|Received:||12/23/2004 12:53:12 PM|
|Agency:||Federal Trade Commission|
|Rule:||Advance Notice of Proposed Rulemaking, Request for Comment|
|Docket ID:||RIN 3084-AA94|
Comments:The entire credit reporting system is so skewed in favor of the creditors, that the cost of a report is minimal as compared to the losses to which the consumer is exposed. Credit has become increasingly important, to the point that banks are checking credit just to get a bank account. A formal hearing process should be implemented that would force the creditor to PROVE that an willful act of non-payment has been perpetrated by the individual.