|Received:||5/31/2006 7:04:03 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|
i really think it is an unfair practice for a creditor to charge off an amount as a bad debt and then the "vultures" come in 1 year, 2 years, even 3 years later buy up the charged off debt and tack on interest charges, overlimit fees, from the point that the debt was charged off and when you send in a dispute letter it gets ignored and the only proof you are given is a fed ex signature sheet for a package delivered-no contents copies of what was in the package not your signature but someone else's who resides at the same residence and then a judge signs off on a wage attachment and you are garnished your wages up to 25% you get a break for a couple months then they (the collection attys) send the reissued garnishment order to the wrong employer and when they realize their mistake they send the garnishment to your employer but it last for about 6 months then you get a month off then it is in place for another 5 months-how do they expect you to live on one month of no garnishment and how is it fair to get that amount ordered by a judge when clearly it was charged off as a bad debt at a certain amount and then when they "the vultures" present the order it has doubled with all the other charges that had been tacked on from the time of charge off to now. I have a few Sherman Acquisition letters which i do not recongize the amounts nor the original creditor they list on the credit report and i have a wage garnishment on behalf of LVNV funding as well and i have a credit report from 2004 which states i have 3 real estate loans (incorrect) we only have one real estate loan and with our mortgage we are possibly up to 120,00 in debt and that includes my car note, but according to our credit report which has alot of duplicate accounts we are in debt to the tune of near 300,000 dollars-no wonder our debt to income ratio is so upside down because of the 40 or so account the report says we have to the actual 6! How can a consumer even think about getting out of debt when they are garnished wages unfairly and just because the collection attorneys say it is owed a judge signs off and i am a working class stiff and i cannot afford to hire an attorney to represent me let alone take time off from work because i won't be paid so that puts myself in the hole even further. Supposedly there are fair debt collection practices that these predators are supposed to follow but they don't and the only ones who pay the price for them not following the rules is the consumer who just cannot win no matter what they try to do. If anybody (regular consumer or friendly attorney) knows how a common working class individual who is just trying to survive can accomplish just that without being suffocated by accounts that you have not received any notification in over two years can fight the vultures and not have to pay the outrageous fees they tack on to very old accounts that the vultures buy out and get rich off of at our expense.