According to the Fair Credit Report is it unlawful for a creditor to remove a debt off your credit report? That's what I was told from a collection agency.
2007-08-16 08:28:29 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
The collector was lying (imagine that)
A creditor or collector has the right to report AND the right to NOT report a valid account or debt.
A creditor or collector has the right to report a valid account or debt to only one or two CRA's or to all three.
Any business, creditor or collector, has the right stop reporting on a report at any time.
The one thing that they legally MUST do is report the valid account or debt correctly if they do report.
The collector is trying to snow you, in my opinion.
You should stop speaking to them by phone, only correspond by mail.
If you have not sent a debt validation letter, you should.
You should also include in the DV that you are requesting that no calls are made to you at your place of business or your home as it is inconvenient to you and all future correspondence from them must be made in writing and sent by USPS.
Never sign your name to anything that is sent to a collector, only print your initials or type your name
Everything that is sent to a collector should be sent certified mail return receipt
If you had that statement from them in writing, you would have them on FDCPA violations - false information, etc.
ETA - I agree with Cali
2007-08-16 08:53:40 · answer #1 · answered by echo 7 · 1⤊ 0⤋
Never believe anything said from a collector or a collection agency. It is NOT unlawful to remove a debt off of your credit report. In fact, there are many creditors who do not report to the credit bureaus unless the debt goes into default. If you are trying to work something out with this collection agency, tell them that you will NOT send them a dime unless they remove the derogatory off the credit report and insist that it be put in writing. No agreement in writing......no money sent.
2007-08-16 08:52:19 · answer #2 · answered by Anonymous · 1⤊ 0⤋
No, they blew smoke up your butt.
They are not required to report ANYTHING to your credit report...that is how much of a lie that was.
It is, however, a violation of their contract with the credit bureaus to remove valid debt information...but it has nothing to do with the Fair Credit Reporting act.
It is PURELY up to the creditor, on what to report vs not report. However, most do follow the letter of the contract.
2007-08-16 09:47:13 · answer #3 · answered by Expert8675309 7 · 0⤊ 0⤋
Sorry yet that could be a valid get entry to. for that reason the unique Creditor will checklist the account as a cost-Off and have a 0 stability. the series enterprise will checklist the present stability due. the only element you may desire to dispute is that if the unique Creditor is itemizing a stability or you have extra desirable than one series enterprise reporting the debt on the comparable time.
2016-10-02 11:25:46 · answer #4 · answered by piekarski 4 · 0⤊ 0⤋
You do know that creditors have to pay to have you on a credit report . At least thats what I read on fix my ugly credit .com ( all one word)
2007-08-16 09:10:19 · answer #5 · answered by Crazy cat lady >^ ^< 4 · 0⤊ 0⤋
It is unlawful for them to remove a vaild debt from your credit report.
2007-08-16 09:01:00 · answer #6 · answered by Anonymous · 0⤊ 3⤋
While you shouldn't talk to them on the phone, you could ask them if they call again just what section of the FCRA it that states that it is illegal
2007-08-16 09:02:44 · answer #7 · answered by Craig T 6 · 0⤊ 0⤋
The first two posters are totally correct.
2007-08-16 09:26:26 · answer #8 · answered by ? 7 · 0⤊ 0⤋