|Received:||5/22/2006 11:30:49 PM|
|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:One vital piece of information that governs how long a derogatory tradeline can be reported - the date of initial delinquency is seldom, if ever, reported on credit reports. I suggest the reason it isn't reported is because the collection agencies or creditors don't report it within 90 days of reporting a derogatory account, if ever. There needs to be much tougher laws regulating those that report info to the credit reporting agencies. Seldom do they report accurate, verifiable info that can be proven when questioned, yet it is allowed to remain on a consumers report. The credit reporting agencies violate consumer laws on a regular basis but are not held accountable. If requested, I can show literally hundreds upon hundreds of violations that they refuse to correct. Hold the reporters and furnishers of this info accountable as the law states they should be. Turning the other way doesn't cut it.