Found some interesting reading for you puter geeks. It's the Q&A for the Metro system at http://www.cdiaonline.org/metrofaq.cfm#1 Geeks, maybe you can glean some important info from here. Example: Question: The FCRA proscribes the maximum reporting time of derogatory items. There is no minimum reporting time. Is there any action being taken to standardize minimum reporting time of derogatory items? Answer: Because the reporting of accounts receivable information to the consumer reporting agencies is a voluntary activity, there is no minimum reporting time required for derogatory items. There is no action being taken to create legislation that would mandate such a reporting period. Question: What is CDIA doing about credit card companies who no longer report a credit limit or balance information? Concern is about D/I ratios with application processing system when data is not there, also score card issues. Answer: CDIA has a long history of working with its members and credit grantors to promote complete and accurate reporting of consumer data. (My Note: BUWAHAHAHAHA) "CDIA was the catalyst for industry acceptance of the first common language in credit reports in 1967 and has continued to promote full file reporting of complete and accurate consumer credit histories by companies in all credit granting segments," CDIA president Barry Connelly said. "We do not comment on any specific initiatives when they are under consideration, but it is a rare time when CDIA is not working with members and credit grantors to assure that American consumers continue to reap the benefit from choices in credit related products, made possible by the availability of full file consumer credit data through the nationâ??s credit reporting system."
Butch, although I am not really a computer geek, I found this url interesting. I will review it over the next couple of days, so long as there is no baby. But I have one question for you. where do you find this stuff?
LOL Mostly just an accumulation of 100's of bookmarks from studying this stuff. CDIA tho is no secret. It's the association of credit reporting agencies who changed their name a while back to CDIA. There was a question about Ch13 BK's that made me go look again. We are anticipating a happy and healthy delivery for you and Mrs. Kbanger. Good Luck and let us know.
From the technical maual for Metro - 2. http://www.cdiaonline.org/secure/acbi.pdf Question: How are delinquecies calculated? Answer: Delinquencies should be calculated from the due date. For credit reporting purposes an account is not deemed to be delinquent until at least 30 days past the due date. Warning: This material is not for the faint of heart. lol
No Greg but it's important for us to know it. Another Quuestion: What happens when an account is "partially" reaffirmed in a bankruptcy? Answer: That portion of the account that has been reaffirmed in the bankruptcy should be segmented and reported under a new account number, thus creating two trade-lines for this account. There's a lot to learn on this site.
This looks to me like a list of rules and clarifications that were used to keep the customer (creditors) and the provider (consumer reporting agencies) up to date on the specs of data exchange. In my job, where I am a programmer (visual C++, Visual Basic, SQL), we would use something like this (although more detailed) to know how to write our program to accept the data coming in from a customer, how to process the data, how to spit it back out.
Question: What causes duplicate tradelines? Answer: ANY change in the Account Number, Identification Number, Portfolio Type and/or Date Opened may cause duplication if the Credit Reporting Agencies are not notified in advance. The is under the FCRA compliance section, implying that failure to pre-notify the CRA of the change creates a violation in reporting. Hmmm.
It will be interesting to watch. I came across the .pdf Metro 2 Format definition )above) a couple of months ago. I hesitated to publish it because it is from a (supposedly) secure area on their Web site-- and I wanted to search the rest of the site and not let them know I knew how to get into the (supposedly) secure area. Perhaps they would post more. Countermeasures. Counter-countermeasures. Counter-counter-countermeas... But the cat's out of the bag, now. Then, again, they left this up: http://www.openonline.com/pdf/tu_guide.pdf , as damning as it is.
Thank you once again, Butch, for your excellent research skills. I posted the link to the CDIA a few moons back when I first tried to explain why dismissed bk 13s were reported for the full 10 years. It is an agreement within the CDIA that gave discharged bk 13s the reprieve to 7 years...but it is NOT the law as the FCRA clearly states that a bk whether it be a 13 or a 7 can be reported for the full 10 years. This question comes up alot so I would be happy to pass the ball on to you...maybe you will be more successful in articulating this fact than I. clc
Hey!!! I have seen this question posted multiple times. I have not had the answer because I never had to deal with it. So for the benefit of all netters: Q: We have situations where we sell charged off loans to another company and report the accounts as Status 05, which is a final status. Sometimes we purchase the accounts back. How can we report the accounts and get the history back? A:Report Status Code 97 (Charge-off) with Special Comment AH (Purchased by Another Lender). Do not report Status Code 05. The result is the same. Then if you buy back the accounts, you can report Status Code 97 without the Special Comment AH. The special comment will be removed and the Charge-off and all account history can be retained. This is important for folks dealing with any Marlin Collection account. If the OC is still listing as O5, they are listing it wrong!!!!
Butch, Awesome links...Here is a jewel from the site: Confusion Hell..it violates the law....the CRA's take it as a NEW collection and it is scored as such! JohnM (Who knows first hand how much this hurts..120 drop from this BS)
