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Equifax admits to breaking the law

Stugotsv10
Frequent Contributor

Equifax admits to breaking the law

so on Friday I spoke to a supervisor at Equifax... I explain to him that According to the Fair Credit Reporting Act, Section 609 (a)(1)(A)you are required by federal law to verify - through the physical verification of the original signed consumer contract - any and all accounts you post on a credit report.  

 

he says

 

"We don't have to abide by that law"  after much arguing with him, he basically repeated  this several times and says "Sir I have to disconnect this call"

 

Who governs these people??????????

Message 1 of 8
7 REPLIES 7
vntrsc
Frequent Contributor

Re: Equifax admits to breaking the law

Which part of the law you cited states anything about verifying an account by means of a signed contract?

Message 2 of 8
MaizeandBlue
Senior Contributor

Re: Equifax admits to breaking the law

I read the cited portion of the Fair Credit Report Act directly from the Federal Trade Commission's website and it says nothing about a credit agency's responsibility for verifying information in a consumer's file.  It only refers to the release of information in a consumer's credit report to said consumer on request: https://www.consumer.ftc.gov/articles/pdf-0111-fair-credit-reporting-act.pdf

 

I think RobertEG's comment on Section 609 is particularly instructive:  https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/quot-609-Letters-quot-what-s-the-deal/m-p/52...





Message 3 of 8
Stugotsv10
Frequent Contributor

Re: Equifax admits to breaking the law

Fair enough.

 

however the account is STILL not his, and they keep saying it is and showing NO proof what so ever

Message 4 of 8
RobertEG
Legendary Contributor

Re: Equifax admits to breaking the law

The dispute process under FCRA 611(a) imposes verification requirements on both the furnisher of the disputed information (e.g., creditor or debt collector) and the CRA.  FCRA 609(a) does not.

 

In a nutshell, a dispute requires the CRA to forward a copy of the dispute to the furnisher, and requires the furnisher to then conduct an investigation of accuracy of the disputed information, and report their results back to the CRA, which can be either verification or correction.

If they verify, they are not required to provide documentation or prove the accuracy.  the CRA then assembles all information, including the finding provided by the furnisher, and then conducts it own reinvestigation.  The results of that reinvestigation constitutes the final result of the dispute, and if they CRA finds no inaccuracy, they can verify.  Again, verification does not require that they must provide legal proofs supporting their finding.

 

The consumer can then compel the CRA or furnisher to provide the evidence and documention supporting their finding, but not under the administrative FCRA dispute process.  That is done by bringing civil action contesting the reasonableness of the investigation of the dispute, which then permits the consumer to use the court's discovery process to compel the production of any relevant supporting evidence.

 

If the disputed information is still considered to be inaccurate, then compelling documentary evidence and getting that evidence reviewed by a body who has the authority to rule on that evidence is done via civil action contesting the investigation.

 

FCRA 609(a) has NO provisions, period, for contesting the accuracy of the reporting, or compelling a CRA to obtain and provide orginal evidence from the creditor.

If such an interpretation of section 609(a) is asserted, there would be need for some prior case law showing that an appellate court in the judicial jurisdiction has agreed with and affirmed such an interpretation.  I know of no case law that makes such a stretched interpretation of FCRA 609(a).

If you wish to assert such an interpretation of section 609(a), then you should consult an attorney and obtain a legal opinion as such from a member of the bar.

 

 

Message 5 of 8
vntrsc
Frequent Contributor

Re: Equifax admits to breaking the law

Great explanation, RobertEG. Thank you. 

Message 6 of 8
Seezer
Frequent Contributor

Re: Equifax admits to breaking the law


@Stugotsv10 wrote:

so on Friday I spoke to a supervisor at Equifax... I explain to him that According to the Fair Credit Reporting Act, Section 609 (a)(1)(A)you are required by federal law to verify - through the physical verification of the original signed consumer contract - any and all accounts you post on a credit report.  

 

he says

 

"We don't have to abide by that law"  after much arguing with him, he basically repeated  this several times and says "Sir I have to disconnect this call"

 

Who governs these people??????????


This is gaslighting. Don't use sensationalized hyperbole out of frustration. 

Message 7 of 8
Stugotsv10
Frequent Contributor

Re: Equifax admits to breaking the law

Well what this is is a Con.

 

Something on the report thats incorrect  they can not prove otherwise but they are believed by saying "yup"... it's almost black mail using reports "Pay us because we will be believed no matter what" 

Message 8 of 8
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