| Comment Number: | 522110-00062 |
| Received: | 5/22/2006 10:36:57 AM |
| Organization: | |
| Commenter: | Ruth Gutierrez |
| State: | NC |
| 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 |
| No Attachments |
Comments:
After requesting my credit reports last year and attempting to correct mistakes here are some of the items I have noticed the credti reporting agencies and those who furnish credit information to the bureaus consistently report in error: 1. I have a Capital One charge off which has the wrong date of last activity as this company changes this date everytime the tradeline is disputed. They are reporting the wrong limits and the wrong amounts for the tradel line. 2. Emigrant Mortage reports as 30+ days late any payment that is not received on the due date for example if a payment is ten days late it is reported as 30 days late to the credit bureaus. This is inaccurate reporting. I received a letter from this entity indicating this reporting is standard operating procedure even if it is inaccurate. 3. On my husbands reports there is an account for HFC which although it was paid off as of February of 2006 it is reporting a current status of 30 days late. This is interpreted on the credit scoring systems as the account being currently deliquent of course depressing his credit score. The account has been disputed several times with the credit issuer and they requested the Credit bureaus fix the error but it has not been done. The credit issuer sent a letter indicating the account is not 30 days past due and when it was forwarded to the credit bureaus they did not correct the mistake as the company now has changed their name from HFC to HSBC. 4. A credit collection company reported accounts as past due these were disputed last year and they have recently been reinsredted into the credit report. There was no notice fromthe credit bureaus regarding the reinsertion as indicated by the FCRA. I really hope the new regulations addresses these situations which I am sure are not the only problems the credit reporting agencies and the credit bureaus cause. The new regulation should be enforced.