• Report: #900466

Complaint Review: FTC.GOV

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Wed, June 20, 2012
  • Updated: Wed, June 27, 2012

  • Reported By: abusycompany — houston Texas United States of America
FTC.GOV
Internet United States of America

FTC.GOV Federal Trade Commission Allowing 3 different credit reporting agencies to all have different information and scores Internet

*Consumer Comment: The different point of view

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

Our credit score is one of the most important numbers we have in our life. It effects the kind of jobs we can get, where we quality to live, what we qualify to drive and many other things.

I feel our credit report and credit score system needs to be regulated and controlled, and currently it is not.

We currently have three credit reporting agencies that have copies of our reports and scores. TransUntion, Experian and Equifax.

I run my report once for free each year. I only get my report and not my score. It cost me money to get my score. Why is this service not 100% free?

I never have the same data on all 3 report. Some reports have the same accounts, but different amounts of what has been paid, owed and different dates. Sometimes one account is reported on one agency but not the other. Sometimes one account has been sold or transferred multiple times to different debt collectors and this one account is on your report multiple times. I once had 3 different companies all trying to collect the same debt, they all 3 had different amounts I owed them.

We need regulations in place to prevent this mess, and our government (ftc) is not doing anything to help.

There needs to be an extremely factual system in place that prevents incorrect and fraudulent credit reporting. There should be no way that one account should ever have different data across 3 different agencies. There should never be one account that has 3 different companies all claiming they own your account and they all 3 want different sums of money.

I demand regulation. I demand ONE credit report with ONE credit score, that is 100% free to view at ANY time. Just just free to "view" ONE time a year with a requirement to PAY to see your SCORE.

I also demand that job employment should NEVER be able to run a credit report on you to see if you are eligible for a job. There are too many variances in our report/score at the moment that can make your report/score POOR, thus making you unable to get a job.

Incorrect and Fraudulent reports can mess up your score and prevent you from getting approved to own a car, or own a house.. even get a job.

A few issues I am currently dealing with at the moment are outlined below this line.
-----

1. An incorrect social security number was tied to my credit report, without my consent or knowledge, and debt that was not mine was affecting my report and score. How the f*** should this ever be allowed to happen?

2. Accounts that were already paid off are still showing on my report.

3. By law, debt that is over 7 years old from the date of the last payment is not allowed to be reported. I currently have companies that keep adding fake payments to keep the debt going. How the (((REDACTED FOUL LANGUAGE))) can this HAPPEN!?

This report was posted on Ripoff Report on 06/20/2012 02:19 PM and is a permanent record located here: http://www.ripoffreport.com/r/FTCGOV/internet/FTCGOV-Federal-Trade-Commission-Allowing-3-different-credit-reporting-agencies-to-all-hav-900466. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on FTC.GOV

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

The different point of view

AUTHOR: MochaG - (United States of America)

Do you know the differences between FICO and those 3 credit bureaus? They are 2 separate entities. The reason I ask because you were talking about "score" and said you did not get it when you asked for free credit reports. You should search on the Internet for their meanings, so you will be able to understand the differences. Also, you should research about how each of the bureaus is being used by creditors.

To me, having 3 credit bureaus is better than only one. Let me ask you this. What if the only bureau screws your credit, where would you be able to find other evidence to verify that your credit is actually good? Also, some creditors favor one over others (check from 1 or 2 bureaus). If one out of 3 is bad, you still have a chance to be seen as having good credit. If you have only one, you will be out of luck.

Let's take a look at your current problems with credit.

1. An incorrect social security number was tied to my credit report, without my consent or knowledge, and debt that was not mine was affecting my report and score. How the fuck should this ever be allowed to happen?

No, it should not happen, but it could if the people who did the data entry screw it up. You cannot stop human errors and it could happen to anyone. Sadly, you are one of them. What you need to do is to contact them and follow their instruction to correct it. Then your record will be clear from this erroneous.

2. Accounts that were already paid off are still showing on my report.

Actually, this is the GOOD part of your credit. If you paid it off, it shows that you are reliable and will likely be a good candidate for a loan because you "paid it off." It should stay in your credit report as long as it can. Again, you should search on the Internet and read about how they determine the credit score.

3. By law, debt that is over 7 years old from the date of the last payment is not allowed to be reported. I currently have companies that keep adding fake payments to keep the debt going. How the f**k can this HAPPEN!?

Again, this could happen to anyone. What you need to do is to contact the credit bureau and ask them what you should do. You need to follow their instruction. I am guessing that they will ask you to directly contact those companies to straighten out what's going on. It is the consumer reliability to their own credit.

I had a problem once before when I tried to buy my house. Two out of three were excellent but one was good because there was an unpaid balance from a book company. The charge was way back 3 years when I ordered a book but did not receive it from them. I contacted them back then to cancel the order and they accepted (but no letter or any written proof and that's my bad). As a result, they put the charge on my credit. I had to pay the charge and enforced them to write a letter to the bureau to clear my credit. After a week or so, all bureaus reported my credit as excellent.

In conclusion, I suggest you to attempt to fix your bad credit by contacting the bureaus and try to work with them. Instead of suggesting something that bend the rules to favor yourself (or thought), working and following the existing rules would be easier and you will see the result much sooner.
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory