Subject: File No. DF Title IX - Credit Rating Agencies
From: Stephanie L Rovig
Affiliation: Student, B.S. Accounting

August 24, 2010

I believe there should be more regulations for the three major credit reporting agencies, and that this should be included in this section. My story: I defaulted on a credit card through Capital One Bank. It was reported on my credit report. In January of 2010, there was a pending lawsuit against me. By February 2010, we were able to come to an agreement and I paid the balance according to the settlement terms. It is now the end of August, 2010, and my credit reports are all showing that I have a judgement against me. I have tried to fight it, and even sent in a copy of the dismissal form from the court. However, the credit reporting agencies still state that they checked with Capital One bank, and the judgement will stay on my credit report for up to 10 years. This is unfair, and they refuse to remove it. Part of the reason I am so upset is because companies will slap negative information on a credit report even before action has been taken. It seems almost impossible to get this information corrected. There should be laws against this. Companies should have to update credit reports to reflect positive information just as quickly as they do negative information.
The judgement against me wasn't even granted, only filed. Yet it still shows up on my credit report that it was granted. The credit card that is linked to this action...shows settled and paid. This does not provide me with equal opportunity or fair rights.