Major Change to FCRA Dispute PRocess

RobertEG — Sun, 07 Mar 2010 11:46:25 GMT

In what I have always thought to be one of the stupidest and most restrictive provisions of the FCRA, the only dispute process previously availbible to consumers was to file any and all disputes against any creitorl by way of dispute party dispute with the third-party consumer reporiting agency to which they were rubber stamp. Disputes should be directly with the creditor.

Consumers could not previously dispute direcltly with the creditor. They had to, stupidly, first got trough CRA pre-processing, and the ruthless dossimiation of their brainless and automated E-Oscar process; referral of their much-sanitized reaasn s to a credior, thrugh a limioted E-Oscar code number, and and referral oof whateer trought anoother code.

Congress recognized the stupidity of this dispute proocess a decade, and yet enacted FCRA 623(a)(8), permitting direct dispiute between the contesting parties to be delayed for more than a decase, That delsy is now GONE!

It was just on hold pending final rules plublished in the Feferal Register. Those final rules will become effeciive July 1,2010.

Consumers, as of 7/1/2010, can now dispute, under the statutory provisions of FCRA 623(a)(8), any reporiting of information to a CRA directly iwith the party who provided the information, without having to use the CRA as an intermediatary.

Re: Major Change to FCRA Dispute PRocess

Schoolbuskid — Sun, 07 Mar 2010 15:37:18 GMT

THanks for info Robert, but you must of seriously been sleepy or something...one too many typos!

Re: Major Change to FCRA Dispute PRocess

MrChairman — Sun, 07 Mar 2010 23:23:55 GMT

Is there any information on how long the creditors will have to respond? Is it shorter or longer than the 30 days that the CRA's have. I see alot of ppl getting many things off of their reports now. E-Oscar system is a joke, it will verify anything.

topic Re: Major Change to FCRA Dispute PRocess in Rebuilding Your Credit

Major Change to FCRA Dispute PRocess

Re: Major Change to FCRA Dispute PRocess

Re: Major Change to FCRA Dispute PRocess