@RobertEG wrote:
Addiionally, a furnisher can always reinsert information, even it was previously delted by a CRA based on a finding in a prior dispute.
Deletion is not absolute.
FCRA 611(a)(5)(B) sets forth the procedure for reinsertion of information that was deleted based on a prior dispute, and in a nutshell, permits reinsertion provided the furnisher submits a Certification of Accuracy of the information.
@RobertEG wrote:
Addiionally, a furnisher can always reinsert information, even it was previously delted by a CRA based on a finding in a prior dispute.
Deletion is not absolute.
FCRA 611(a)(5)(B) sets forth the procedure for reinsertion of information that was deleted based on a prior dispute, and in a nutshell, permits reinsertion provided the furnisher submits a Certification of Accuracy of the information.
Question: Does anyone here have technical knowledge as to how BIG / high-volume data furnishers typically perform account re-insertions of previously deleted accounts?
Specifically, some questions around the mechanics and nuts and bolts of account re-insertion by data furnishers such as Capital One, Bank of America, etc (i.e. not your neighborhood lenders):
1. Does re-insertion action typically occur through e-Oscar system (as other routine dispute processing) ?
If YES:
2. To do an electronic re-insertion of a given account, is it true that all 3 of the following must match (match between what information CRA has on the consumer and information supplied by the data furnisher):
-- Name
-- SSN
-- Address
In other words, in a hypothetical example, if following account deletion, the consumer deletes the address associated with that account, does it make it virtually impossible for the data furnisher to re-insert account electronically?
3. How does e-Oscar system faciliate explicit compliance with FCRA 611(a)(5)(B)? E.g. does e-Oscar software/system have a "feature" for data furnisher to provide/attach "certification of accuracy of information" stipulated by FCRA 611(a)(5)(B).
(NOTE: Of course, it's obvious that with enough effort, any account can be re-inserted by any data furnisher, e.g. using a good old manual process of submitting paper letters. My question is NOT about that aspect but rather about the practical elements of account re-insertion and how it's done by BIG / high-volume data furnishers such as Capital One, Bank of America, etc., who are unlikely to do a lot of manual paper processing for individual consumer accounts, unless it concerns let's say matters of litigation).
Of course, if anyone has any other practical knowledge with regard to account re-insertion process that would be very, very helpful.
Thanks!!
