The 8/18/03 letter from the Office of the President is the all time best documentation of the First USA/Bank One disregard for the FCRA.
Julie Girmscheid wrote:
"The credit reporting that reflects, Charged Off with a balance, accurately shows that the balance was taken as a loss to the Bank and reflects your relationship with us at the time we received your notice of bankruptcy."
Doesn't Ms. Girmscheid know that credit reporting has to be UPDATED to be ACCURATE?
Just because an account once was open does NOT mean that it will always be reported as open. Just because you once owed doesn't mean that this balance should ALWAYS be reported.
Every time the status of an accounts changes, the reporting has to be UPDATED. The purpose of a bankruptcy is to ELIMINATE the debts.
Why does FUSA think they can report a debt that does not exist?
While only the regulators can enforce the "accurate" reporting requirements, the verifications after consumer disputes are FCRA violations the consumers can file suit over.
Get your documentation together, your disputes, the bureaus results, your damages, then sue the CRAs AND Bank One/First USA.
Please post any comments and questions in First USA - Bank One - First Bank
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