user33658 Posted July 17, 2003 Report Share Posted July 17, 2003 that require the credit bureaus communicate changes to one another.Anyone else heard of this? Link to comment Share on other sites More sharing options...
DocDon Posted July 17, 2003 Report Share Posted July 17, 2003 It was the Consumer Credit Reporting Reform Act of 1996 which has been amended into the FCRA. (as of January 7, 2002).§ 611. Procedure in case of disputed accuracy [15 U.S.C. § 1681i](5) Treatment of inaccurate or unverifiable information. D) Automated reinvestigation system. Any consumer reporting agency that compiles and maintains files on consumers on a nationwide basis shall implement an automated system through which furnishers of information to that consumer reporting agency may report the results of a reinvestigation that finds incomplete or inaccurate information in a consumer's file to other such consumer reporting agencies. Link to comment Share on other sites More sharing options...
user33658 Posted July 17, 2003 Author Report Share Posted July 17, 2003 send a copy of my recent investigation results from EQ to TU and EX and ask them to update their records accordingly? Link to comment Share on other sites More sharing options...
DocDon Posted July 18, 2003 Report Share Posted July 18, 2003 Call them and see if they're in compliance yet. I'm sure the CRAs screamed for "more time" to bring themselves into compliance. Probably more like "a lot" of time, so mailing them in may be our only option for now. Link to comment Share on other sites More sharing options...
C Whitney Posted July 19, 2003 Report Share Posted July 19, 2003 So Doc, does that mean if EQ and TU have deleted a TL but EX hasn't that I can send a copy of the deletion letter to EX and expect them to remove the TL also? Link to comment Share on other sites More sharing options...
DocDon Posted July 19, 2003 Report Share Posted July 19, 2003 So Doc, does that mean if EQ and TU have deleted a TL but EX hasn't that I can send a copy of the deletion letter to EX and expect them to remove the TL also?That what the new law says as written. Actually, it's supposed to be automatically. I'm going to try it with my last derog that's only showing on EX.The only problem I can see is that EX will say the info was verified by the OC and therefore, the information has to be added back onto TU and EQ. There should have been a "majority rule" placed into the statute that states if the information is reported one way in a majority of your reports, the remaining have to comply with that reporting. Worth a try though, we'll see what happens. Link to comment Share on other sites More sharing options...
Guest Posted July 19, 2003 Report Share Posted July 19, 2003 The only problem I can see is that EX will say the info was verified by the OC and therefore, the information has to be added back onto TU and EQ. There should have been a "majority rule" placed into the statute that states if the information is reported one way in a majority of your reports, the remaining have to comply with that reporting. Worth a try though, we'll see what happens.I thought about that paradox. I'm waiting to see what happens to other people. I'd hate to have to spend all that postage on CMRRR letters again.so keep us updated! Link to comment Share on other sites More sharing options...
DocDon Posted July 19, 2003 Report Share Posted July 19, 2003 I thought about that paradox. I'm waiting to see what happens to other people. I'd hate to have to spend all that postage on CMRRR letters again.so keep us updated!Will do. You'll know if it backfires - you'll hear the scream. Link to comment Share on other sites More sharing options...
onedrop Posted July 19, 2003 Report Share Posted July 19, 2003 I think the part where it says "may report" might be used in their favor. It doesnt say "shall report". Please tell me i'm wrong. Link to comment Share on other sites More sharing options...
DocDon Posted July 19, 2003 Report Share Posted July 19, 2003 I think the part where it says "may report" might be used in their favor. It doesnt say "shall report". Please tell me i'm wrong.What it says is the CRAs shall implement an automated system. The OC's may (can) use this mandatory system to report to other CRAs. There should be no reason why an OC would only want to update with one CRA. If anything, this new statute saves the OC time and money in that they only have to report info one time to one CRA, who in turn reports to all others, instead of sending out three mag tapes. Link to comment Share on other sites More sharing options...
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