Does anyone know if anything ever happened with these discussions??? To address this problem, we urge the Committee to amend the FCRA to obscure the names of creditors or collections agencies that may indicate the consumer's medical condition. We further recommend that the Committee shorten the obsolescence periods for negative information when the collection and debt is insubstantial. Medical collections under $250 should not stay on a report for seven years; a shorter time is more appropriate. http://www.epic.org/privacy/fcra/ Chickslost
I agree, They should also lower the number of years for other Derog items as well, make it more in line with the actual crime or seriousness of the derog. I'm 30 days late one time, so I get penalized for 7 years?? What about those times when mail was slow, or the CC company was just slow in opening the bill and posting your payment to your account? I had suggested: 30 days late = 3 months on CR 60 days late = 6 months 90 days late = 9 months 120 days late = 1 year 150 days late = 1 1/2 years 180 days late/R9 = 2-4 years, depending on the amount. Any settlements, or R9's that eventually get paid, stay on for 1 year after the get paid. Paid Collections = 6 months to 1 year after paid, depending on amount that was in collections. Hell, I'd even go for: 30 days = 1 year 60 days = 1 1/2 years 90 days = 2 years 120 days = 2 1/2 years and 150 days = 3 years ... Chargeoffs/R9's, etc .... 3, 4, or 5 years, depending on amount ... FedUp2003
Funny story. (Not so funny at the time though). One of the erroneous CR entries that drove me to this board was a CO by a medical provider named ... ready for this ... Ohio Rectal Surgeons Inc. (A hemroid thing). Thought that was a little more than anyone needed to know. LOL
This Sure would break their bottom line for generating Bogus over charges on interest and insurance premiums wouldn't it?
