credit report gov
credit report gov
What Gov’t agency regulates what credit card companies report to the credit bureaus?
I had a credit card a few years back that I got late on. A few months later, they had charged off the amount and we reached a settlement agreement. I paid the agreed-upon amount and they sent me a letter for my records saying that there was a zero balance. That was in 2/2003. Ever since then they have been reporting me 90 days late each month, with no balance and no payment due, but 90 days late. I’ve discovered this each time that I see my credit report, which has been 2 times per year. Each time I call them, spend 3 days on the phone and get another letter. Then I fix my credit report. 2 days ago, I checked my credit and there it is again. They are reporting me 90 days late for the past 39 months, and the card has been at zero for 4 years now! This is the 7th time I’ve done this with them. Who can I file a complaint with so it finally stops? Needless to say, my interest rates on my other cards are as high as they can go because of this inaccuracy, and I’m frustrated!
First, don’t talk on the phone. Send a letter, registered mail citing the Fair Credit Reporting Act. Google it and see your individual rights.
The Federal Trade Commission regulates credit and bureaus. Also, your state Attorney General’s office may have complaint lines.
www.clarkhoward.com is an excellent resource to combat these credit thugs. Also, send a letter to all three credit bureaus disputing this particular account, at the same time while you are disputing it with the credit card company. Send photocopies of your receipt where you paid off your credit card and the settlement agreement. If it continues, sue them. Go to www.nolo.com and purchase how to sue in small claims court. Good luck, credit agencies are nothing but thugs and they need stiffer and harsher sentences for breaking the law.
