|Received:||5/11/2006 12:59:40 AM|
|Subject:||Procedures to Enhance the Accuracy and Integrity of Information Furnished to Consumer Reporting Agencies|
|Title:||Advance Notice of Proposed Rulemaking|
|CFR Citation:||16 CFR Parts 660 and 661|
Comments:RE: 3084-AA94 As a person trying to by my first home I have had a crash course in credit reports. I have seen all three of my credit reports as well as my husbands and I cannot believe the number of errors and the vast difference of information reported among the three. What one credit report has right the other two have wrong. There were birthday errors, addresses listed where we have never lived, accounts that were closed still showed open. The credit agencies need to be held accountable for the accuracy of the information they display. When I disputed one of the items on my credit report they sent me a one line statement that said it had been verified to be accurate, that means absolutely nothing to me. How was it verified, who should I contact, am I supposed to just take their word for it? I also believe that anyone who accesses my credit to decide if they will grant me credit, insurance, utilities or a place to live that they should also have to contribute to the report. Why can my insurance company raise my rates based on my credit report yet they do not report that I pay my premiums on time every month? Why can my landlord decide to rent to me or not based on my reports but they do not have to report that I pay my rent on time every month. Anyone who wants to use the information should have to contribute to it as well. Why do the three agencies not work together to make sure all three reports are accurate to the best of their knowledge? I would love to see more protection for consumers, an easier to read credit report, more accurate reporting, and a productive means to dispute and correct reports.