Re: Willful Negligence Yes, that is correct. The thing is, 99.99% of consumers have no idea what inquiries mean to one's score. And 99.99% of those that do know the facts, would never consider litigating over inquiries. It's that statistics that allows the bureaus' blatant disregard of the law. Well, used to - Experian now seems to think the risk in maintaining that policy is too high, so they've changed it. But EFX and TU still seem determined. Nothing can change that, except class-action litigation (which can only succeed after lots of field work with raw data) or FTC starting to take it more seriously. Small claims litigation would never provide a solution that goes beyond the particular consumer's credit file. Whatever you do, you have our blessing. Saar
Re: Willful Negligence Rite,but enough cases could sure keep them busy putting out brush fires: Just think of the hurdles it would put them through if just one suit per month was filed in each county in the country: Don't you think they would have their hands full ?
Marie! Help me! I have just confirmed that Experian lied to me. The completed a verification of 10 student loan entries (I disputed as duplicates) within 6 days. Suspicious, I called PHEAA and they said they were never contacted. At this point, I'd just like to get the stuff off my report completely. Should I send them a 5-day intent-to-sue letter? If so, do you have any templates? I've never done this so I don't even know what to write! Thanks, Tom
Stay low profile for now and get your documentation. Write the CRA cert return receipt requested (or call them) and get them to mail you a procedural description. You're asking for HOW they verified the info. I'll bet they say "computer"... but still get it in writing. Don't say a word other than that. Then, call your lender. Tell them you're having a problem with the credit bureau... tell them you know it's NOT them... you know the bureau isn't doing its job and you need their help. Have the lender write you a letter stating that as of this date, they have had NO contract from the bureau either by phone or in writing... Once you have those 2 items, you can start proceeding. BUT don't set off any red flags with the CRAs... not yet. Get your docs together. Also, once you get these 2 pieces of paper, request another investigation from the CRA. This time you can say you don't understand how they verified incorrect info... (but don't tell them you know they lied yet). Also, after you get the "proof" from both, write your lender and tell them you're disputing their reported info. Then a week later or so get a copy of your report. (when you tell a lender you have a dispute they are supposed to also put a notation on your account that it's in dispute...but it's rarely followed.) This sets up good faith effort on your part and you're setting up the papertrail for FCRA violations (which are more bark than bite since the CRAs cowrote the law with little teeth for the consumer). But still, it's going to be one weapon for you. Document all your calls, all your letters, keep copies of everything just in case. Later, you'll write the CRAs legal dept... but not yet. keep quiet for now It's kindof fun when you're just gathering your evidence.
