I know a consumer can put a statement up to 100 words on their credit report explaining something. Is the CRA required to post the statement exactly how it is written? And does a statement really make a difference when applying for credit and there is an adverse item on your credit report? I found the below opinion letter fromt he FTC but I don't really understand it, (can't they just use everyday english??). Thanks!! http://www.ftc.gov/os/statutes/fcra/edwards.htm
The CRA can edit/paraphrase/re-phrase or refuse a statement as it is written. Do a search for Doc's suggested text for a 100 word statement. Keep in mind that in most phrasings adding a statement essentially ADMITS that the account is yours, this is what Doc's suggestion gets around, it phrases it around the Data Furnisher & the CRA not around you and the account itself. Now, there is no way to force anyone to consider your statement; especially since most automatic answers are "What is the score #" - Approved / Denied; NEXT.
Edwards basically said that the CRA had made gramatical changes to his dispute statement. The dispute itself was mainly identical of the statement submitted by Edwards, except for those gramatical changes. The act itself only requires a clear summary. SO if the CRA can boil your dispute statement down to a handfull of words, they can technically do so, as long as the abridged version means essentially the same thing as the complete statement.
