A willful and negligent failure to do so is violation number 1 of the FCRA. One wonders then when in fact it turns out that certain Credit Reporting Agency ["CRA"] procedures, or miss thereof, assure maximum possible inaccuracy of information in the consumers credit report. Are we to take it that the words of a federal law mean exactly the opposite of what they say?
Legally, philosophically, morally, one would think not. A trade line on your credit report provides certain standard items of online credit report free Philadelphia information about an account you have, such as the name of the company ( say a department store, for example), the companys address, the account number, the current balance on the account, the terms of the credit, and online credit report free Philadelphia so forth.
Any of this information could in fact online credit report free Philadelphia turn out to be incorrect, but the item of online credit report free Philadelphia information we will address in this article is that definite online credit report free Philadelphia and critical identifier for the CRAs, the account number. free credit score reports One would think that such a mundane piece of information as an account number couldnt possibly cause that much trouble, and in a sense that is true. What actually causes the problem is when the account number for the same account gets changed, and sometimes morphed online credit report free Philadelphia repeatedly, so that the identity of the actual account is greatly obscured.
When this online credit report free Philadelphia is allowed to happen, the CRAs super computers, employing simple logic but lacking intelligence, assume that an account is the same, or a match, when it has the same account number, and that it is different when it does not. credit reports from
Therein can lie the source of much headache, aggravation and damages for a consumer, and much denial of responsibility from the CRAs. Let us say that Consumer An is receiving bills for a .00 balance on a department store credit card. Consumer A never applied for such a card and therefore the debt cannot be his. He suspects someone stole his identity and opened the account using his social security number and other private information. After numerous phone calls and letters back and forth, the department store agrees that it is not Consumer As debt after all and online credit report free Philadelphia tells Consumer A not to worry about it, that theyll take care of it. Naturally, Consumer An is now relieved and assumes that it will be taken care of, i..e., they will stop billing him for the invalid debt and it will be deleted from his credit report.
The account number, by the way let us say it is online credit report free Philadelphia 1234567890 and that is the way the CRAs are reporting it on Consumer As credit reports. free credit re port Consumer A notifies the CRAs by certified mail of the situation, along with documentation, and they online credit report free Philadelphia all delete the previously reported online credit report free Philadelphia trade line within a month.
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