Restructure and update Credit Bureaus & Credit applications & bankruptcy.

Restructure and update Credit Bureaus & Credit applications & bankruptcy.

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Mosha Katani started this petition to The Fair Credit Reporting Act and

The reason I am starting this petition is that the credit bureaus unfairly regulate people’s credit such that it is easy to lose points and extremely difficult to gain them back.

People experience severe hardship with loss of these points and lowered credit.

However, this only affects regular working people while the elitist can surpass this system simply because they have more money.

The length of bankruptcy should be changed to 3 years, as currently, it is incredibly too high, suffocating a person for 7 to 10 years after going through devastation where bankruptcy was necessary.

Questions about a person's sex or race should also be removed on all credit and loan applications whether voluntary or not. 

Bankruptcy information should not be included for necessities like home and car loans/purchases especially if bankruptcy was due to a school loan, failed business, pandemic or medical bills. 

I am asking the said agencies to restructure and update their point system so they do not shackle a person's ability to grow economic wealth because of a mistake.

Wealthy people are given many free passes but the average American is left slipping deeper into financial demise.

We need the reporting agencies to not keep history beyond 3 years and allow good credit habits to replace old mistakes. As it stands now, bankruptcy is on your credit for 7 to 10 years. 

Please sign this petition and tell the credit bureaus they need to work with us, not hinder us. We need The Fair Credit Reporting Act (FCRA) to offer additional protection for consumers and for businesses to curb their predatory operating systems which ruin lives.

0 have signed. Let’s get to 1,500!
At 1,500 signatures, this petition is more likely to get picked up by local news!