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Can Anyone Answer This Qyestion?


retmar
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Earlier this year, our Mortgage was reassigned. Our "Welcome" letter contained the whole complete verbiage plus used by CA's, including the mini, 30 day, and "This is - - ". When I called and asked as to why because this is not a delinquent debt, I was told their legal department said they have to. They refused to connect me so I could ask them myself. True, California does hold the OC liable in regards to the FDCPA, but, to me, since the FDCPA only pertains to delinquent debt, which means there is no reason this should be included with papers regarding a current debt. Also, when we took out our HELOC, the lender (different) did the same thing. All I could find out from them was that they have increased their number of pages in the packet because of previous lawsuits.

Can anyone share with us as to why this is being done?

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I think part of either the BK reform or FACTA the creditor must inform debtors that negative items are reported to CRA's. So some creditors have gone to the mini-miranda and a blanket statement that failure to pay will result in negative info being reported to a CRA.

Lawyers argue over the definitions of the word "is".

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Thanks, Grim! Lets' try and keep this going and see if one of the lenders/brokers can assist us.

In regards to your post, in the state of California, before the new laws, a blanket did not protect the reporter as it is still required to notify in writing within 30 days before or after. A monthly statement with the notation did protect them Also, the two represent two different laws. One is for reporting while the other is for delinquent debt. Plus, as to my original question, I should have noted that there is no mention of FACTA or FCRA, only FDCPA. This is what bothers me.

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