The "industry" is not illegal. The main problem that the FTC has with Credit Repair companies is accepting money up front before "ANY" service has been performed and misrepresentation of service.
Bill Bauer??? Hello Mr. Bauer, Thank you so much for your response. And I understand and agree with you. Maybe I worded this wrong? This is my case.... They are still bound by the FCRA, and they do have to respond. § 623. Responsibilities of furnishers of information to consumer reporting agencies [15 U.S.C. § 1681s-2] (a) Duty of furnishers of information to provide accurate information. If a consumer sends a request for validation of a debt that an OC is reporting (to the OC), the OC cannot simply ignore the consumers request (as what was done to the original poster). The OC, according to section 623 (a)(1)(B) cannot report disputed information to the CRA's (such as late pays) and by doing so (still reporting) is a violation. I sent a letter to the OC and disputed with EQ after the green card. The OC verified with EQ and updated the account, AFTER I disputed. So they are STILL reporting and STILL updating. Would that not be a violation? Thank you for your help and assistance. Mysti Summer
Bill Bauer??? Yes, I believe it would be. Now then, the question becomes one of what are we to do when companies fail or refuse to obey the law? We have just two options and that is to either let them get away with it or file a law suit on them. Few if any here go into their credit repair efforts with that understanding. It makes no difference whether we are talking about approaching poor credit problems with dispute letters sent to the credit bureaus or by dealing with the problems in what I believe to be more realistic approaches. Either way we need to understand that we can easily end up having to bring our problems to the courts for resolution. We have a few people here who apparently have been quite successful in doing so already but unless we are prepared to give positive examples and help to those who need it we have done little more than lead people down a dead end street because they cannot seem to come up with competent legal assistance from the professional community nor is there much of any way to learn how to do it themselves. Lacking the necessary helps people are fearful and will not stand up and fight for their rights. They look for easy solutions to their problems and when those don't work and no help for the tough situations is readily available they have no alternative but to give up. So, what will you do? Will you file a law suit on them or will you just give up and let them get away with the actions you believe are illegal?
Bill Bauer??? I think it's a shame that CRO's would be "illegal". jason_l ======================== What should be illegal is FICO Especially using scoring to determine prices. The END ************************* LB 59
Bill Bauer??? Thank you very much Bill Bauer!! Your response is just what I needed!! I do NOT intend to let them get away with this. I DO intend to sue and get this removed from my report. Nextcard has updated my report to "SETTLEMENT ACCEPTED", AFTER I disputed with them. Still no word from them to me personally however and I never settled anything with them. My first course of action now is to send them another letter, letting them know that they are in violation and that I intend to sue. If they ignore, the lawsuit will be filed. Thanks again... Mysti Summer
