Do they investigate and require original documents from the creditors in order to make sure the debt is real and there is no misinformation? Are the credit agencies legally liable if they post false and damaging information on someone's credit?
What documents do any of the 3 credit agencies require in order to post a debt on someone's credit history?
All the information the credit bureaus receive is done so electronically. Of course, institutions may make mistakes sometimes in their reporting that's why you should dispute it once it's discovered. The bureau will investigate it for you once they've been notified and come to an answer for you and fix if necessary.
I don't think they'll be liable because they have no way of knowing information is false and damaging. The credit bureaus deal with thousands of banks. I doubt they have time to collude against you with another bank.
Reply:there is nothing u can do but dispute the charge.u cant hold anyone responsible
Reply:You must be a MEMBER of one of the credit agencies in order to post a debt on someones credit history. The annual fee is pretty hefty for you to join.
I don't know what they require for a business to join, but they don't require them to send in any documents to "prove" you owe the bill. They just report you for not paying
If you can afford a good enough attorney, you might win a lawsuit against a credit reporting agency. The agency ALWAYS begins any report they send out with a disclaimer that "We only report the information submitted by our members and are not liable for incorrect information."
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