hiblues Posted April 14, 2007 Report Share Posted April 14, 2007 I was just reading a post from Methuss...I have a little untested theory that CAs that say they are "required to report" may be violating the FDCPA by using a deceptive means to collect. I wanted to discuss this a little more....get your thoughts...The fact is: The FCRA states that Furnishers of information (in this case the CA)are NOT required to report negative information.perFCRA 623 (7)(e)http://www.creditinfocenter.com/legal/FCRA.shtml#623 then scoll down to (7) (e)So any statement from them that they are required to report negative informationis 100% false and it may be a violation.... no?Now,I've talked to a CA from another forum and he claimed that theCA signs a contract with the CRA which MAKES them report.(I don't know if this is true,considering the source - hehe)buteven if it is trueit seems to me that contract would be a violation of said FCRA law?No contract can make a person break the law, which this contract would do.What are your takes on this? Link to comment Share on other sites More sharing options...
willingtocope Posted April 14, 2007 Report Share Posted April 14, 2007 No, the FCRA does NOT say they don't have to report negative information. It says if they do report it must be accurate. Not the same thing.Having a contract with a CRA which says the WILL report doesn't contradict anything. Link to comment Share on other sites More sharing options...
elyse449 Posted April 14, 2007 Report Share Posted April 14, 2007 I would think that nobody is "required" to do business with the CRA's. If that were the case, everyone would report. So, if they're signing contracts there may be something that needs to change there. If the account is at a -0- balance and is thus "closed" why would they be required to report further, contract or not? Besides, it's my understanding that the furnishers "choose" to report their information...Elyse Link to comment Share on other sites More sharing options...
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