Hi guys -- Does the FTC have the authority to force a creditor to delete or change info on a credit report IF it can be proven to be incorrect?
FTC does not take action on individual cases. They accumulate data, if they get enough complaints about something they investigate and bring suit. By that time of course, the damage is done, LOL. breeze
Lionel, The FTC Regulates CRA's and CA's. You are better off filing a complaint with your State Attorney General. The FTC will not do anything for your situation. They will take your complaint and wait for a pattern. Your State Attorney General will actually launch an investigation on your behalf. Here is what happened to me. I sent validation letters to a collection agent. They ignored my letter. I sent another letter. (Both certified return receipt) You need to create an audit trail. They ignored both requests. I filed a complaint with the Pennslyvania State Attorney General. I thought they wouldn't do much for me. I faxed my complaint, then mailed my complaint with ALL of my documentation (including copies of the letter and copies of the return receipts, showing they did receive my letters). I went so far as to send the collection agencies a copy of my complaint (certified return receipt) Once again they ignored me. About 2 weeks after filing my complaint, I received a letter from a Agent in the consumer protection bureau which is a department within the Attorney General's office. Telling me they are in receipt of my complaint and they are investigating. The letter gave me the name of my agent, his phone number and fax number. Honestly, I didn't know what to expect. I was ready to go to my local magistrate and file a complaint against the collection agency. About 4 weeks after receiving my complaint, the Attorney General of PA's office sent me a letter telling me and I quote, "We are pleased that we were able to resolve your case to your satisfaction" The next page was a letter from the Collection Agency stating, " We cannot legally verify Mr. S***'s complaint and we have notified the bureaus to delete the tradeline" The AG sent me a copy of the letter from the Collection Agency stating this. Here is what surprised me, collection agencies must be able to verify the debt if not, they must remove it. The thing is, I would have been stuck with this tradeline for another seven years, because they reaged it. I am thinking rather than admiting they did something illegal, they just removed the debt. That is just my thoughts. They would have admitted wrongdoing so rather than admit that, they conviently didn't verify the debt. The Office of the Attorney General is another way of dealing with collection agencies. Don't hesitate to file a complaint. That is their purpose. I can say the Attorney General in PA took my complaint very seriously. That is just my two cents.
Terry - Xlnt stuff! Luckily I sent a copy to the Oregon atty gen when i sent my complaint to the FTC. (This is regarding Household/Orchard). I'll follow up with the OR atty gen on Monday. Thanks!
Two cents worth? Naaaahhhh! NO WAY, LKH That's such a valuable post that it's gotta be worth at least 50 cents, maybe more. Yeah, I know, just a figure of speech. Have a nice day
Re: Two cents worth? Sheesh! Been a rough nite fighting that damned virus. Sorry about that. It was a great post, however. but as I said at the last line of the reply I made, Have a nice day and a great weekend.
