Jump to content

Reporting after Nonvalidation


strabismo
 Share

Recommended Posts

Yep. But if the debt is not yours or it is out of statute, you can start to be a big pain in their butt. If it is or could be yours and is still in statute tread lightly. Also make sure to dispute with the bureaus...they may not bother to verify and it gets deleted!

Link to comment
Share on other sites

Strabismo,

check the FCRA 611 (5) (A) It states clearly that the CBR HAS to delete any unvalidated accounts.

http://www.ftc.gov/os/statutes/fcra.htm#611

(5) Treatment of inaccurate or unverifiable information.

(A) In general. If, after any reinvestigation under paragraph (1) of any information disputed by a consumer, an item of the information is found to be inaccurate or incomplete or cannot be verified, the consumer reporting agency shall promptly delete that item of information from the consumer's file or modify that item of information, as appropriate, based on the results of the reinvestigation

Link to comment
Share on other sites

611 is a requirement to the CRA. The CA is covered under 623. 623 (a) has no right of action. You would have to go with 623 (B), which only says "if the investigation finds that the information is incomplete or inaccurate" and says nothing about unvalidated. It is a harder case to prove, IMO.

Link to comment
Share on other sites

Now I am confused. In the FCRA, what is the difference in terminology between the CA and CBR? It seems to me that both of them are required to follow the same set of rules.

611 and 623 seem to work hand in hand as the second one reffers to the first one more than once.

They could have writen the act a little bit more people friendly! :?

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.