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.
Message Edited by RobertEG on 03-07-2010 03:41 AM
