Since Equifax has dropped from the corporate media news, this past article says a lot
Without Fanfare, Equifax Makes Bankruptcy Change That Affects Hundreds of Thousands
by Paul Kiel Sept. 29, 8 a.m. EDT
For what appears to be decades, the credit rating agency Equifax has quietly layered three more years of tarnish on the credit histories of hundreds of thousands of people who had filed for bankruptcy under Chapter 13.
While its competitors, TransUnion and Experian, placed a flag on such histories for seven years, Equifax left it on the reports of Chapter 13 filers who failed to complete their bankruptcy plans for 10.
After ProPublica asked about the difference in its policy, the company said it now leaves the flag on for seven years, but refused to say when and why the change was made.
The consequences of Equifax’s harsher policy were likely life-changing for some unlucky people. As Experian warns consumers on its website, “having a bankruptcy in your credit history will seriously affect your ability to obtain credit for as long as it remains on your report. It can also affect your ability to qualify for things like an apartment, utilities, and even employment. Even car insurance rates may be affected.” Without knowing why, consumers could have been turned down for apartments because landlords checked their Equifax report rather than those from Experian or TransUnion.
Why Equifax’s policy was different is unclear and the company would not address it. But that such a discrepancy had gone unnoticed and unaddressed for so long underscores how lightly regulated the industry is.
https://www.propublica.org/article/equifax-makes-bankruptcy-change-that-affects-hundreds-of-thousands
Now that the republicans are trying to dismantle the CPFB, I believe it is time to continue calling them and put pressure on them not to
House and Senate Switchboard (for address and phone information). (202) 224-3121
= new reply since forum marked as read
No encryption what soever..
