| Comment Number: | 522110-00043 |
| Received: | 5/18/2006 10:40:01 PM |
| Organization: | |
| Commenter: | Mark Bearden |
| State: | TX |
| 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 |
| No Attachments |
Comments:
As a taypayer and a lawful United States Citizen, I'm very disappointed in the power the Collection Agencies and Credit Bureaus have over my livelihood. A specific example is an account that has been "charged off" by the original creditor. This example is a a credit card I had through MBNA. The card was "charged off" in 2001, but there is a problem as I look at my Credit Reports today. I see that MBNA still shows this as a "charge off" and then sold the past due account to a 3rd party Collection Agency that also shows the same past due account on my credit. This is not fair and should be stopped. Once an original creditor sells the past due or charge off account, that entry should be removed from my Credit Reports. It is hard enough to recover from credit problems without having my elected Goverment Officals defending me on this subject. Please help consumers fight for their rights to Validate and Verify their Credit Reports without having to go to unnecessary measures, such as court. Please define what Validation and Verification mean so the Collection Agencies will stop giving us their interpretation of your laws. Please fight for the consumers rights. Sincerely, Mark Bearden