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FRCA Violation?

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Anonymous
Not applicable

FRCA Violation?

Is it an FRCA violation if a collection agency reports late payment history each month to the credit report? 

 

I have 3 from Portfolio Recovery, and each month, they show a history showing as "Late." The balances have been paid, and that is still not reflecting either.

 

See below:

 

2014
JAN
FEB
MAR
APR
MAY
JUN
JUL
  AUG
SEP
OCT
NOV
DEC
2015
JAN
FEB
MAR
APR
MAY
JUN
JUL
 
SEP
OCT
NOV
DEC
2016
JAN
Message 1 of 5
4 REPLIES 4
RobertEG
Legendary Contributor

Re: FRCA Violation?

Credit reports often show payment history reported by the OC, grouped under the collection heading, to show the delinquency history on the debt.

Debt collectors report and their reporting is coded and stored in a separate part of the consumer's credit file called the K-segment, which does not proivde for separate reporting by debt collectors of lates on billings they have made.

 

I would thus be sure, before asserting that a debt collector has reported false or inaccurate information, to have evidence of what they actually reported, and not infer reporting from what is formatted on a commercial credit report.

 

As for assertng violation of the FCRA, I assume you are asking what remedy a consumer might have if they feel that reporing is improper.

The legal answer is that a consumer cannot bring their own private action against a furnisher asserting knowingly incorrect reporting.  A consumer must first file a dispute with the CRA, thus providiing a referral to and investigation of their reporting by the furnisher.  After receiving the results of the required investigation by the furnisher, then a consumer can bring action for violation of the reasonable investigation requirement of the dispute process, but a consumer cannot bring direct private suit for improper reporting of inaccurate information.

 

Stated succinctly, you should file a dispute if you feel they have reported inaccurate information, and get a decision on the disptue before proceeding with any assertion of vioaltion of the FCRA.

Message 2 of 5
Anonymous
Not applicable

Re: FRCA Violation?

Credit reports often show payment history reported by the OC, grouped under the collection heading, to show the delinquency history on the debt.
Noted, but this can't be history from the OC, because the OC sent this to a CA in 2013, and the reporting started in 2014 from the CA.

Debt collectors report and their reporting is coded and stored in a separate part of the consumer's credit file called the K-segment, which does not proivde for separate reporting by debt collectors of lates on billings they have made.

 

I would thus be sure, before asserting that a debt collector has reported false or inaccurate information, to have evidence of what they actually reported, and not infer reporting from what is formatted on a commercial credit report.

Where can I find a good report online to see this laid out better? I'm with CreditCheckTotal, MyFico and CK.

 

As for assertng violation of the FCRA, I assume you are asking what remedy a consumer might have if they feel that reporing is improper.

The legal answer is that a consumer cannot bring their own private action against a furnisher asserting knowingly incorrect reporting.  A consumer must first file a dispute with the CRA, thus providiing a referral to and investigation of their reporting by the furnisher.  After receiving the results of the required investigation by the furnisher, then a consumer can bring action for violation of the reasonable investigation requirement of the dispute process, but a consumer cannot bring direct private suit for improper reporting of inaccurate information.

Also noted, I was more or less trying to see if anyone thought this was inaccurate -- based on what I saw.

 

Stated succinctly, you should file a dispute if you feel they have reported inaccurate information, and get a decision on the disptue before proceeding with any assertion of vioaltion of the FCRA.

Message 3 of 5
RobertEG
Legendary Contributor

Re: FRCA Violation?

An OC account can continue to accrue delinquencies, even after being referred to a debt collector for their collection assistance, if the OC still owns the debt.

Do you have knowldege that the OC purchased the debt, as opposed to only being an assigned collection agent?

 

Best bet may be to send a dispute, which will likely get some answers from the debt collector, such as the delinquencies were not separately reported by them.....

Message 4 of 5
Anonymous
Not applicable

Re: FRCA Violation?

I have no proof that they purchased the debt, no.

 

But I since I knew I owed it, I paid it. But what's frustrating is the late reports every month they posted. For almost 2 years. Plus, they still have not reported my paid balance.

Message 5 of 5
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