TransUnion Credit Reporting Complaint

TransUnion Credit reporting department,

Incorrect information on credit report Account status California

- ( - ) first missed payment -/-/-. Target gets judgement -/-/-. 7 years credit reporting should end -/-/-. Trans Union says -. Does a creditor get - chances to report bad debt 7 years to the credit agencies? First with the first missed payment and second for a judgement for same debt., in my case 1 year later. Loophole : Creditor can report debt when first delinquent then wait till the last month of the 7 year period, obtain a judgement for same debt then get another 7 years of reporting for a total of 14 years of reporting to credit report agencies for - debt. FDCA needs to be amended to reflect that the 7 years clock starts the first month of default, or no payment on the debt and that any subsequent judgement obtained by the creditor does not start a second 7 years debt reporting but fall under the 7 years that started the first month of default or non payment of the debt. The law needs to reflect that a judgement is just a part of the debt collection process and does not make an already reported bad debt as a new separate debt. By changing the law, creditors will have to obtain a judgement in a timely manner and close the loophole that allows them to wait as a strategy to report the debt for longer then 7 years. It will also prevent the creditor from having - debt reporting clocks. The way the law is now creditor can report debt twice, the debt itself, and then the judgement giving -, 7 years debt reporting clocks as if they were - separate debts.