Common FCRA Violations | Credit Bureaus, Creditors, Collectors

🔮 Today we're covering common FCRA (fair credit reporting act) violations for credit bureaus, creditors, and collectors. If you would like to check this out head over to https://articles.ask-kristin.com/common-violations-of-the-fcra Furnishing and Reporting Old Information CRAs and the creditors who supply information to them must provide and keep your credit information current. When your credit circumstances have changed, and the information in your credit report isn't updated to reflect these changes, this failure might be a violation of the FCRA. Some examples of this include: failing to report that a debt was discharged in a bankruptcy reporting old debts as new or re-aged reporting an account as active when it was voluntarily closed by a consumer, and reporting information that is more than seven years old (like bankruptcy) or ten years old (such as civil judgments). ✨ Check out all 3 credit reports and scores with the same credit monitoring I show in my videos and use for my clients with IdentityIQ: ✨ https://member.identityiq.com/help-you-to-save-money.aspx?offercode=431134PT 🧙‍♀️ GET HELP WITH YOUR CREDIT JOURNEY DIY awesome free tools, tutorials and downloads - https://vault.my740.com 🦸‍♀️ DFY credit sweep service free consultation 🦸‍♀️ https://my740.com Let's jump on a call and see if I can help! ⭐️ Video notes Considering that we're on a roll with violations, tonight, we're going over common FCRA violations. And that is Fair Credit Reporting Act violations for the creditors, credit bureaus and collectors. Now, if you didn't see the collections video, head back to my channel, or use the link in the description to check out the top five debt collector tactics as well as FCRA and FDCPA, debt collector violations. And why they you may also want to check out how to remove verified accounts on your credit report because the Bureau's are just not cooperating. And if you don't know these tactics, then you will not be able to remove your negative items. Alright, so let's get too common FCRA violations. And, of course, make sure to stay to the end of the video because this can be the difference between removing a negative item and unfortunately, having it stay on your credit report. And yes, for free, you can access this link in the description so that you can go check this out in your own time. Alright, so what is the Fair Credit Reporting Act? You ask? Well, I'll tell you, it governs the behavior of consumer reporting agencies, also called credit bureaus. And let's just make this a little bit bigger because I don't want for anyone to say Oh, I couldn't read it. Alright, so failing to report that a debt was discharged in bankruptcy. I see this all the time, reporting old debts as newer age I see this all the time. Hello. That's why it's called Common Reporting an account as active when it was voluntarily closed by a consumer and reporting information that is more than seven years old, like a bankruptcy, or 10 years old, like civil judgments, right? furnishing and reporting in accurate information. This one's my favorite, your creditor must not supply information to a care that it knows or should know, is an accurate you like that or should know. This includes reporting a debt as charged off when you settled it or paid it in full misstating the balance do reporting late payments when you paid timely Oh, I love that one, listing you as a debtor on an account when you are only the authorized user or supplying credit information on an account where identity theft was previously reported or failing to maintain a reasonable procedure for you to report identity theft mixed files. Now, just in case you don't know what a mixed file is, that is where it is your information plus someone else's information or multiple someone's right so morphing or duplicating negative information with a stranger who shares a similar social security number failing to distinguish junior and senior mixing the information of persons with the same last name and similar first name and combining or mixing credit files or persons with similar names living in the same city or zip code. Did you know this failing to follow debt dispute procedures. So when you submit a written dispute about the accuracy of an item on your report, credit bureaus, and your creditors must take certain actions in response. Alright, so let's just jump down to what these are, notify a creditor that you dispute the debt that is reported. This is called the notice of dispute and it is required within 30 days of the date of your first dispute receipt. And this is required under Section 623. Conduct a reasonable investigation of your disputes section 1681 correct or delete any inaccurate, incomplete or unverifiable information within 30 days or 45 days. In some cases, like right now of receiving notice of your dispute and debt dispute violations by creditors and other information suppliers.