Millions of Americans face financial setbacks at some point in their lives. Whether it’s a missed payment, an unexpected medical bill, or a temporary job loss, these mistakes can linger on credit reports for years, limiting access to housing, loans, and opportunities. I will ensure that negative financial events do not permanently block people from opportunities, while still holding people accountable for current behavior.

 

Under my presidency, I will pressure Congress to;

1. Amend the FCRA to create the Fresh Start Credit Act

• 3 year term limit on negative reporting this includes; late payments, delinquencies, defaults, bankruptcies, etc.  
• Immediate removal on next reporting cycle when accounts are brought current
• This will apply to all consumer credit accounts; credit cards, loans (auto/home/personal/student) 

It's time America’s financial system becomes fairer, more transparent, and more supportive of everyday people. One mistake shouldn’t cost Americans years of opportunity as they try to get back on their feet.

2. Explicit Reason Required

 

Every negative item on a credit report must include a clear, specific explanation of the reason;

• Missed or late payment (with date and account)

• Defaulted loan (amount and date)

• Collections or charge-off (original creditor and date)

• Bankruptcy (type and filing date)

• Source Identification (who reported the negative item)

• Consumer-Friendly Language (Reasons must be written in plain, understandable language; no codes or internal shorthand)

 

In a society where your financial worth is reduced to three numbers, one mistake should not define your financial future.