Are credit report records verified or validated?
A credit report is no more than an allegation. If challenged the CRAs contact the creditor to simply verify the accuracy of the disputed information (proof is not requested). In effect, the credit bureaus have placed themselves in the position of both judge and jury. How is a system like this allowed to operate in our democracy? Simply, the focus is on profit. Foremost, creditors accept credit reports as the gospel truth. Furthermore, credit repair has become synonymous with fraud although it has been proven many times that errors are more common than CRAs like to admit. What can be done? By law, it requires more than just a form letter to validate debt and prove it was reported accurately. Consumers can choose to obtain legal representation to defend their rights. Truly, an attorney increases the intensity of the challenge and it becomes more difficult and costly to prove the validity than to simply remove the disputed information.
