Tue Dec 4, 2012, 11:38 AM
Mojo2 (245 posts)
Thanks Obama and Elizabeth Warren
For over three years, I have waged a war with Equifax Credit Reports over a huge collection account that was not mine. The account was for 12k from some online college and I had tried to have it removed by writing dispute letters, but was always stone walled by Equifax and the collection company. Basically, I was told by Equifax, the collection company has you home address, social security number, so we consider the debt valid. I had put it on the back burner for the past 6 months, but then me and my spouse decided to buy another house, so I would either have to pay the collection company or fight, so I choose to fight one more time. I decided to either file a court suit against Equifax and the Collection Company, or try to go through the Consumer Financial Protection Bureau, so I went with CFPB. I filled out the complaint form against Equifax and indicated that I wanted them to release a step by step process on how they weigh a consumers response with that of the collection agency when making the determination if a debt is valid. I requested a step by step procedure to be produced by Equifax, as I had indicated that I felt their system was slanted to minimize the consumers response. I submitted the complaint through CFPB and Equifax came back to them that it was their right to keep this information private, but the CFPB shot right back that if Equifax failed to provide the information then they would open a larger investigation into their practices, as the consumer has a right to know since it affects their ability to obtain credit. After about two weeks, Equifax came back and put in writing that they would be removing the collection and it would not be added back to their reports in the future. Hell, I still wanted them to have to open the curtain on how they screw consumers, but at least I got the damn thing removed and I owe that to Obama and Elizabeth Warren for giving the consumers a tool to use.
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Thanks Obama and Elizabeth Warren (Original post)