Why do BS companies who buy & sell debt -  whether it is legitimate or not - have to power to place things on peoples credit reports? It is ridiculous!

Several years ago I signed up for a book club, that was supposed to mail me 3 books every 3 months for a fee . I never received a single book, I called to complain, and cancelled the membership. I obviously never received, or paid a bill for a service not rendered.

Today, I received a Collection Letter from some 3'rd party collection agency! So, I call them, and they seriously expected me to pay for books I never got! Best of all - this is now on my credit report!

I stated that this was not a legitimate debt, and demand to have this removed from my credit report. Now I am going to have to go the big ordeal of disputing it, etc...

It is only $72, but still, this is total BS!

A couple of years ago, a loan I had completely paid off 4 years prior, somehow was "purchased as a bad debt" from one of these companies, and a $600 collection appeared on my credit report! Whether a debt is real or not, these scandalous companies aggressively attempt to collect. Even though the original creditor admitted the loan was paid off, they could do nothing to have the collection agencies account removed from my credit file after it was erroneously "sold". I wound up just waiting for it it to fall off, because it was so infuriating and impossible to get the situation legitimately rectified!

There are some serious problems with the way credit is reported and arbitrarily granted based on information that is so often wrong!