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Reason for Keeping False Information on Credit Reports

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Reason for Keeping False Information on Credit Reports

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Reasons For Keeping False Information On Your Credit Report

 

Reason for Keeping False Information on Credit Reports

The general population is forced into an educational system that never teaches its students (Our Youth) the proper the information they need to thrive in this world. It is deliberate and mandated by the corrupt government in which are merely a set of private banks that have hi-jacked our entire Nation little after the 1933 California Gold rush i.e the creation of the Federal Reserve. In doing so we have this credit system which they have used to take advantage of American Citizens by steering them into loans they know they are not qualified for but so so in order to make them a debtor, forever paying interest as long as they live. Our system is rigged with agencies that deliberately keep false information on consumers credit reports to fully take advantage of them.

Here are 12 reasons Banks and Credit Bureaus keep false information on credit reports.

 

  1. The primary reason why Credit Bureaus and Data Furnishers have placed and kept false information on consumer credit reports is that furnishers (such as Defendant BOA, Chase, ETC) provide enormous financial rewards to  Experian and Trans Union.
  2. The importance of keeping false information on credit reports is that all the credit Bureaus and Data Furnishers understand that one of the most powerful methods they have to wrench payment from a consumer is by placing and keeping false accounts on the consumer’s credit reports.
  3. Take for example BOA  which has a policy and procedure to refuse to properly update credit reports of consumers, who do not owe the alleged debt.
  4. The reason is to keep false information on the credit report to force consumers to pay a debt that is not owed.
  5. Many Data Furnishers have promised through their subscriber agreements or contracts to accurately update accounts but they have willfully, maliciously, recklessly, wantonly, and/or negligently failed to follow this requirement as well as the requirements set forth under the FCRA and state law, which has resulted in the intended consequences of this information remaining on consumers credit reports.
  6.  Data Furnishers assumed a duty, through the subscriber agreement and other actions, to accurately report the balances and this duty was breached in a negligent, wanton, reckless, willful, intentional, and/or malicious manner.
  7. Banks and Creditors have a policy to “park” its accounts on credit reports.  This is a term in the industry for keeping a false account on the credit report so that the consumer will be forced to pay money in order to obtain a refinancing or to qualify for a loan or to increase the consumer’s credit score from the artificially lowered score which directly resulted from the Trans Union, Experian  and Data Furnishers intentional and malicious conduct.
  8. In parking or allowing the parking of an account, these Data Furnishers know they are violating their obligations and duties under federal and state law to accurately report the account.
  9. Data furnishers, Experian and Trans Union know that parking a false account will lead to false and defamatory information being published every time the consumers credit report is accessed (as happened to Plaintiff) and this is the malicious and intentional design behind the data furnishers actions with the goal to force the consumer to pay on an account Plaintiff does not owe.
  10. Data Furnishers, Experian and Trans Union maliciously, willfully, intentionally, recklessly, and/or negligently failed to review the information provided in the disputes and that was already in their files and to conduct a reasonable investigation on many consumers disputes, which led as a direct result and consequence to Data Furnishers, Experian and Trans Union either failing to delete information found to be inaccurate, failing to replace the inaccurate information with accurate information, and/or reinserting the information without following the dictates of the FCRA.
  11. At all relevant times, the Data furnishers & Experian and Trans Union failed to maintain and failed to follow reasonable procedures to assure maximum possible accuracy of many consumer credit reports, concerning the account in question, violating 15 U.S.C. § 1681e(b) and state laws.
  12. Data Furnishers fail to properly maintain and fail to follow reasonable procedures to assure maximum possible accuracy of consumer credit information and consumer credit reports, concerning the account in question, thus violating state law and the FCRA.  These violations occur before, during, and after the dispute process begins with the Data Furnishers &  Experian and Trans Union.

 

Before there was  John Kenneth Galbraith or Joe Stiglitz or Nouriel Roubini, or Simon Johnson or Niall Ferguson or Occupy Wall Street– there was one of the  Founding Fathers, Thomas Jefferson giving an advance warning of 2008   some  200 years ago. An awesome foreboding it was, too.

“I believe that banking institutions are more dangerous to our liberties than standing armies,”  Jefferson wrote. ” If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around(these banks) will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.”

“The issuing power of currency shall be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson 3rd President Of The United States

 

Arthur:  Andrew Nguyen

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