Ok..long winded title eh? Anyhow I was thinking about people who don't live in Texas and don't seem to have any way to battle these CAs who put everything under the sun on credit reports and ignore DV letters for being outside of the 30 day window.
I am thinking there may be a different way to do this for those people and it may work. It involved using the FCRA namely, this section:
Â§ 623. Responsibilities of furnishers of information to consumer reporting agencies [15 U.S.C. Â§ 1681s-2]
(a) Duty of Furnishers of Information to Provide Accurate Information
(A) Reporting information with actual knowledge of errors. A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.
(B) Reporting information after notice and confirmation of errors. A person
shall not furnish information relating to a consumer to any consumer
reporting agency if
(i) the person has been notified by the consumer, at the address specified by the person for such notices, that specific information is inaccurate; and
(ii) the information is, in fact, inaccurate.
Ok so what someone should do then is send a letter to the CA who is reporting things that are inaccurate like terms, open account, factoring, installment, whatever, past dues, etc...list each one specifically and point out how it SHOULD be reporting. Example:
1. You are reporting a past due balance when I have never entered into any payment arrangements with you to be past due upon.
2. You are reporting this account as type Factoring Company account when it should be reported as a Collection account.
When you get the green card back, you then dispute with the CRAs like you were doing the 1-2 punch. When it gets verified and you have given the CA a reasonable amount of time to correct the problem you send them an ITS letter informing them that since they willfully continue to report these obvious errors, you have no choice but to sue them as there is no way they can claim a bona fide error on this.
If they STILL don't respond (and we all know they likely won't) then you go file in court for the $1000 PER violation. This could add up if they are reporting on all 3 reports and more then one item...say they are reporting open, past due and wrong account type..that is $9000 in violations...plus don't forget the court fees.
Now from what I have seen and experienced, once you file they see you mean business and suddenly they start trying to settle.
I honestly think this would work, and work well.....problem is I live in a state where it works even better then that due to our wonderful state laws....
So...someone in another state should try this method....I am certain it would work....would turn the collection industry on it's ear if people who couldn't DV under normal circumstances could nail them in this fashion.:cool:
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