Can someone point me to the legal jargon that says you cannot reinsert after the 7 years is up ? I would also like to know what the damages are if you take them to court because of what they have done. Where does it state what you can sue them for. thanks
Sec. 605 discusses the reporting period. 616 and 617 discuss willful and negligent noncompliance. http://www.ftc.gov/os/statutes/fcra.htm
Forgot Sec 623, which contains the obligations of the furnishers of the information to the CRA. (a)(4)-(5) provides the requirements for the furnisher to report the exact date that the account was closed, or went delinquient for the last time before c/o. 623(a) violations aren't actionable against the furnisher, however when you dispute the information through the cra, and they verify the inaccurate information, then it becomes a 623(b) violation.
