A collection agency is named ____ & ____ Credit Bureau, Inc. I found the following in the Texas code, but I am not exactly sure what it means. Does it prohibit a collection agency from using the term "credit bureau" in it's name??? § 392.305. Deceptive Use of Credit Bureau Name A person may not use "credit bureau," "retail merchants," or "retail merchants association" in the person's business or trade name unless: (1) the person is engaged in gathering, recording, and disseminating information, both favorable and unfavorable, relating to the creditworthiness, financial responsibility, and paying habits of, and similar information regarding, persons being considered for credit extension so that a prospective creditor can make a sound decision in the extension of credit; or (2) the person is a nonprofit retail trade association that: (A) consists of individual members; (B) qualifies as a bona fide business league as defined by the United States Internal Revenue Service; and (C) does not engage in the business of debt collection or credit reporting.
Check the state comptroollers site to see if they are bonded or licenced by that name, if they are then taki it all to the ag.
No need to. FDCPA already states a CA cannot disguise itself as a credit bureau. I'm not sure what section though.
Some rural areas have credit bureaus that gather information for local merchants, both good and bad, and forward it to the three major credito bureaus for reporting. These companies often perform collection services for the same merchants they report for. If this is your situation, they have not violated any laws with the name of their business. JASON@LEGISLATOR.COM
I know they are trying to collect from me, but I am not sure if they do anything else. I will try to check on that. Maybe if I call the BBB or the comptrollers office I can find out. I will post tomorrow if I find out anything.
This outfit wouldn't happen to be based out of Austin?? I have had a collection record on my reports from "-- %-- Credit Bureau" since 1996. After I sent validation letter to them, they sent me a collection notice on letterhead with "CREDIT BUREAU" in very large font. Personally, I think this is deceptive and as far as I know, their primary business is collections. It is good to know state law, thanks for the post.
Sent a validation to them... they say "we validated this account in 1999"-- BULLSxxT! Sent second validation letter-aggressive, they deleted and then reposted 3 days later on Experian, giving it a new "open date", thus re-aging the tradeline (still not showing on either of the other reports). Still waiting on response to 2nd letter. No doubt about it, they are a collection agency NOT a credit bureau.
Would "Credit Bureau Service of xxx" Be a violation? I have a CA with this name and they are horrific!!!! They have sent full account printouts, as well as signed contracts. I have tried soooooo hard to nail them and can't come up with anything. They aren't actively collecting on the debt but its on hubbys CR.
Sorry this took so long - I think this opinion says pretty clearly that a collection agency cant have the name "Credit Bureau." - http://www.ftc.gov/os/statutes/fdcp...rs/isgrigg1.htm I guess if they were a combo CA/CRA they could get around the law. Tom
I think the real point is - do they actually FUNCTION as a credit reporting agency... FYI txstep- they are listed with the BBB as a CRA and not a collection agency.
I followed your links to the FTC opinion and checked the Texas code, and both seemed pretty clear that if you collected debts, you cannot use Credit Bureau in the company name. Since a CA called Credit Bureau xxxxxxxxxxx here in Texas has been quite a pain for me, I couldn't pass up an online complaint to the Texas AG office. I quoted the pertinent parts of the FTC opinion, and the Texas code. It should be interesting to see how the Texas AG responds.
