debts miraculously appear on ones report ie when going for a mortgage as an example. The CA's know that chances are good a consumer will pay it for fear that it will interfere with a closing on a mortgage. Then they submit to delete, thats called ransom. the kidnapping of your credit. Because the process is lengthy that is exactly why the CA's target people applying for a mortgage. It should be illegal for any creditor to see what inquires a consumer has. If the system was set up to automaticaly report tradelines as inquiries do the cc company or creditor would be protected. Perhaps the FCRA needs some amendments. Remember also that we arent a giant community, most dont realize its existence, and the population as a whole is pretty credit stupid, (wrong info out, variations into determining what the FCRA is and isnt. This is a larger isssue that needs to be brought to the attention of our constituents. And why in gods name would a bill to protect the consumer give such a lattitude to a CA as to validating the debt. In theory if they are not compelled to validate a debt they can destroy ones credit by simply putting it on report then selling to another agency. Pretty easy way to make money until the govt discovers them and shuts them down. Making the consumer a dog that is chasing its tail. A vicous cylce that a consumer could have on a report for a full 7years plus the notorius 180 days !@!!!!!!