|Received:||11/7/2004 10:33:55 AM|
|Agency:||Federal Trade Commission|
|Rule:||Advance Notice of Proposed Rulemaking, Request for Comment|
|Docket ID:||RIN 3084-AA94|
Comments:The credit companies use data, which they have compiled concerning an indviduals credit history, to sell for a profit. Each individual should have an opportunity once a year, to obtain free of charge, a complete copy of that history, including their current credit score. If any of the information the credit companies have is incorrect, the individual will have the opportunity to refute it and have corrections made. I have found that some of the information in my own credit history was incorrect, and even after challenging the items, was told that one item wold not be removed because they were sure that it was mine.They were incorrect, but at least I had the opportunity to correct their erroneous information. I didn't pursue the last incorrect piece of data because my credit score was and still is exceptionaly high, but others may be cheated out of the opportunity to make a purchase on credit because of incorrect information being supplied to creditors. Doesn't the term "personal information" interpret to mean that the credit history of the individual belongs primarily to each individual, not to the credit companies! The credit companies use these credit histories to earn a profit without much concern as to whether it is correct or not. The individual citizen must be given a chance to defend themselves if necessary. The bottom line is a free copy of their credit history and credit score at leasr once a year!