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Need help with FDCRA

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JohnDoe12
New Contributor

Need help with FDCRA

I GWed an OC and got a response that quoted the Fair Debt Credit Reporting Act.

 

1. Is this the same as the FDCA?

 

2. If so, where can I find a copy of the law online?

 

This OC states that while they have the power to delete tradelines, arbitrarily deleting tradelines would be a violation of the act because he quotes," '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 theat the information is inaccuate.' Deleting a properly-recorded  and accurately updated tradeline would result in ____ intentional reporting of inaccurate consumer credit information to Experian."

 

3. Anyone care to comment? I could write a huge rebuttal, but I would like to hear some ideas on this. I plan to reply with a kind rebuttal and again requesting the deletion, so any ideas on rebuttle ideas or other strategies are welcome. The original GW letter was addressed to a CFO and the reponse came from an executive representative.

 

Thanks,

JD12

 


Starting Score: EQ 660, TU 698 | 30-Jan 2011
Current Score: EX ???, EQ ???, TU 822 | 11-Aug 2015
Goal Score:EX 700, EQ 700, TU 720 | 30-Jan 2011
Goal Score:
EX 800, EQ 800, TU 843 | 30-Aug 2015
***High Score:TU 843 - Dec 2014 ***
Message 1 of 3
2 REPLIES 2
guiness56
Epic Contributor

Re: Need help with FDCRA

It is called the FCRA - Fair Credit Reporting Act.

 

The FCRA says if a creditor reports it must be accurate.  It does not say they MUST report.

 

If you read through the posts you will find that many creditors  say the same thing.  It is up to the creditor to report or not.  Many don't.

 

You can google FCRA.  Just make sure you read the most current one.

Message 2 of 3
llecs
Moderator Emeritus

Re: Need help with FDCRA


@JohnDoe12 wrote:

2. If so, where can I find a copy of the law online?


http://www.ftc.gov/os/statutes/031224fcra.pdf

 

The above is the link to the FCRA as mentioned by guiness56. The other law commonly referred to is the FDCPA (Fair Debt Collections Practices Act) which is for CAs only, but based on what you posted, the FCRA applies here.

Message 3 of 3
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