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A.L.A. - 7

Abundant Life Amendment™ Article – 7

Credit and Insurance Reform Act

PART - 1 Starting on the First Day of the First Year following acceptance of this proposal as an Amendment to the Constitution, the language of this Amendment will become Law.

PART – 2 The langue of this Amendment will be binding upon any Credit Bureau reporting agency and anyone reporting any information to any Credit Bureau reporting agency and/or receiving information from any Credit reporting agency. 

PART – 3 The Right of the people to a Free Annual Consumer Credit Report will include within those Rights, a report showing the person’s Credit Score for each month over the past Twelve (12) months prior to the issuing of the report. 

All Reports will come directly from the Credit reporting agency within Ten (10) Days of an annual request of information; also the latest Three (3) Months Credit Score must be sent by the agency upon any inquiring by an authorized member of the reporting agency within Ten (10) Days of an inquiring showing who made the inquiring and the reason they made for it. 

Without a Court order, no one will have access to any information in any report compiled under the language of this Amendment that is not a registered member of the reporting agency who has shown the reason for the  need of the report requested; this will include request by law enforcement, spousal request and/or a care taker’s request that is not documented as being authorized. 

PART – 4 The right to use a persons Credit information or score for anything other than the granting of Credit is prohibited; accept as may be allowed in this Amendment and it’s Application Guidance Section; and no rights secured by this Amendment can be waved or altered; and no fees can be charged to the person the report pertains to by anyone seeking lawful use of credit information, or by the credit reporting agency.

PART – 5 No credit reporting agency will store any information pertaining to any US Citizen in any non-US storage facility of any kind; nor, transmit any information outside of the United States without written permission of the person(s) the information relates to. Note: Physical written permission is required and not computer transmitted or verbal (phone) permission, for all non U.S. transmissions. 

A fine of five hundred dollars ($500.00) per unlawful transmissions, or a fine of up to ten million dollars ($10,000,000.) for multiple transmissions which ever is higher will be enforced. Also; anyone obtaining a persons personal information lawfully or illegally and transmitting it outside of the United States without written permission will be subject to the same fines; and if illegally gained, will also be subject to not less then eight years (8) in prison.

Financial Institutions of any type, foreign or domestic, that have here-to-for transferred personal information outside of the United States will bring all information into compliance of this Amendment within three (3) years of the acceptance (where within their powers) of this Amendment or face the penalties of this PART and will be barred for seven (7) years from having access to any personal U.S. financial information. 

If a legitimate foreign need of the information is required, the foreign inquirer can contact a U.S. authorized provider of the information, with the information being reviewed in the United States and not removed from the U.S.; and they (the foreign requester) can make their decision based on that review. 

NOTE: With the advent of the computer age, just about anything someone wants to know about you can be found on the internet. Personal financial information has-to-be protected in every way possible so as not to be allowing it to be exported via the internet, or any other means and must be given top security priority by all having access to it. If a verifiable, legitimate foreign need of the information is required, the foreign inquirer can contact a U.S. authorized provider of the information, with the information being reviewed in the United States and not removed from the U.S.; and then the foreign requester can make their decision based on their review. I know that their will be those that will say – this may slowdown commerce in international trade – but, the need for security far outweighs the need for speed. 

PART – 6 The United States Government and the State’s Governments will have the right to access personal financial information of anyone seeking employment involving security, security clearances and/or other areas where a picture of a persons overall life’s activities may be a factor. Note: this is not to insinuate a person with a lower credit score, or other financial problems would be less that a very honorable person; and this should not be the strongest of determining factors; also, this is not a blank check to check anyone for any other reasons without a Court’s order.

PART – 7 The language of this Article shall be deemed superior to any powers and laws of the federal government; laws or rights of the states, or parts of the Constitution where it may be in conflict.

PART - 8 The Congress shall have power to enforce by appropriate legislation the provisions of this Article.

PART - 9 The Title of this Amendment will be known as: Abundant Life Amendment - Article Seven.

PART – 10 The languages of this Article and Application Guidance Section can only be amended by a majority vote of the People via a Public Referendum.

Application Guidance Section

SECTION – 1 Any account that has been paid off and closed for One (1) Year and did not show any negative activity during the last year of being active, will be removed from all Credit Reporting. If it had shown negative activity during that last year of being active it may remain on Reports for up to three (3) years.

SECTION – 2 Any inquiries into to a persons credit information that does not result in the granting of credit will be removed from the account after sixty (60) days from its listing.

SECTION – 3 Bankruptcies will be removed from all credit reporting activity subject to the following: If after four (4) years of its filing and reporting on a Credit Agencies Report and no negative reporting was filed on that report by anyone during that four (4) years, it will be removed from all records keeping of the Credit Agencies reports. If negative reports were filed and not corrected because of error, Bankruptcies may remain on the reports for up to six (6) years. 

SECTION – 4 No Credit Report will be allowed without the written approval of the Person whose Credit Report is being requested, except where other language of this Amendment has allowed; and no list of credit worthiness of persons listed by any credit reporting agency will be sold or used by them for any commercial activities.

SECTION – 5 Credit that has been granted at a certain percentage of interest will not be effect by any new agreement(s) unless the new agreement(s) offer a less percentage of interest and/or a less total cost of the final payoff of the amount being adjusted by the new agreement(s). 

Example – if you had a car loan at 4% interest and wanted to trade it in for a different car and still owed $4,000 on the trade in car and were borrowing from the same loan company – and you needed another $8,000 to buy the new car but the interest rate for the new loan was 6% – for a total new debt of $12,000 – only the new amount borrowed of $8,000 would be billed related to the 6% interest and the old amount of $4,000 would remain at the 4% rate; any single payments made on the loan would be applied 50/50 to both balances until the lower balance is paid off where upon, the full amount would be applied to the balance owed. 

Any cohesion with an affiliate (or any other by recommendation) to circumvent the language of this SECTION by directing the total value of the new loan to another, so as the new total would be at the higher interest rate, will be subject to a fine of ten (10) times the full value of the loan, a complete payoff of the loan(s) and one (1) year in prison for those involved. 

SECTION – 6 Credit rates can not be raised on any account based on anything other the payment history of that account.  

Example: if your Credit Score or rating was lowered by a late/or missed payment of an account – and your other accounts were not effected by the late/or missed payment – the other accounts can not use that lower Credit Score information to adjust anything within their own accounts. 

Credit reporting agencies must reveal in their reports and to the affected party, the reason that a negative change was made in their report with a lower Credit score within Ten (10) Days of its lowering; failure to issue the report timely will result in a fine of five hundred ($500.) dollars for each failure. 

Anyone that knowingly and/or willingly exposes another person’s credit information for the sake of personal gain or embarrassment will be fined fifty thousand ($50,000.) dollars and five (5) years in prison. 

NOTE: Sometimes a dispute will arise with a credit granter and a late payment, or missed payment, may be the result of the dispute allowing the credit granter to file a poor credit rating; which other credit vultures will eventually feast upon.

Right now (today) Millions of hard working and honest Americans are having their financial bones picked clean by the buzzards from the Insurance Companies and others who have taken advantage of their loss of good paying jobs and reduced incomes; and by Politicians who are more than willing to make sure the buzzards have plenty to eat, as they too feast on the droppings the buzzards leave for them in their political coffers.

A person’s Credit Score is the MOST IMPORTAN financial information there is (PERIOD) – It determines how much you pay for just about everything you buy that you do not use cash for; and it determines how much you pay for things that have NOTHING TO DO WITH CREDIT: Car Insurance, Home Owner Insurance and your Employment and maybe in some cases even your Health Insurance.

Let me assure you, I am not against having a Righteous and Responsible way of verifying a persons financial background; but – even with the once a year free Credit Reports you are allowed to get - you do not get your Credit Score, unless you are willing to pay for it.

Why is it (?) that Citizens of the United States should have to pay to see their own personal information; yet that information is sold to someone else for them to profit from and sold without their permission? Answer – greed.

Statistically speaking, Insurance Companies will say, a person with a lower credit score is more likely to also be a bad driver and cost them more money; or a person with a lower credit score may be a careless home owner and might burn their house down; and for the employer, a person with a lower credit score might be someone that would steal from them because they are not able to handle their own financial affairs properly; or whatever.

Question; why does the Government allow the poorer and needier of the United States to be subjugated to the corruption of a credit reporting system that is filled with errors, has no over sight and is unrelenting in its’ greed?

Note: I don’t think most people realize that even applying for credit can lower your score and end up costing you more down the road? 

SECTION - 7 The Three main Credit Reporting Agencies, TransUnion, Equifax and Experian will be allowed, in a part, separated from any other financial recordings of their records keeping activities, record the following records of activities: 

1st – Records that relate to credit information: Loans, Credit Cards, or any other area where money is subject to a promise to repay because of an advancement to the benefit of the borrower from a licensed and registered lender; this set of records keeping will be the only records that will have a Credit Score attached or involved with it; also, all credit reporting agencies will must reveal the calculations it used as it relates to the finding of a credit score and must reveal what information was used in that finding, in any report sent to the person that the report is about. 

2nd - Any request for personal credit information must fully show the name of the person making the request (not just the company name) and the reason for the request; no use other than the reason stated may be used of the information or shared with any other for any other reason; including, in-house departments the information was not requested for and/or affiliates. 

Any reduction or pending reduction of a Credit Score will require notification to the person who’s Score was, or may be reduced, by the Credit Reporting Agency with in Ten (10) days of the pending reduction and the reason why. 

3rd  - Any negative filings by an authorized member that might relate in a reduction of a Credit Score, will not be immediately listed but treated as pending, until thirty (30) days after the date the notice was sent to the one effected by the filing, so as to allow time for correction, if the information is not correct, or disputed. 

4th - The same Credit Reporting Agencies (and any new ones should they become active) will have the rights to establish separate compliance records on behalf of and benefit of Landlords and others involved in the renting or leasing of residential or commercial properties. Anyone using these services must register with a validated Federal, State, or Local registration number showing that they are a registered Landlord. There will be no type of Score (Credit Score) as part of this record; and no part of this report will be given to, or revealed to, anyone outside of the lawfully registered requester, or by the registered requester to any other. 

5th - Areas where credit is granted in the form of use and then pay upon the amount used, such as, Electric or Gas bill, Water and or Sewer, Phone, etc., will again be divided into a separate records keeping and that information will only be available to those who are registered and have a need to know. In this  part and part (4) – only the past eighteen (18) months will show on any reports; also those listed in these parts may charge a security deposit for new services of up to, but not more than, fifty percent (50%) more of a normal security deposit if the records show late or missed payments. 

Any payment made and received within Ten (10) Days of due date will not be treated as late or negative; and any amounts where an arrangements of payments have been agreed upon before becoming late, will not be treated as negative on any report unless the one under obligation does not fulfill the agreement. 

SECTION – 8 Anyone not authorizes to review, or uses in a non authorized manner, any information in any report, will be subject to a ten thousand ($10,000.) dollars fine and three (3) years in jail if it is ruled to be an intentional act, to embarrass or cause harm to the person the report is about, or the report is made public in any manner by anyone having access to the report without the permission of the one the report is about.

SECTION - 9 No credit information will be used by anyone in the insurance industry as it relates to: Auto Insurance – which will be based on the value of the vehicle, the driving record of its drivers and responsible claims of the drivers within the past four (4) years; examples of non-allowable evaluations are: Zip Codes, miles driven daily and any other discriminating values. Homeowner or Renters Insurance – will be based upon the value of the property being insured and any history of repetitive claims being filed unrelated to occurrences of nature or criminal acts of others: Health Insurance – will have no access to personal financial information as it may relate to the cost of Health Insurance; any other areas of commerce that can not demonstrate by a true need of access to any of the subject matter of this Amendment will also be barred. 

Note: The Spirit of this Amendment relates to negative Credit Report filings and the protection of personal and what should be, private information and the greed related to the usage of that information.

Why should your landlord have and/or need your personal banking history reports and credit card information, just to rent you an apartment or house? This proposal allows for a history of you rent payments and that is all they should need.

Why should a car insurance company need anything other than your driving record and the value of you car to determine what your insurance should cost? What the Hell does a credit score have to do with driving a car?

Why does an employer have the right to your personal banking information and the right to decide your employability on it? Is one going to be a worse employee because their job went to China and their credit score went to hell with it?

The answers, greed, greed, greed, - allowed by your State and Federal Representatives.

 As previously pointed out, Millions of hard working Americans, through no fault of their own, have lost good paying jobs, or have taken reductions in pay and benefits – if they are even lucky to have a job – and you can be sure that if you are late on even one payment your Credit Score will go down allowing the greed of those in the system who control the credit markets to force you to pay more for anything you may have to buy on credit.

A Credit Score has no compassion to the human reasoning behind it. Example: maybe the factory where you worked closed and went overseas and now you do not make enough to keep all of the bills you use to pay on time and up to date – a Credit Score don’t care – maybe a flood or tornado wiped out your home and maybe your job with it - a Credit score don’t care – maybe you or a family member had a serious medical problem that left you with thousands of dollars in bills beyond your ability to keep up with – a Credit Score don’t care – I can only guess at the numbers, but I would be more than willing to guess that 98% of the People most effected by a negative Credit Score are in the middle to lower income people; and they are the ones who also have very little voice in government if any.

PS: There is a brighter day to come as it relates to credit – this Amendment is only the dawn of that day. 

If after reviewing this proposal you favor it - please petition your elected State and Federal Officials and let them know of your support of it and of your desire to have it become part of the Constitution.


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