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     | Friday, February 25, 2000 - 03:36 pm  At http://www.consumeraid.org/creditnightmare.htm you can see for yourself how AWFUL the current credit reporting system is. Denise is suing, and I hope that the jury award will not only enable her to retire VERY comfortably, but that the jury will send a painful (monetary) message to creditors and CRAs. I'd like to see a verdict requiring a $50,000,000 payment to establish an organization to ENFORCE what little consumer protection the law provides for. Millions of American consumers are suffering tremendous financial and emotional distress due to CRAs, creditors and collection agencies completely ignoring the law. NOBODY should ever have to live Denise's nightmare.
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| | Wednesday, August 23, 2000 - 03:18 pm Because the consumeraid.org site has been down for a while now, I'm reposting Denise Richardson's summary here: "In 1988 we took out a Mortgage with a Bank. Upon settling a dispute, at this time in 1994, my husband and I paid off this mortgage, a mortgage of which we never missed a payment nor have we ever been late in making a payment. We received the Discharge of the Mortgage, which was promptly, duly recorded in the appropriate Registry of Deeds. Approximately 1 year later we were contacted via telephone and mail that we would be foreclosed on if this same mortgage (that was paid off) was not brought up to date as they alleged we owed three months payments. I contacted Sen. Rosenberg, whom at that time was the Chairman of the Banking Commission, who in return contacted the Legislative Banking Liaison to contact this bank to get this straightened out. I then received a letter from the bank telling me that they were correcting their error and their computers to reflect it was their error and forwarding notices to all appropriate credit bureaus. More than a year or more lately this bank was sold to another National bank. Several months later, While my husband and I were in Florida we attempted to co-sign a car for my stepson. We were told that we had exceptionally good credit except for a "mortgage write-off" to this same particular large bank. To our shock we had to explain we never had a write-off. Upon returning home I contacted the bank immediately and received notice faxed back which stated "Bank error" correcting this erroneous information and said they were faxing to all credit bureaus. We again thought it must be finally corrected and finally over. Months later we tried to co-sign for a car for my daughter. To our horror, amazingly, again the same scenario happened. Turned down for "mortgage Write-off"! I immediately contacted the bank representative that had sent me the last letter and he told me it was NOT their fault that they had wiped my name out of their system and that it had been corrected. I disputed reports with the credit bureaus and bank in writing insisting that they review my documentation (i.e. Mortgage discharge) and delete the inappropriately re-inserted erroneous information and reflect my dispute. Approximately, in June of 1997 my husband answered an offer for free gas if he applied for a BP Gas credit card. He applied. Our incredible response was "Turned down for mortgage write off". When I received the notice I immediately contacted the bank rep. once again and was told in no uncertain terms, NOT to contact him again, as he was not responsible for the erroneous information! I wrote for credit reports and found again not only had the bank re-reported but also they had added an additional "Mortgage write-off " which had reflected another account number and they unconscionably had inserted and reflected alleged actual dates in 1996 they claimed were 90-day late payments (i.e. March 1996, 90 days late and October 1996, 90 days late)! At this point it implied we had two mortgage write off's to this particular bank with two different account numbers and several 90-day late payments on each. More re-investigations and disputes were done and one credit bureau indicated they corrected and removed it off our report. One bureau sent a letter back stating "after our investigation with the furnisher we found the information to be correct". Incredibly they only removed the additional, duplicated mortgage write-off which contained a different account number! More disputes and re-investigations with hopes this would forever and finally be corrected….. On or about August, 1998 we received a demand letter from a collection company who stated they "purchased" our mortgage "debt" from this bank and they were demanding over $21,000 plus accrued interest. We were horrified. We disputed the erroneous information over the telephone and in writing and we continued to receive notices that demanded payment and indications they would "take any available remedies to collect this debt". During one phone conversation they stated they had requested a second investigation from the furnisher because the bank never responded within the required time limits imposed on them by law and they still had not responded to their first request. In fact, the women their told me that if what I was telling her was true, they by law should not be reporting this information, should not be contacting us and they never should not have "sold" them this non-existing debt. To my shear terror again, when I received new credit reports, this new Collection company was now additionally listed on our reports as bad debt, in collections and reflected another mortgage write off. At this time, being emotionally and physically drained, I went to an attorney, as I could no longer handle the enormous anxiety and emotional distress. This whole nightmare has taken its toll on both my husband and myself. What I learned next was equally as frustrating and overwhelmingly terrifying. I learned that even though the congressional purpose behind the Fair Credit Reporting Act (FCRA) Statute was to ensure that consumers were protected from inaccurate credit reporting, it's amendments have caused the opposite effect! Section 623, as amended specifically bars consumers from suing furnishers of information and only allows enforcement of the statutes regulations by the Attorney Generals office and the Fair Trade Commission. Upon contacting both offices I was told to contact and attorney, as they could not handle individual complaints only class action cases. After exhausting my ability to get the furnisher of this information or the credit bureaus to listen to me and take corrective measures to prevent further damage to our credit reputation, I find I am forced into expensive litigation against 5 major corporation. The laws that are supposed to protect consumers apparently have huge gaping loopholes that the paid bank lobbyists apparently were successful at including in the FCRA making it impossible for consumers to obtain the intended protection. My attorney sent the bank a Massachusetts Chapter 93A letter (unfair and deceptive practices) in November putting this bank on notice that they had 30 days to respond and demanding them to clean up our credit. Their written reply received back stated our credit "has been cleared up and has been cleared up since mid December". I have a letter dated Jan. 9th, 1999 where my husband was again humiliated and turned down for a lower rate credit card even though we have exceptional credit other than this erroneous information. Incredulously, even though they had been properly put on notice in November that their errors were continuing to effect our reputation, unconscionably in Jan, 1999 they had not taken any effective measures to correct their actions. Further, our latest credit report dated January 19, 1999 showed their errors were compounded. On Jan. 29, 1999 we received the credit report update requested. Not only did it still reflect the incorrect derogatory information and the bank's "mortgage write offs" but it now included an inquiry from this bank who had apparently requested a copy of our credit report without our permission and without a permissible purpose. They incredibly and recklessly reported their purpose for obtaining our report as "collection purposes"! We were mortified, humiliated, and shocked that this bank would disregard our rights yet again. We felt further victimized with two additionally unnecessary inquires (the bank and credit card company) which not only affects our credit history but of equal importance, our credit "Risk Score" for future loans and interest rates. Scores are calculated based on inquires as well as your good/bad credit history. We had already supplied them the info they needed to correct this information. They did not, have a need to request a credit report especially under false and misleading pretenses and should have known this would negatively impact our credit. By our attempting to obtain a loan or credit cards under these circumstances it only compounds the problem by further damaging our credit due to the fact that our credit reports will continue to acquire additional inquires and therefore further lower our credit rating! We have been paying higher interest rates on our current credit cards due to their errors and can not obtain nor consolidate to a lower interest rate loan or credit card until they correct and notify all companies and credit bureaus involved. Our only option now is forced litigation against the bank, Collection Company and the three credit bureaus. I should not be forced into expensive litigation and endure their acts of defamation when we are innocent consumers that have done nothing wrong. We are trying to gain the attention of the legislators to correct the laws that were created to protect us from the effects of inaccurate credit reporting and hold furnishers accountable for their willful and negligent actions that ruin our reputations. The FCRA says we can sue credit bureaus but not the furnishers, yet it is the furnishers that provide and report the inaccurate information. The credit Bureaus blame the banks and the banks blame the credit bureaus and the consumers are put in the position of having to prove their innocence and defend their destroyed reputations. The congressional purpose of the FCRA is to protect us from this egregious behavior yet they take away our access to the courts and our right to sue "furnishers". The FCRA should, at the very least, should delineate penalties and fines when they do not adhere to the regulations. We are totally innocent yet we have to now endure long, expensive litigation against 5 large corporations just to receive what all consumers should expect and deserve… accurate credit reporting. I am committed to changing the FCRA by getting Congress to hear the pleas of the consumers and to raise consumer awareness to the injustice of the Fair Credit Reporting Act. If you can help me with this endeavor, I would be very grateful. Thanks and Best Regards, Denise Richardson E-mail: empdata@javanet.com"
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| | Sunday, April 23, 2000 - 07:51 pm Article at bankrate.com about Denise's suit http://www.bankrate.com/brm/news/special/19990820.asp
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| | Tuesday, August 22, 2000 - 01:42 pm UPDATE: August 11, 2000 From Denise Richardson, empdata@javanet.com To all of you who have emailed, called and posted on various web sites with kind words of support throughout our long battle seeking accountability with Fleet Bank and the Credit Bureaus, my thanks and appreciation cannot possibly be expressed with words. It was your letters and support that often gave me the strength to continue when I needed it most. Since there are too many of you to individually email and keep you up to date as promised, I decided to update with this post. As of this date, we have signed a Settlement Agreement with both Fleet National Bank and Portfolio Recovery Associates and we have a verbal agreement to settle with both Experian and TransUnion to be signed within a week. Equifax is the only defendant remaining in our Federal case in which the court date, to the best of my knowledge, will be sometime early 2001. I am not precluded from discussing the merits of the case or anything leading up to it. I am however under a "gag" in releasing the amounts settled on and the terms of the Settlement Agreements. Fleet has authorized me to state the following "Fleet regrets any difficulty suffered by the Richardsons in connection with this matter and reiterates its commitment to ensuring full compliance with all state and federal laws pertaining to consumer data reporting". We acknowledge Fleet’s commitment to ensuring the accuracy of consumer data reporting and hope that this first step will serve as an impetus throughout the industry. Many of you have commented on the fact that I have not been posting on the public boards for awhile and my once loud, vocal voice had been unusually silent. There was a reason for that silence. The CRAs and creditors monitor these boards. In one of my many depositions I was asked to provide them with every name of every person I ever spoke to regarding this case as well as every email I ever sent or received. Of course, an impossibility since I have been a victim of continual errors by the creditor for 8 ½ years and 5 ½ of those years with the CRAs. Then, what I find unconscionable and a precedent that cannot be set is the invasion of not only my privacy but also yours! Fleet filed a motion for not only my emails and posts, but my hard drive as well. I have absolutely nothing to hide but I have privacy and Constitutional rights that I would not allow them to take from me. I have no business relationship with them, nor am I an employee of theirs. I am simply a consumer who has freedom of speech, an absolute right to privacy and the right to hold them accountable in a court of law after exhausting all other attempts to force them to adhere to the laws. I was equally upset at the prospect of being forced into intruding on innocent consumers privacy rights by releasing private emails that were sent to me. Some of you told me of your own cases and/or the fact that you were contemplating a case and I would never feel right in betraying that confidence. I find it ironic that for years I have attempted and fought to stop them from defaming me and their fight seemed to be simply to stop me from telling the truth! Additionally, I believe the only reason they wanted my emails and hard drive was for the purpose of finding out how many other innocent consumers or attorneys could potentially be either a witness or provide proof that my case was not "unique" but rather a large systemic problem. If a consumer was forced to turn over their hard drive and emails from or to consumers who had every right to expect privacy it would have a "chilling effect" on our constitutional rights. I have, unfortunately, had my eyes opened on several levels and learned many lessons on the legal system, the industry itself and the lack of knowledge that both consumers (myself included) and attorneys not practicing in consumers issues, have regarding these types of cases. I have heard from many of you that the single most difficult experience is finding an attorney that is knowledgeable in these types of cases and can afford to go up against Goliath corporate law firms without bankrupting their small firm. Secondly, we all know the extreme frustration, exhaustion and anxiety we go through trying to get the creditors and cra’s to hear our complaints and take corrective action after numerous letters and phone calls go unheard and unanswered. Throughout this ordeal, I kept being haunted by thoughts and questions of how could I turn something so damaging and intrusive in my life into something good? How could I make a difference using the knowledge I have gained through this experience and apply it where needed? How could I heal? I want to make a difference in assisting consumers who are victimized by Goliath creditors and the credit bureaus and network them with "consumer" attorneys who understand this area of law but may not be able to afford the enormous costs associated with the bombardment of paperwork involved in a lawsuit up against rich corporate law firms. Here is how it can be done… Watch for soon: CONSUMER GUARDIAN NETWORK, INC. Help fulfill our goal of providing equal access for equal justice under the law. The organization is to be started with a portion of the very funds received from the settlement received in this case and any verdict awarded in our continuing case with Equifax. Their own money will be used to hold them accountable. Dale Hartley of Consumerama and ClashAction.com and I have joined forces to fight for equal legal justice for consumers in need. (Besides operating those websites, he's a consumer affairs consultant to the U. S. Department of Defense). We want to hear your stories and complaints you have if false, damaging, inaccurate credit reporting has unfairly victimized you. If you have taken the appropriate steps under the Fair Credit Reporting Act and notified the CRA’s and the Creditors involved and your complaints are not resolved we want to hear from you. If inaccurate information has been deleted and magically returns to haunt you, we want to hear from you! ------------------------------------------------ Consumer Guardian Network, Inc. will be a non-profit corporation established for the purpose of helping consumers in need of information and/or legal representation by an experienced or knowledgeable consumer attorney. We are attempting to balance the scales of justice by providing funds to consumers in need and consumer attorneys that can not afford the mega expenses involved when corporate law firms who have deep pockets force many attorneys to either settle for less than they should or turn the case away based on the knowledge that their practice can not sustain the expenses involved in litigation. ------------------------------------------------ The Consumer Guardian Network will offer consumer news, alerts, informational sources, seminars, governmental and legislative updates and assistance in many areas. We will compile a database that can be used to prove any "pattern of abuse" by these corporations. Attorneys interested in using the database or interested in your case and our cause can continue to build the funds to keep our mission alive by agreeing to donate a percentage of any settlement or award in their case if successful. These funds would come from attorney fees and not the consumer’s pocket. We want to network those in need with those that can make a difference. What we ask of others that support our cause is to help us keep this dream alive, even if it is only by word of mouth to raise awareness that we exist. If you know someone who is a victim of inaccurate credit reporting please let them know of our organization. Whether it is monetary, time, your professional services or just recommending our organization to people in need, you will know exactly where your services or monetary donations were utilized and be kept informed of the progress of CGN and the people whose lives you made a difference in. We will be seeking professionals that will be willing to give telephone or in person consultations, write informative articles or simply forward information that could be useful to our organization. We will be seeking stories and referrals of people in need, making decisions on how we can best assist either monetarily or by using our resources to find the right person that can help them. We will offer T-shirts for sale on our site, to both raise money to keep our fund growing, and raise awareness that we exist. You could make a difference simply by wearing a T-shirt that someone in need may see. It is our hope that as we unite and have our voices heard a change in this industry would be inevitable. They will be forced to adhere to the consumer protection laws. Since they are making huge profits by selling OUR information, it must then be accurate information! Identity theft, false and defamatory information inaccurately reported or maintained, destroys our reputations and turns our lives into a living nightmare and has a costly effect on our economy as well. We need to raise awareness with both consumers and consumer attorneys and advocates and include experts and legal professionals in every state. We ask consumer advocates to remember us and refer both consumers and attorneys interested in assisting consumers, to CGN and help raise awareness. As our organization grows, we would like to set up committees of volunteers who can assist in fund raising, providing governmental and legislative updates, etc. and do whatever we can to help victims through utilizing all our resources. There is so much that can be accomplished simply by uniting and pooling resources which will afford consumers better access to equal justice. Again, thank you for the thousands of posts, phone calls and emails with your kind words and support, it means more to me than I have words to express. Consumer Guardian Network is being formed as a direct result of the outpouring of support you have shown, which means you made a difference without even knowing it! . Watch for our site soon, and feel free to email me with any comments or questions, anytime at empdata@javanet.com Sincerely, Denise Richardson, Greenfield, MA
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