Creditor's Responsibilities re

Discussion in 'Credit Talk' started by Trisha, Dec 3, 2000.

  1. Trisha

    Trisha Guest

    Can anyone that has read the FCRA give me their interpretation of how long they think a collection agency/creditor has to respond to a dispute?

    I thought CRAs and creditors have 30 days to respond to disputes. I contacted all 3 CRAs and one of my creditors/collection agency directly and no one reponded to me after 45 days. The creditor did put a notice on one of my reports that I was disputing.

    I finally sent a letter to the top dog at the collection agency and 75 days after my initial dispute I got a response from their Assistant General Counsel. She told me that the 30 day deadline does not refer to them as credit furnishers, only the CRAs and that they followed the law by posting "Dispute Resolution Pending" on my report. They basically sent me a copy of a statement as verification that says you owe us $xxx.

    When I read the FCRA, I interpreted it to say that credit furnishers also have to respond to disputes within the 30 day period. Can someone please tell me if I'm wrong?

    Sorry for the long post! Thanks.
     
  2. Momof3

    Momof3 Well-Known Member

    RE: Creditor's Responsibilitie

    Well I have always read it as the CRA contacts the creditor which has the account you are disputing and if they don't respond within 30 days, the item has to be removed???


    mom
     
  3. marvin

    marvin Well-Known Member

    technically it's 30 days

    It must be verified within 30 days, or it must be removed. This is really just a technicality, since it can be reinserted as soon as the collection agency verifies it, regardless of how long it took to verify
     
  4. frank

    frank Guest

    RE: Creditor's Responsibilitie

    Can anyone answer tell me the answer to this question? If a parent loaned his/her credit card to their child and the child used the credit card and then the parent died, whose responsibility is it to pay the debt?
     
  5. GEORGE

    GEORGE Well-Known Member

    RE: Creditor's Responsibilitie

    If the child wants to pay the unsecured credit card bill...do it, BUT if the child does not pay the bill the credit card will put a lean on the estate!

    MY OPINION PAY IT IN FULL, AND NOTIFY THE CREDIT CARD COMPANY OF THE DEATH AND YOU REQUEST THE ACCOUNT BE CLOSED AFTER PAYMENT IN FULL.
     
  6. Trisha

    Trisha Guest

    RE: technically it's 30 days

    That makes sense, but what documents are acceptable as proof of verification. I asked for the account and the balance to be verified and all I received was a statement that says you owe us $xxx.
     

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