Jason

OC Investigation request- question.

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I sent a OC investigation request to the company where I got my loan from.

I told them they were to notify me of late payments going on credit report.

The VP of the loan company said they did notify me on the late payment slip they send out.

Well I have those late payment slips they sent me.

None of the late payment slips said a word about anything going on my credit report.

Should I write back and show them copies of the late payment slips I have?

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Absolutely you are to demand that they not only send copies of any alleged late pays but update your credit report if there is an inaccuratecies. Be very firm with them in letter form and note they are to adhere to the fair credit reporting act set by the federal government. They should respond accordingly.

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I sent a OC investigation request to the company where I got my loan from.

I told them they were to notify me of late payments going on credit report.

The VP of the loan company said they did notify me on the late payment slip they send out.

Well I have those late payment slips they sent me.

None of the late payment slips said a word about anything going on my credit report.

Should I write back and show them copies of the late payment slips I have?

I'm confused (my normal state). They DO have to tell you you're late...they DON'T have to tell you that they told the CRAs you were late.
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I'm really not sure that letter correctly states the law. Last off, it reference the $1000 per violation falacy...its $1000 per action, and thats for the FDCPA...not the FCRA.

And, first off, I don't think "lates" qualify for the intent of the "negative action" provisions of the FCRA.

You may have an agrument with them about whether the lates are correct...and you may have a right to documentation from the OC under the FCRA...but...again, I don't think they have to tell you when they are reporting a late to the CRAs.

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We should tell Admin if this is true. Many of us probably have used the letter to send to the OC. Reguardless if we use it word for word or not. This seems very important to bring to their attention.

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I've seen other people ask this same question and I don't get it.

If you get a new credit card, does the CC company have to tell you that they are going to report the new CC to the CRAs? NO.

If you pay that CC on time, every month, do they have to tell you that they are reporting "paid/never late?" NO.

Then, if you pay that CC late, why would they have to tell you before they report it late? If you use credit, then anything that you do can be reported to the CRAs.

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Read the first paragraph http://www.creditinfocenter.com/form...letter17.shtml

“According to the FCRA, as amended by the FACTA act, you are required to notify me of the insertion of negative listings.”

We should tell Admin if this is true. Many of us probably have used the letter to send to the OC. Regardless if we use it word for word or not. This seems very important to bring to their attention.

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Yes, they are required to notify you, however, most companies put a generic statement on all credit card statements along the lines of "if you are late, we may report you to the credit bureaus" which is legal.

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I'm not about to disagree with our Admin, but, I do want to point out the actual wording of FCRA &623 (a) (7). when run through my gibberish to english translator says that if they tell you in their original terms and conditions that if you're late, they'll report it to the CRAs...or, if they slip in a "prominent" notice on your next billing after your late the first time...then they don't have to tell you they're going to report each time your late.

So...IMO, the bottom line is...they probably had the "thou shalt not be late, or we shall smite thee on thy credit report" admonition slipped into something you should have read.

On the other hand...the letter you reference probably does fit under the "nutcase" heading any may at least confuse them enough to respond favorably.

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That is good to watch for next time. I have all original documents in my specific situation and nothing states that. They are a small company.

The VP said in the reply to my OC investigation- they have it written on their late payment slips. I have those, and they do not state that at all. But you see, my situation is several years old. So maybe the OC does have it written on the late payment slips now. But not a few years back. I have them. I think this is just not a common situation. I will keep all of your advice in my memory for the future. I am glad I kept all the documents in a file, and never threw them out. Take care.

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“According to the FCRA, as amended by the FACTA act, you are required to notify me of the insertion of negative listings.”

Could he be refering to the re-insertion 5 day notice?

"but according to the FCRA, as amended by the FACTA act, you are required to notify me of the insertion of negative listings. "

Do you guys think this sentence should be left out of the Sample letter 17 - Request to Original Creditor to Request an Investigation About A Negative Listing?

http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=284776&goto=newpost

I trust CIC and this just seems to be a debate.

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The FCRA does say that they are required to notify you whenever someone enters negative info...its just that they give so many "yeah-buts" along with it, that its tough to know exactly when they told you.

The biggest problem with the sample letters on the site here is that you need to be absolutely sure that your circumstances exactly fit the context for which the letter was intended. And, you have to realize that even in the instances where the letter references a specific legal decesion, your local courts or district courts may have another opinion. So, the ultimate decider as to what goes where when is likely to be a judge somewher.

So...in the context in which it was intended (something more serious than "lates") the "notify me of negative info" letter is probably useful as it is. It just may not apply exactly to your situation.

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I'm confused (my normal state). They DO have to tell you you're late...they DON'T have to tell you that they told the CRAs you were late.

I would have to look it up in the FCRA, but it is in there.

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I've seen other people ask this same question and I don't get it.

If you get a new credit card, does the CC company have to tell you that they are going to report the new CC to the CRAs? NO.

If you pay that CC on time, every month, do they have to tell you that they are reporting "paid/never late?" NO.

Then, if you pay that CC late, why would they have to tell you before they report it late? If you use credit, then anything that you do can be reported to the CRAs.

This is only true because of the FCRA. In the FCRA it states that you are to notify if they are going to report derogatory information.

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The biggest problem with the sample letters on the site here is that you need to be absolutely sure that your circumstances exactly fit the context for which the letter was intended. And, you have to realize that even in the instances where the letter references a specific legal decesion, your local courts or district courts may have another opinion. So, the ultimate decider as to what goes where when is likely to be a judge somewher.

This is why it is important to be familiar with case law and opinion letters if you are going to sue someone, some homework must be done first. Check the thread title "question" I have some fans on there, jk, but I bring this up there.

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