Last few days we had several discussions about the same thing, so let me try to summarize it. If I'm wrong, please do not hesitate to correct me. Statement 1: OC violates FCRA by reporting inaccurate information. ··· TRUE ··· [color=0066FF]§ 623 (a)(1)(A) Reporting information with actual knowledge of errors. A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or consciously avoids knowing that the information is inaccurate.[/color] Statement 2: OC violates FCRA by reporting already disputed information. ··· TRUE ··· [color=0066FF]§ 623 (a)(1)(B) Reporting information after notice and confirmation of errors. A person shall not furnish information relating to a consumer to any consumer reporting agency if (i) the person has been notified by the consumer, at the address specified by the person for such notices, that specific information is inaccurate; and (ii) the information is, in fact, inaccurate.[/color] Statement 3: OC violates FCRA by not reporting a notice of dispute after I disputed an account with the OC. ··· TRUE ··· [color=0066FF]§ 623 (a)(3) Duty to provide notice of dispute. If the completeness or accuracy of any information furnished by any person to any consumer reporting agency is disputed to such person by a consumer, the person may not furnish the information to any consumer reporting agency without notice that such information is disputed by the consumer.[/color] Statement 4: Based on statements 1, 2 and 3, I can sue the OC for violations of § 623 (a). ··· FALSE ··· [color=0066FF]§ 623 (d) Limitation on enforcement. Subsection (a) shall be enforced exclusively under section 621 [§ 1681s] by the Federal agencies and officials and the State officials identified in that section.[/color] What that means is you can file a complaint with FTC or other such agencies, so THEY can sue the OC on their behalf. Statement 5: OC violates FCRA and I can request from them to delete a TL, because they did not respond to my CRRR and/or did not provide any competent evidence that they reported accurate information. ··· FALSE ··· OC is not obligated by FCRA to respond to YOU or provide YOU with any evidence. Not in 5 days, not in 30 days, not ever (see the next statement). Statement 6A: OC violates FCRA because after I disputed an account with CRA and CRA noticed OC of the dispute, OC did not investigate and report it to CRA. ··· TRUE ··· [color=0066FF]§ 623 (b)(1) In general. After receiving notice pursuant to section 611(a)(2) [§ 1681i] of a dispute with regard to the completeness or accuracy of any information provided by a person to a consumer reporting agency, the person shall (A) conduct an investigation with respect to the disputed information; (C) report the results of the investigation to the consumer reporting agency; and (D) if the investigation finds that the information is incomplete or inaccurate, report those results to all other consumer reporting agencies to which the person furnished the information and that compile and maintain files on consumers on a nationwide basis.[/color] ... and ... [color=0066FF]§ 611 (a)(2) Prompt notice of dispute to furnisher of information. (A) In general. Before the expiration of the 5-business-day period beginning on the date on which a consumer reporting agency receives notice of a dispute from any consumer in accordance with paragraph (1), the agency shall provide notification of the dispute to any person who provided any item of information in dispute, at the address and in the manner established with the person. The notice shall include all relevant information regarding the dispute that the agency has received from the consumer.[/color] Statement 6B: OC violates FCRA because after I disputed an account with CRA and CRA noticed OC of the dispute, OC did not investigate and report it to CRA in 30 days. ··· TRUE ··· [color=0066FF]§ 623 (b)(2) Deadline. A person shall complete all investigations, reviews, and reports required under paragraph (1) regarding information provided by the person to a consumer reporting agency, before the expiration of the period under section 611(a)(1) [§ 1681i] within which the consumer reporting agency is required to complete actions required by that section regarding that information.[/color] Statement 7: When I see an inaccurate TL in my CR, I must dispute it with the OC. ··· FALSE ··· Actually, you can dispute it with the OC, but you will get nothing from them (see Statement 4). The right way is to dispute it with the CRA. (1) The inaccuracy might be in their system. In that case there is no need to contact the OC at all. (2) If not, CRA must contact the OC and verify the information with them. In that case OC is obligated by FCRA to give an answer in 30 days (see statements 6A and 6B). Note about the inquiries: if somebody pulls a hard inquiry with no PP, it's again better to dispute with the CRA first, because everybody involved is obligated to respond to the CRA investigation. Note about the CA: if CA reports inaccurate information, it becomes a "furnisher of information", therefore all said above applies to them too. Do not forget though that CA has other duties and obligations under FDCPA. Statement 8: Your turn ...
Statement 8: When I think the DF has reaged my account I can sue them, OR, if I think the CRA reaged my account I can sue them. ::: FALSE ::: Regardless of whom you believe reaged the account you should sue them BOTH. They will blame it on each other anyway. The ONLY way to get to the truth is to drag both their a$$es into court, AND/OR, get an affidavit from the "innocent" party in exchange for dismissing them from the suit. For example: Affidavit from the DF says: "We NEVER were contacted by the CRA regarding this dispute." While in court WAIT until they lie to the judge and say; "YES we contacted them", and then whip out the affidavit. (tee hee) -- next --
Statement 9: I have closed my account, now the bank violates the FCRA by pulling my CR. ··· TRUE ··· If you have paid the account in full and have never applied again for a credit with this bank. ··· FALSE ··· For as long as you have balance, i.e. you owe them money, they have a PP. [color=0066FF]§ 604. (a) In general. Subject to subsection (c), any consumer reporting agency may furnish a consumer report under the following circumstances and no other: (3) To a person which it has reason to believe (A) intends to use the information in connection with a credit transaction involving the consumer on whom the information is to be furnished and involving the extension of credit to, or review or collection of an account of, the consumer; [/color]
Statement 10: I have disputed an account as "not mine", the bank sent me the "Affidavit of Fraud Form" and if I sign it, I will accept the account is mine. ··· FALSE ··· The Affidavit of Fraud Form is not proof that an account IS or IS NOT yours. Only a document with YOUR signature on it is proof. Accept nothing less, and do not fall for their game of trying to shift the burden of proof from them to you with the Affidavit. >> Thanks to Flyingifr Statement 11: Your turn ...
