They didn't mention a collection agency, nor is one likely involved with this case yet. Collection agencies enter the picture usually long after an incident and much neglect by various parties.
Collection agencies are not evil. If you've ever been a landlord or had someone fail to pay a debt, a collection agency may be a godsend b/c they buy your debt (you get something at least; they get the paper debt, valid or not). Is that not a valid capitalistic risk-taking venture?
The credit bureau can't be charged with fraud: their data is from legitimate businesses (creditors); any fraud would apply to the creditor.
This system has and still works well. Most everyone reading this has made good use of our current credit system. We all understand how it works but are impatient with the slowness of the system. But it is a mistake to confuse slowness with malintent.
Collection agencies are not evil. If you've ever been a landlord or had someone fail to pay a debt, a collection agency may be a godsend b/c they buy your debt (you get something at least; they get the paper debt, valid or not). Is that not a valid capitalistic risk-taking venture?
The credit bureau can't be charged with fraud: their data is from legitimate businesses (creditors); any fraud would apply to the creditor.
This system has and still works well. Most everyone reading this has made good use of our current credit system. We all understand how it works but are impatient with the slowness of the system. But it is a mistake to confuse slowness with malintent.