DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Credit Rating agencies should be abolished.

**yasalaioqe** · 10-27-2010, 03:04 AM

Why isn't it practical to sue them?

One would be the government. If the government has placed a lien against you, and it was a mistake, you have no recourse other than to get them to remove it, which never happens quickly.
Second, if it's a utility or bill that you're disputing and the amount is $200 (just an example), having to go to the expense of filing a lawsuit isn't practical for the average person, it's simply to expensive. If it's large enough of an issue, then yes, a lawsuit might happen. Also, most people find these inaccuracies when they're applying for credit. The time needed to fix the issue usually negates the lending process, while you waste a lot of time trying to straighten out the mess.
Personally, I only think debt contractual instruments should show up, ie loans, credit cards ect.. not disputed bills, likewise, they should just take you to court. However, if they win a judgment, then maybe that should go on your credit.

10-27-2010, 03:04 AM	#12
yasalaioqe Join Date Oct 2005 Posts 450 Senior Member	Why isn't it practical to sue them? One would be the government. If the government has placed a lien against you, and it was a mistake, you have no recourse other than to get them to remove it, which never happens quickly. Second, if it's a utility or bill that you're disputing and the amount is $200 (just an example), having to go to the expense of filing a lawsuit isn't practical for the average person, it's simply to expensive. If it's large enough of an issue, then yes, a lawsuit might happen. Also, most people find these inaccuracies when they're applying for credit. The time needed to fix the issue usually negates the lending process, while you waste a lot of time trying to straighten out the mess. Personally, I only think debt contractual instruments should show up, ie loans, credit cards ect.. not disputed bills, likewise, they should just take you to court. However, if they win a judgment, then maybe that should go on your credit.
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