|Received:||3/18/2005 10:46:17 PM|
|Agency:||Federal Trade Commission|
|Rule:||Notice of Proposed Study on the Effects of Credit Scores and Credit-based Insurance Scores on the Availability and Affordability of Financial Products|
Comments:Junk Debt Buyers and the credit reporting Bureaus are wrecking havoc on people's FICO scores, by reporting false/misleading/inaccurate information on credit reports. Several Junk Debt Buyers are listing themselves as "Factoring Companies" to re-age debt that is past SOL and the 7 year reporting period. I myself have been a victim of false credit reporting by Arrow Financial & Household Bank (who bought charge-offs that I had previously disputed as "not mine" and were not appearing on my reports. Both are now reporting as factoring companies on Equifax, which has hurt my FICO score. I am also currently in litigation with Arrow Financial, who is sueing me for a debt that is not mine. Protecting my credit and the accuracy of my reports has become a part time job for me.It is hard to fight back, as many judges are not familiar with the FCRA and FDCPA rules.