There is a disturbing development in violations of the Fair Credit Reporting Act (FCRA) that has been taking place with "debt scavenger" companies who purchase old debts.  These third parties buy old bad debts in bulk for pennies on the dollar and then contact you trying to collect. Often these debts are several years old and the original credit has viewed this account as "uncollectable" and sold it to them for next to nothing.

These "bottom feeders" have some of the most aggressive collectors and they are also hoping that your financial situation has improved and you just want to get this rid yourself of the debt.  

Now I understand that these are businesses, so to speak, and they are out to make money.   BUT ... this is where is becomes illegal.   Many of these companies are going public and want their companies to appear to be more profitable than they really are.

How this affects the consumer.

They want their companies to show as much worth as possible.  BUT they are reporting old debts to the credit bureaus with and illegally renewing the "date of last activity" and making it look as if there has been recent activity on the accounts, when in fact nothing has happened for years.   This means that the derogatory item can stay on for another seven years if the trade line is not disputed.   It will also significantly drop the credit score and could possibly prevent you from getting a loan approval and hike up interest rates up on your existing and future credit cards.

If you have been a victim or someone you know has its important that measures are taken to correct your credit report from these illegal activities. HTDI Financial is willing to help you make a stand for yourself and control of the situation.

In the past a person may have made mistakes or gone a financial hardship but it does not give these companies the right to violate your rights.