Why did we Sue the Credit Bureaus for over $1 Billion

Our founder Dr. Michael C. “Grayson is currently suing Equifax in Eastern District Court of NY for fraudulent reporting in the amount of $250 million. This was the largest Pro Se litigation in history.  This precedence setting case is the first of its kind in history.  Dr. Grayson is alleging that the credit bureaus are no longer content to simply report the credit but instead they are actively falsifying credit reports.             https://www.prnewswire.com/news-releases/judge-rules-case-against-equifax-brought-by-dr-michael-c-grayson-and-credit–debt-management-institute—can-proceed-301647914.html     

There have been 7 judges on this case and Defendant Equifax has hired 3 law firms and seven attorneys on this case. Currently this case is up for summary judgment.  The judge has refused to decide this case for over 8 months.  Dr. Grayson is not using his legal team for this case as he wishes to prove that with God on your side and the truth it is impossible for you to lose even going up against a billion-dollar company and their billion-dollar law firms.  I am not blaming the judges; I am sure it is scary to be confronted with over 7,000 pages of evidence that prove that the companies that are supposed to protect our credit is actually the ones who are falsifying credit reports, after all, the banking system is dependent upon fair and accurate credit reporting.  Inaccurate credit reports directly impair the efficiency of the banking system, and unfair credit reporting methods undermine the public confidence which is essential to the continued functioning of the banking system.  That is why an elaborate mechanism has been developed for investigating and evaluating credit worthiness, credit standing, credit capacity, character, and general reputation of consumers.  Dr Grayson has proven that Consumer reporting agencies have failed to assume a vital role in assembling and evaluating consumer credit and other information on consumers.  Currently Dr. Grayson is trying to ensure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumer’s right to privacy.  Dr. Grayson is determined to force consumer reporting agencies to adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a manner which is fair and equitable to the consumer, with regard to the confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of law.

Dr. Grayson has also brought a RICO case against all three credit bureaus for fraud and racketeering in Tennessee federal court in the amount of $1 billion.  This case will again set a precedence that will hopefully free this country from the abuses of the credit bureaus.