Search found 21 matches

by ChrisGreen
Thu Jan 14, 2016 7:09 am
Forum: FDCPA Statute And Amendments: 15 U.S.C. 1692, et. seq.
Topic: FDCPA and Other Laws Affecting Credit Reporting
Replies: 0
Views: 8099

FDCPA and Other Laws Affecting Credit Reporting

There are five laws that affect credit reporting in Washington State. Four of these laws are federal, and the Washington Legislature passed one. ➢ The most influential is the Federal Fair Credit Reporting Act 15 U.S.C. sections 1681 - 1681u (“FCRA”). The FCRA became effective in 1971 and underwent a...
by ChrisGreen
Sun Dec 20, 2015 2:04 pm
Forum: Duty to Notate Disputed Accounts As Such: 15 U.S.C. 1681c[f]
Topic: Duty of Furnisher To Note As Disputed
Replies: 0
Views: 6906

Duty of Furnisher To Note As Disputed

Multiple Disputes, Increasing Information Provided. If you send more than one dispute, you should send more information each time you dispute, perhaps providing more detail each time, attaching documents or even providing a declaration if the matter becomes a matter of he said/she said. You should n...
by ChrisGreen
Thu Aug 21, 2014 1:46 pm
Forum: Credit Errors
Topic: Types of Credit Reporting Errors
Replies: 0
Views: 1614

Types of Credit Reporting Errors

Types of Inaccuracies in Credit Files and Reports The following are among the types of inaccuracies that appear in credit files and the reports derived from them. • Inclusion of accounts or records in a credit file that do not belong to the consumer, commonly called a mixed file: Credit reports can ...
by ChrisGreen
Thu Aug 21, 2014 10:39 am
Forum: Credit Errors
Topic: Main causes of credit report inaccuracies - by CFPB
Replies: 0
Views: 1590

Main causes of credit report inaccuracies - by CFPB

According to the Consumer Financial Protection Bureau - these are the main causes of credit report inaccuracies: • Data and data entry errors: Furnishers can input accurate consumer information incorrectly or make typographical mistakes (e.g., transposing two digits in an SSN, misspelling names, tra...
by ChrisGreen
Wed Aug 06, 2014 12:25 pm
Forum: Credit Errors
Topic: Late Payment Reporting - 30 days late, 60 days
Replies: 1
Views: 2635

Re: Late Payment Reporting - 30 days late, 60 days

Great Article by John Ulzheimer regarding late payments for credit cards and credit reporting: In fact, the credit industry standards manual (The Credit Reporting Resource Guide) states, “The clock for a 30-day delinquency starts 30 days after the due date, as opposed to the billing date.” This give...
by ChrisGreen
Wed Aug 06, 2014 11:52 am
Forum: Credit Errors
Topic: Mailbox rule - Apply to dispute process, late payments etc?
Replies: 0
Views: 1791

Mailbox rule - Apply to dispute process, late payments etc?

A “strong presumption” of receipt applies when notice is sent by certified mail , because it creates actual evidence of delivery in the form of a receipt. Santana Gonzalez v. Att ‘y Gen ., 506 F.3d 274, 279 (3d Cir.2007) (emphasis added). A “weaker presumption” arises where delivery is sent via regu...
by ChrisGreen
Tue Jul 29, 2014 5:00 pm
Forum: What is a Consumer [Credit] Reporting Agency?
Topic: Insurance Claims Report
Replies: 0
Views: 1492

Insurance Claims Report

INSURANCE CLAIMS REPORTS: Insurance claim reports are not "consumer reports" unless used to deny claimant benefits and then fact that report was made, along with copy of it, must be disclosed to claimant. Kiblen v. Pickle, 653 P.2d 1338 (Wash. App. 1982). An insurance claims report, as opp...
by ChrisGreen
Tue Jul 29, 2014 3:20 pm
Forum: What is a Consumer [Credit] Report?
Topic: A CRA Sharing A Credit File With Counsel Is OK
Replies: 0
Views: 1941

A CRA Sharing A Credit File With Counsel Is OK

MOSTOFI v. EXPERIAN INFORMATION SOLUTIONS, INC., Dist. Court, D. Maryland 2014 http://scholar.google.com/scholar_case?case=5973202216786533442&hl=en&as_sdt=6,48 Plaintiff alleges that Defendant violated 15 U.S.C. § 1681b — which specifies the permissible reasons a CRA may furnish a consumer ...
by ChrisGreen
Tue Jul 29, 2014 3:09 pm
Forum: Credit Errors
Topic: If Delinquent Debt is Extinguished Should It Be Reported
Replies: 1
Views: 5263

If Delinquent Debt is Extinguished Should It Be Reported

Murphy v Ocwen Loan Servicing. ED California 2014 http://scholar.google.com/scholar_case?case=12492472456648782007&hl=en&as_sdt=6,48 Plaintiffs' contention is that § 580b of the Cal. Civ. Proc. Code effectively extinguishes their debt, and thus to furnish information indicating that the debt...
by ChrisGreen
Tue Jul 29, 2014 2:53 pm
Forum: FCRA Preemption: 15 U.S.C. 1681t[b][1][F] and Related Discussions
Topic: De Armond on FCRA Preemption and State Regulation of Credit
Replies: 0
Views: 1329

De Armond on FCRA Preemption and State Regulation of Credit

http://pubcit.typepad.com/clpblog/2014/07/de-armond-on-fcra-preemption-and-state-regulation-of-credit-reports.html The Great Recession awoke state legislators to the power of individuals’ credit reports to hinder economic opportunities. Many legislators would like to assuage the effects of bad histo...
by ChrisGreen
Mon Jul 28, 2014 3:59 pm
Forum: FCRA Statute And Amendments: 15 U.S.C. 1681, et. seq.
Topic: FTC Staff Report on Fair Credit Reporting Act 2011
Replies: 0
Views: 1823

FTC Staff Report on Fair Credit Reporting Act 2011

The FTC Staff Report with summary of interpretations was released in 2011. A PDF version of the full report can be downloaded here:


http://www.ftc.gov/sites/default/files/ ... report.pdf
by ChrisGreen
Mon Jul 28, 2014 2:47 pm
Forum: What is a Consumer [Credit] Reporting Agency?
Topic: List of All Consumer Reporting Bureaus Regulated by the CFPB
Replies: 0
Views: 1629

List of All Consumer Reporting Bureaus Regulated by the CFPB

A list of all the consumer reporting bureaus regulated by the CFPB are in this document: http://files.consumerfinance.gov/f/201207_cfpb_list_consumer-reporting-agencies.pdf Certegy Check Services ChexSystems Early Warning Services Telecheck Clarity Services DataX FactorTrust MicroBilt Teletrack Insu...
by ChrisGreen
Mon Jul 28, 2014 2:39 pm
Forum: FCRA Statute And Amendments: 15 U.S.C. 1681, et. seq.
Topic: Updated Fair Credit Reporting Act - PDF
Replies: 0
Views: 1856

Updated Fair Credit Reporting Act - PDF

Updated version of the fair credit reporting act is available at the site:

http://www.consumer.ftc.gov/articles/pd ... ng-act.pdf
by ChrisGreen
Mon Jul 28, 2014 2:26 pm
Forum: Credit Errors
Topic: Note The Debt As Disputed
Replies: 0
Views: 1730

Note The Debt As Disputed

The FCRA - 15 USC section 1681s-2(b)(1)(D) (FN1) provides that if the investigation finds that the information is “incomplete or inaccurate,” the furnisher shall “report those results to all other consumer reporting agencies to which the person furnished the information and that compile and maintain...
by ChrisGreen
Mon Jul 28, 2014 2:14 pm
Forum: Credit Errors
Topic: Pyramiding Late Fees
Replies: 0
Views: 1843

Pyramiding Late Fees

A portion of the Credit Practices Rule implemented by the FTC, banks and credit unions prohibit "pyramiding" late fees. A bank or credit union may not assess late charges when a loan is current on principal and interest due but is in arrears on previous late charges. 12 CFR section 706.4(a...
by ChrisGreen
Mon Jul 28, 2014 1:57 pm
Forum: Credit Errors
Topic: How a furnisher deletes an account
Replies: 0
Views: 1575

How a furnisher deletes an account

Some furnishers imply they need to undertake an arduous process to delete an account from being reported to a credit reporting bureau. This is not the case, all that is necessary is for a furnisher to enter “DA” into Field 17A (Account Status Field) to delete the entire account for reasons other tha...
by ChrisGreen
Mon Jul 28, 2014 11:24 am
Forum: Credit Errors
Topic: Revival of Claims: Single Publication?
Replies: 0
Views: 1518

Revival of Claims: Single Publication?

Fearon v. Fleet Credit Card Services, cause no. 00-2395 (U.S.D.C. Minn. 2/22/01) The Court applied Ryan v. Trans Union, 2000 Westlaw 1100440 (N.D. Ill. 2000), to find that plaintiff may not allow a potential claim to collect dust then revive it several years later by requesting a credit bureau to is...
by ChrisGreen
Mon Jul 28, 2014 11:21 am
Forum: Credit Errors
Topic: Is the ACDV System Compliant? No.
Replies: 0
Views: 1603

Is the ACDV System Compliant? No.

Some courts that have addressed the issue of whether the ACDV system and its use of codes to convey the relevant consumer information complies with the FCRA. See Davis v. Equifax Information Services LLC, 346 F. Supp. 2d 1164, 1176 (N.D. Ala. 2004) (where consumer did not know what information CRA a...
by ChrisGreen
Mon Jul 28, 2014 11:19 am
Forum: Credit Errors
Topic: Technical Accuracy Is Not the Standard
Replies: 0
Views: 1431

Technical Accuracy Is Not the Standard

The standard of accuracy for credit reports embodied in FCRA is objective measure that should be interpreted in even-handed manner toward interests of consumers and creditors in fair and accurate reporting. Cahlin v. GMAC, 936 F.2d 1151 (11th Cir. 1991) [Fla.]; 15 U.S.C. 1681e(b). Technical accuracy...
by ChrisGreen
Mon Jul 28, 2014 11:14 am
Forum: Credit Errors
Topic: Late Payment Reporting - 30 days late, 60 days
Replies: 1
Views: 2635

Late Payment Reporting - 30 days late, 60 days

Reporting a late payment. 30 days after the “due date” in the contract, the credit reporting bureau may change Account Status (field 17A) from “11” meaning “0-29 days past due date” (i.e. current) to “71” meaning “30-59 days past due date” and to “78” meaning “60-89 days past due date” if the paymen...
by ChrisGreen
Mon Jul 28, 2014 11:04 am
Forum: Credit Errors
Topic: Credit Reporting Is Debt Collection
Replies: 0
Views: 1445

Credit Reporting Is Debt Collection

First, reporting an alleged debt by a debt collector to a consumer reporting agency is a “communication” in connection with the collection of a debt and gives rise to a violation of 15 U.S.C. 1692e[8], of the FDCPA. Sullivan v. Equifax, 2002 WestLaw 799856 [U.S.D.C. E.D. Pa. 2002]. Next, failing t...

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