So I'm disputing a flaw on my credit report (or an item found in the "negative information" section), where Southwest Gas Co., a utility company that supplies a majority of Tempe, Arizona residents with natural gas, forwarded my $200 outstanding gas bill to collections following my moving out of a house (with 4 other good friends) my senior year of college at Arizona State University.
The $200 worth of gas was consumed by the collective household that April - May or so, 2006. The account was obviously in my name. Now, I've always been fairly fiscally aware and responsible; not many 23 year old's who aren't are handed hundreds of thousands in VC cash. So, I highly doubt, when checking off the "move out" checklist items, I forgot to pay the remaining balance on my gas account, and close it out. But apparently I did, finding out when I saw my credit report for the first time in 200......8.
I never received a phone call, email, letter, smoke signal, messenger on horseback, telegram, fucking aerial fly-by notifying me that I was delinquent on the account. It literally went to collections following our summer 2006 move-out, sat there, accruing "late fees" (which is really a creative way of the company's owner covering the costs + ROI associated with that obese woman with a headset and an associate's degree who answers the phone, recites her script, and takes your debit card number), until I learned about it, via my credit report, over 2 years later. So, I called BYL (which I think stands for "Bitch You Lose") and paid the outstanding amount, in full.
So, it's now 2012. This blemish continues to ride my report, it's only purpose to warn any potential creditors of my "borrowing trends, patterns, and behavior", for 7 years, from 2006, or until 2013. Now, there are two ways to look at this concept.
1. Credit reporting agencies, Gov't., whoever sets these guidelines, has somehow concluded that debtors, regardless of mistake type or reason, should be penalized for "negative information" by requiring its reporting for 7 years from date of whatever. Now, in my case, my gross annual income increased X7 between the summer of 2006, or college graduation, and now, 2012. In other words, it appears as though I am in a far healthier financial situation now than 5.5 years ago, yet I will continue to suffer an issue of miscommunication in the form of higher interest rate, etc. for another 1.5 years, justified by the assumption that... what... I am just as likely to skimp on a $200 gas bill today, at X7 the gross ann vs. then, in college, making dick (only looking at it in terms of income here). Seriously?
And why the fuck do I have to pay for access to MY borrowing history? It's MINE. MY INFORMATION. Why do I only get to see a certain number of times per year? It's MINE! I created it! I'll come pick up your creation containing your information, your child containing your DNA, and charge you $14.95, OH... WAIT... only once per year, to see him / her. 7 years? Really? In my case, IMMACULATE debtor performance since, and I can't get a look for removal of something occurring 5.5 years ago after 0 blurps since?
GET FUCKED.
I'll tell you what's going on. It's real simple. A piece of "negative information" on your credit report really does 1 thing; grants your next creditor to either 1.) deny you a loan, or 2.) justify jacking the interest rate on the loan. You don't think they appreciate rationalizing an extra 0.375% on my $28,000 auto loan or $140,000 mortgage, despite a fucking 15% DTI, because of an unpaid $200 gas bill, 5.5. years ago?! FUCK NO! THANK YOU TRANSUNION, EQUIFAX AND (whoever the third is, can't remember)!!! THANK YOU GOV'T. FOR LEGISLATING THIS!! Now, notice how often banks pull that credit? Guess who gets taxed for that: YOU. Guess who gets paid: CREDIT REPORTING CO. And I'll bet, if you gave me forensic accounting privileges for a week with these bigger banks, rather large sums of money are funneling to the politicians responsible and the credit reporting agencies chosen to pull Client credit.
It doesn't make any sense to hold someone accountable for a mistake having occurred 7 years prior today, especially if the mistake, measured in terms of accounting / aging AP, is a minute fraction of value relative to the present AR, or one's earning potential. It's literally the same thing as your next employer reducing your base gross annual pay by 5% because you made a B in economics 5.5 years ago in college, and he's doubting your supply - demand basics. Seriously. It's LSAT parallel reasoning 101.
I'm not a conspiracy - theorist. I'm the motherfucking truth. Pull the zombie eyes out of your skull and think about this.
(I got heated and forgot the 2nd way to look at it... I'll report back later...)
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