02-17-2013 03:00 PM
Once an account has been delete from your credit report, because the CA didn't validtate the debt, can the CA have the debt put back on the credit report at a later date?
Thanks in advance
02-17-2013 07:06 PM - edited 02-17-2013 07:07 PM
Yes. Failure to have verified within the period is not final. They can provide at a later time, but the lacking verification must be submiited as a separate cefification of accuracy, along with the reporting, and accepted by the CRA before it can be reinserted.
That applies to any party, not just the one who previously reported.
If the CRA accepts the verification, they can immediately reinsert, but must provide notice to the consumer within 5 days.
02-18-2013 08:49 AM
I think it also costs them some money to have it put back in your credit report. Unfortunately sometimes trying to get stuff taken off a credit report can make you pop up on the radar screen for CAs. It is kind of like when you get a junk email and click the link to be removed from the list and they actually send you more emails. That is sort of the risk you take by trying to get stuff removed from your report. If you still owe someone money, if you are considering disputing the item be aware that if you are still within the statue of limitations for the company to go after you for the debt, if they believe that you have the money to pay them they may try to sue you for it. This of course depends on the circumstances. It costs a lot of money to sue someone and they wont do it if you owe like 100 dollars.
02-18-2013 10:47 AM
Yes, it does not appear to be common, and most likely wont happen.
The debt collector must first conduct a reasonable investigation of the accuracy, and be willing, based on that investigation, to make a statement of verification of accuracy and submit that to the CRA in the form of a certification that they have done so. That's time and money. Credit reporting is but one tool in their collection arsenal.
It does not prevent them from continuing other collection activities.
The answer to the basic question is yes, it can be reinserted. The answer to the question of the chance of that occuring appears, from other posts on the site, to be rare.
If a reinsertion does appear and the consumer has not received written notice from the CRA within 5 days of their reinsertion, the CRA has violated their obligation.
Thus, the consumer should be aware of such reinsertion without the need to constantly pull their credit report.