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Our comments & addition information is in red. Items that were new in 2003 are underlined.
(As designed by the Federal Trade Commision)
Para information en espanol, visite www.ftc.gov/credit o escribe a la FTC Consumer Response Center, Room 130-A 600 Pennsylvania Ave. N.W., Washington, D.C. 20580.
Summary of Your Rights Under the Fair Credit Reporting Act
The federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies (such as agencies that sell information about check writing histories, medical records, and rental history records).
You may have even more rights, depending on the laws of your state. For a complete list of all CRA's see our WebLinks.
Here is a summary of your major rights under the FCRA.
For more information, including information about additional rights, go to www.ftc.gov/credit or write to: Consumer Response Center, Room 130-A, Federal Trade Commission, 600 Pennsylvania Ave. N.W., Washington, D.C. 20580.
You must be told if information in your file has been used against you. Anyone who uses a credit report or another type of consumer report to deny your application for credit, insurance, or employment - or to take another adverse action against you - must tell you, and must give you the name, address, and phone number of the agency that provided the information.
The agency may not necessarily be the big 3 - Experian, Equifax, or TransUnion. If you do not qualify for the best rate, ask these three questions: 1) What was my credit score? 2) What score would of qualified me for the best rate? 3) Give me the name, adress and number of the agency that provided you my report?
You have the right to know what is in your file. You may request and obtain all the information about you in the files of a consumer reporting agency (your "file disclosure"). You will be required to provide proper identification, which may include your Social Security number. In many cases, the disclosure will be free. You are entitled to a free file disclosure if:
- a person has taken adverse action against you because of information in your credit report;
- you are the victim of identify theft and place a fraud alert in your file;
- your file contains inaccurate information as a result of fraud;
- you are on public assistance;
- you are unemployed but expect to apply for employment within 60 days.
The big 3 national CRA's are:
Equifax Credit Information Services
PO Box 740241
Atlanta, GA 30374
(800)685-1111
Trans Union Consumer Relations
PO Box 390
Springfield, PA 19064
(800) 916-8800
Experian National Consumer Assistance Center
P.O. Box 949
Allen, TX 75013
(888) 397-3742
In addition, by September 2005 all consumers will be entitled to one free disclosure every 12 months upon request from each nationwide credit bureau and from nationwide specialty consumer reporting agencies. See www.ftc.gov/credit for additional information.
To order a free copy of your credit report call 1-877-322-8228.
You have the right to ask for a credit score. Credit scores are numerical summaries of your credit-worthiness based on information from credit bureaus. You may request a credit score from consumer reporting agencies that create scores or distribute scores used in residential real property loans, but you will have to pay for it. In some mortgage transactions, you will receive credit score information for free from the mortgage lender.
You have the right to dispute incomplete or inaccurate information. If you identify information in your file that is incomplete or inaccurate, and report it to the consumer reporting agency, the agency must investigate unless your dispute is frivolous. See www.ftc.gov/credit for an explanation of dispute procedures.
You must receive a written record of the investigation within 30 days along with a copy of your credit record if it was changed. If you are not satisfied with the results of the investigation, you can add a brief statement to your record. The credit bureau must include a summary of your statement with future releases of your record. If an item is deleted or a dispute statement added, you may ask that anyone who has recently received your record be notified of the change.
Consumer reporting agencies must correct or delete inaccurate, incomplete, or unverifiable information. Inaccurate, incomplete or unverifiable information must be removed or corrected, usually within 30 days. However, a consumer reporting agency may continue to report information it has verified as accurate.
Consumer reporting agencies may not report outdated negative information. In most cases, a consumer reporting agency may not report negative information that is more than seven years old, or bankruptcies that are more than 10 years old.
Access to your file Is limited. A consumer reporting agency may provide information about you only to people with a valid need — usually to consider an application with a creditor, insurer, employer, landlord, or other business. The FCRA specifies those with a valid need for access.
You must give your consent for reports to be provided to employers. A consumer reporting agency may not give out information about you to your employer, or a potential employer, without your written consent given to the employer. Written consent generally is not required in the trucking industry. For more information, go to www.ftc.gov/credit.
You may limit "prescreened" offers of credit and insurance you get based on information in your credit report. Unsolicited "prescreened" offers for credit and insurance must include a toll-free phone number you can call if you choose to remove your name and address from the lists these offers are based on. You may opt-out with the nationwide credit bureaus at 1-888-567-8688
You may seek damages from violators. If a consumer reporting agency, or, in some cases, a user of consumer reports or a furnisher of information to a consumer reporting agency violates the FCRA, you maybe able to sue in state or federal court.
Identity theft victims and active duty military personnel have additional rights. For more information, visit www.ftc.gov/credit. States may enforce the FCRA, and many states have their own consumer reporting laws. In some cases, you may have more rights under state law. For more information, contact your state or local consumer protection agency or your state Attorney General.
Federal enforcers are:
| TYPE OF BUSINESS: |
CONTACT: |
| Consumer reporting agencies, creditors and others not listed below |
Federal Trade Commission: Consumer Response Center - FCRA, Washington, DC
1-877-382-4357
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| National banks, federal branches/agencies of foreign banks (word "National" or "N.A." appears in the bank's name) |
Office of the Comptroller of the Currency, Compliance Management, Mail Stop 6-6, Washington, DC
1-800-613-6743
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| Federal Reserve System member banks (except national banks and federal branches/agencies of foreign banks) |
Federal Reserve Board, Division of Consumer and Community Affairs, Washington, DC 20551
1-202-452-3693
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| Savings associations and federally chartered savings banks (word "Federal" or "F.S.B." appear in the name) |
Office of Thrift Supervision, Consumer Complaints, Washington, DC 20552
1-800-842-6929
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| Federal credit unions (words "Federal Credit Union" appear in the name) |
National Credit Union Administration, 1775 Duke St, Alexandria, VA 22314
1-703-519-4600
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| State chartered banks that are not members of the Federal Reserve System |
Federal Deposit Insurance Corp, Consumer Response Center, 2345 Grand Ave, Suite 100, Kansas City, MO 64108
1-877-275-3342
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| Air, surface, or rail common carriers regulated by former Civil Aeronautics Board or Interstate Commerce Commission |
Dept of Transportation, Office of Financial Management, Washington, DC 20590
1-202-366-1306
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| Activites subject to the Packers and Stockyards Act of 1921 |
Department of Agriculture, Office of Deputy Administrator, GIPSA, Washington, DC 20250
1-202-720-7051
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See Related Articles:
Updated:7/27/2005
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Written by Guest on 2005-08-16 I am inundated on a daily basis by offers of credit cards from various institutions. I have had, in the past identity theft related to credit cards used. I am totally unhappy with all of the offers or solicitations and I want to know how (other than calling each one individually) I can prevent the sometimes duplicated or tripled offers. Several times I get them from the same banks that I curently have 2 credit cards with now? Please help.
Credit Card Solicitations - How do I stop
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Re: Credit Card Solicitations - How do I
Written by jmalmberg on 2005-08-16 You need to opt-out. There are several ways of going about this but the place to start is with the Direct Marketing Association.
Go the http://www.dmaconsumers.org and follow the links for the opt-out options. You can complete the process online for $5 or you can download their form and mail it in for free. I recommend the free option.
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RE:Credit Card Solicitations - How do I
Written by cat101 on 2005-08-16 You may want to read our article on this issue "I WANT OUT"- How to Opt-Out of Most Lists Painlessly.
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Rotton System
Written by Guest on 2005-08-19 I'm lucky. I am in good shape financially. Save 30% of my income. No debt. Pay all my bills on time. My only mistake is opting out of the consumer credit trap. As a result I am offered poor rates for car insurance and had to battle for a poor rate for a car loan ( that I could have purchased for cash). My bank was uninterested in the fact that my accounts with them had more cash than I asked to borrow or that I have a steady good income and no debt because ... I have no credit score! (A good protection against ID theft actually.)
The point is financially responsible behavior counts for NOTHING if the credit card companies aren't making money off you. This is infuriating - why is a system so biased in favor of private interests allowed to influence our lives so much? The system needs to be reformed to take into account a full range of objective factors. |
RE: Rotton System
Written by jmalmberg on 2005-08-19 Yes, you are correct. The sad thing is that the old system of granting credit (prior to their just being three respositories and prior to credit scoring) would have welcomed your business.
It doesn't sound like you have any credit cards. If you do have credit cards, but pay them off at the end of every month, creditors have a name for you. They refer to people who do this as "dead beats".
You are correct. They system is rotten. At ACCESS we are trying to do something about this issue. If you want to stay informed about what we're doing, please sign up for our newsletter by registering with the site. It'll take you about ten seconds, its free, and we never share or sell data (unlike the credit card companies). |
can i call harrasement and discriminatio
Written by Guest on 2005-09-26 an action conducted by one of my cc.comp...???i have received calls and letters where they specify that my info s are not clear and i need to send them my bank account,last 3 months statement,my pay stubs,and my income on last 2 years...if not they will close my account.so..first they are aloud to do that??2-i just moved recently ,i bought a house,its a lot of pressure w that" i got a loan...no???then i always pays my bill on time,im trying to keep everything w no debt,i spent most of my time working..16 hours aday.....i dont have time to take care of this calls....plenty msgs what should i do???they threatning me they will affect my credit report!!!sorry about my spelling....respectfully...beatrice |
Re: Can I call harrasement & discriminat
Written by jmalmberg on 2005-09-26 Beatrice,
First , please register with us when you get a minute. It makes it a lot easier for us to respond to you
Based on the fact that they are requesting bank account information, I suspect that you are being targeted by Phishers (scam artists). Your credit card company doesn't need this information, and a legitimate credit card company wouldn't request it.
Are you absolutely sure that it is your credit card company calling you and not some scam artist? The easies way for you to find out is to pull out your credit card and make sure that the phone number left on your answering machine is identical to the number on the back of your credit card.
If the phone numbers are the same, I would call them and just ask why they have been calling you. If they are not the same, I would still call the number on the back of your card and let them know about the calls you are receiving.
Hope this helps.
Jim
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original documents
Written by Guest on 2005-09-26 I think I read that if you dispute the info a creditor is using you can request the originating document, not copies and they must provide that proof to you. If they can't you can request that the existing info be deleted. Is this true? |
RE: Original Documents
Written by cat101 on 2005-09-27 No, that is not true. |
Intrest Charge
Written by Guest on 2005-10-12 Does a credit card agency have the right to charge intrest on a 0 balance for the following month, because intrest accumulated from the prevous month? Ex: If I was charged .80 for a remaining balance for the month of August but 0 the balance in Sept Does the bank have the right to charge me additional intrest charge in Oct. |
Re: Interest Charge
Written by jmalmberg on 2005-10-12 If you pay the balance off every month, and you always pay within the card "grace period", then the answer is "no".
Unfortunately, many cards have reduced or even eliminated their payment "grace periods". If you have no grace period, or if you have not been paying your bill in full, then your bill will show the amount due on the date that the bill was issued. By the time you receive and pay the bill, more interest has acrued. This means that if you pay the bill in full, as shown on the bill, you will still owe money.
Your best bet is to call the credit card company and ask them what you need to pay for the entire amount to be paid off. Figure that it will take a few days for the payment to reach the card company.
Also, you should be aware that paying off a credit card in full may hurt your credit score. You are much better off having a SMALL balance and making minimum payments. As odd as this may seem, credit card companies refer to people that pay off their bills every month as "dead beats". |
RE: Interest Charge
Written by cat101 on 2005-10-12 Technically, credit cards aren't suppose to add interest to interest, but I believe that some of them do (via their fees). They also have minimum interest charges. Like if your balance is $1.00, they will charge $1.00 in interest.
Jim, correct, best to call the bank to get a pay-off. As for how long that quote is for - usually it's a week. But if it's a bank where you live it maybe shorter.
There are a lot of factors in understand this stupid "credit scoring" system.
Jim's correct, having a zero balance on a credit card may hurt your point score, but timing is everything. Most credit cards are not paid off on the very day that they (the credit card companies) make their files that are sent to the CRA's. And they only make their files once a month, so I wouldn't worry about that.
The thing you DO NOT want to do is close the account. That one action will lower your point score for months.
As for your question, if your balance is 0 in September, there shouldn't be any interest in October. UNLESS, the company charges a monthly fee. If they do, then you may have no option but to close the account.
We have numerous suggestions on how to handle these situations on our site.
Please private message us, via "Contact Us" area, if you have additional questions on this issue. |
can a credit card company raise you inte
Written by Guest on 2005-10-26 I have a very good friend that is not working and her home bills are behind because she perfer to pay the credit card first and home bills later. She owe 7,000 dallors and never been late or mist a payment. But know that credit card company raised her percentage to about 24 percent with out any new agreement and all because her home bill are late. can they do this. |
Re: Can a credit card company raise your
Written by jmalmberg on 2005-10-27 Please register with our site.
The short answer to your question is, "Yes, they can raise her interest rate for being late on other bills" .
This is one good reason to make sure that all of your bills, including utilities, rent, even your newspaper bill are all paid on time.
This is a good example of how data sharing - the sharing of personal information through credit reports and other sources - hurts people. |
hospital bill
Written by Guest on 2005-10-28 I owe a hospital 2400.00 and pay them 50.00 a month. They just sent me a letter saying they will continue to accept my payment but the amount has to be 207.78 a month. Also they want me sign an agreement to this and that I will pay all legal fees for them to collect. I can't pay more than 50.00 a month. Can they do this after accepting my payments for more than a year? |
RE:hospital bill
Written by cat101 on 2005-10-31 First, please register with our site. By doing that we are able to better personalize our responses.
Second, most states recognize an "implied contract." Implied contracts usually occur after 3 months of accepting a certain amount each month for the debt. There are additional factors that also come into play -- such as the amount is sent at the same time each month, etc.
Third, if you are only able to pay $50/mth have you inquiried about "charity write-offs." It is something worth to checking into. |
New law in 2006 states 4% of credit card
Written by Guest on 2005-11-12 Is it true that a new law beginning in 2006 requires a minimum monthly payment will be 4% of the credit card balance? I was called by a vendor to prepare for this by refinancing my house, therefore, consolidating all my credit card bills. Is this an accurate statement about each month's minimum payment will equal 4% of the balance on each credit card account.
Thanks,
Ms. Jones |
RE: 4% minimum payment
Written by cat101 on 2005-11-14 You are correct, but this is not a new law it is a banking regulation. They did this to prevent a law from being created.
Under current 2% minimums, it is taking individuals 20+ years to payoff high balances on short term debt.
With the new 4% minimum it should take less than 5 years.
It is a double edge sword. |
Is a collection agency required to prove
Written by Guest on 2005-11-18 I have been contacted by a collection agency. The assure me that the debt they are collecting is mine. I am recently divorced my spouse said she has not used the card in 5 years and neither have I. I thought it was paid off, havent got a bill to my to my knowledge in 5 years, now they say I owe them money. How can I ensure the debt is correct and mine. The card was in my name and I assume I am responsible for debts from my spouse, but I still would like to confirm they are mine and my card has not been compromised
Thanks for your help. |
Re: Is a collection angency required to
Written by jmalmberg on 2005-11-18 First, please register with our site as it assists us in responding to your questions.
Companies regularly buy and sell debts. Unfortunately, this means that if a debt was sold in error, the collection agency may not have any way of knowing this. You should also know that while most collection agencies are just trying to make an honest living, there are a number of them that far less than honest, so it pays to do a little homework.
If you don't think you owe the money, the first thing that I would do is call the credit card company and ask them if they have any record of a past due debt for your credit card? If they show that your card is paid off, ask them to send this information to you in writing. Then send a copy of whatever you receive to the collection agency, along with a note that says you don't owe the money and that they should not contact you any more. Send this letter certified mail, return receipt.
On the other hand, if the credit card company does show that you owe a debt, find out when and where the debt was incurred and talk with your ex-wife. What you need to determine is if the debt is yours, or if the card number was stolen. If it was your debt, pay the bill and get the matter behind you. If not, you should file a police report and then send a copy to the credit card company. They will probably reverse the entire charge. You will also need to contact Experian, Equifax and Trans Union as the matter is probably now on your credit report.
If you file a police report, I would suggest getting your ex-wife to go with you and sign it too. This will make it a lot more difficult for anyone to say that the debt was hers.
A word of advise here. If the credit card account is still open, and both you and your ex-wife are still authorized to sign on it, you need to notify the credit card company of your divorce. If your account is in good standing, they should open a new account in your name, and another in your wifes name. If it is not in good standing as a result of this, see if you can get them to place some sort of a hold on the account until this matter is cleared up. If you can avoid it, you don't want to cancel the card as this will negatively impact your credit rating. However, it is a very bad idea to keep the account open if you are responsible for the bill, but your ex can still sign on it. It will mean that you are always at risk for this type of occurence.
One more thing that you should do here. Get the name of the collection agency and do a little research on them. Go to RipOffReport.com and do a search on them. If you don't find anything there, go to Google and search them there using "The name of the company" in quotes and the word "complaints" (without the quotes). See what you get.
If you find no, or very few complaints, then they are probably a legitimate agency. If you find a lot of complaints, read them to see what others are talking about. If you think you are being scammed, then check with your state to see if the collection agency is licensed to operate within the state. You should also file complaints with both the FTC and your State Attorney General's office (only if you are sure that this is a scam).
Hope this helps. |
Precondition Underwriting of credit
Written by Guest on 2005-11-29 Mortgage company in a refinance situation wants me to pay off either before closing or out of closing funds disputed debts that are over three years old and would not be legally enforceable due to statute of limitations defenses (1991). Can this be done? What recourse or response? (I did register but have not rec'd e-mail with password. thanks) Username: Gene. |
Due dates v. Posting Dates
Written by Guest on 2005-12-03 Is it legal for a credit card company to say that they give you a 20 day grace period between closure and due date, but then say that they do NOT post your payment until 48 hours after they receive it? For example, the due date is Dec. 4. If they receive my payment Dec. 3, they will have the money in hand (electronic transfer via the bank) but will not post my payment until Dec. 5, thus making my payment late and charging me a finance charge for the 1 day, even though the money is in their accounts Dec. 3. Thus, this seems to me that there is not really a 20 day grace period, but an 18 day grace. And it seems illegal for them to hold my money for two days and say they have not received payment even though they have. |
re:Due dates v. Posting Dates
Written by cat101 on 2005-12-05 There was a rash of class action suit regarding holding or delayed postings in 2000, 2001. I believe one was against Chase. I'm not certain how these ended, but it is worth contacting an attorney over it. You might want to post it on www.naca.net. This is a group of 1000 attorneys that work with consumer problems. |
being sued
Written by Guest on 2005-12-14 I divorced by husband in 1996...and got back with him (not married) He had outstanding credit which I do not...I declared bk in 97...I used his credit card and charged around $8,000 ...we went to an attorney and got the balance put in an account in my name...his acct was cleared...now they are threatening to sue me for $14,000...I haven't been able to pay this bill....should I let them seek judgement? I don't own anything...not even a car....I do have a job but still have trouble making ends meet....I was diag with bi-polar in 2001 after I ran up the charge cards....I just need some advice....should I contact my attorney again regarding this?
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being sued
Written by Guest on 2005-12-14 I live in Pa...I know they can't garnish my wages...should I let a judge decide what I pay them? I really do want to pay them but I don't think they would accept $20-$40 a month...
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Re: Being Sued
Written by jmalmberg on 2005-12-14 First, please register with our site as it makes responding to you much easier.
It doesn't sound like they have filed a law suit against you yet. You should try to work out a payment plan with the creditor. If you can't do that, then I would talk to your attorney and see if he can work something out.
Just the fact that you have an attorney talk to them may make the creditor thing twice about filing suit. Their goal is to get paid, not spend a lot of money in legal fees.
With that said, there is absolutely no guarentee that if this goes to court a judge would order you to pay only what you think you can afford. The climate in the courts right now is not consumer friendly. In fact, the new federal bankruptcy law specifically states that the ability of a consumer to pay a particular bill can not be taken into account. Therefore, I would try to head this thing off now, rather than count on a judge to impose a payment plan on you. |
Written by cat101 on 2005-12-15 I'm surprised that PA Statutes doesn't allow a creditor to garnish wages. But I bet they can garnish bank accounts, place liens on assets, attach savings accounts, replevin items purchased, etc. I would doubt that any creditor who is owe 14K would allow $20-$40/mth payments, that amount doesn't even cover the interest. I'm not certain, but mental facility (bi-polar) maybe a defense - but that is a question for the attorney. It also may of been diagnosed too late..but worth asking your attorney.
I hope that you have your spending problem in check, if you don't check our ACTION CENTER, weblinks for Debtors Anonymous (under Self Help.) |
got an answer?
Written by gderk29 on 2005-12-16 3 Years ago a lawyer in Tulsa, OK Filed bankruptcy for a client and used my SSN # instaed of the clients. He sent me court papers he filed stating I never filed for bankruptcy yet a account on my report still shows that I filed for Bankruptcy. I sent the court papers to the account and they sent me a letter stating that it would be corrected. 3 years later it is still on my report. I have filed disputes with all 3 agencies and even sought help from pre-paid legal. Still there are comments on my report that I filed for bankruptcy. So I have done everything I can think of to resolve this problem but have had no luck what so ever. WHAT DO I DO NOW. Should I get a lawyer.? |
RE:got an answer?
Written by cat101 on 2005-12-19 You need to take a few more steps before paying money to an attorney.
1. First, dispute the trade with the national CRA's. Do this by snail mail & send them the documents that you have.
You maybe able to stop there. They maybe able to get it resolved.
2. If that doesn't work, file a complaint against BOTH the CRA and the account holder with your state attorney general. That should end the problem.
No matter what, credit reporting problems tend to creep back onto reports. Be certain to keep all your papers for future reference when needed. |
15 year old debt
Written by williebarge on 2005-12-25 can a credited card come bac to you 15 years later say you owe them they sold my account to another company then that company sold it to another company i have a letter from each one saying they sold it the last company i have a letter saying the count was paid in full is that good |
Re: 15 Year Old Debt
Written by jmalmberg on 2005-12-27 Ok, let me make sure that I understand this.
The debt is 15 years old, and you have evidence that it was paid in full. Is that correct?
If so, I would supply the collection agency with a copy of the letter. If you also have the cancelled check that shows that the debt is paid off, make a copy of it and send it along with the letter.
If the debt is unpaid, collection agents are still entitled to purchase and sell it as they see fit. |
i had a call
Written by williebarge on 2006-01-02 can a credit card company come back from 15 years and say you old them in my paper it show i paid them |
RE: I had a call
Written by cat101 on 2006-01-03 They can certainly call. But just show them the paper & if they don't stop calling file a complaint with your state Attorney General. |
info
Written by Guest on 2006-01-21 I am live in texas and I wont to know the law on credit card dets not payed |
Re: Info
Written by jmalmberg on 2006-01-23 First, please register with our site.
As far as your question is concerned, I need more information to give you a response. Please give some specifics about what you need to know. |
punitive finance charges during negotiat
Written by Guest on 2006-01-26 Can a retailer add extremely high punitive finance charges to my credit care during a time when I am protesting the charges and am trying to negotiate with the retailer? This happened to me, and I had to pay $428 for a $202 set of tires. Was the retailer acting legally? |
phone call
Written by Guest on 2006-01-26 I have a credit card companey or someon that has been calling me about I thank someone that mite be kenn to me and I have told then time after time there is no one here by that name but they still call me time after time.
What can I do about it?
singed mad |
RE: punitive finance charges during nego
Written by cat101 on 2006-01-27 What?
The retailer arbitrarily added additional charges/transactions to you credit card? What does you credit card company say about this? Did you dispute the charges?
Which retailer are we talking about? |
RE: phone call
Written by cat101 on 2006-01-27 Unless you remove your phone you can't stop people from calling.
Do you believe these to be collection calls? calls from a creditor? Or are they merely someone trying to find someone else? |
How Many Times a day can a creditor call
Written by Guest on 2006-01-29 Please tell me how many times a day a credit card company may call your home? They call my house all day long about 12-20 times a day then if I do answer they become rude and unhelpful. What are my rights if any? |
How Many Times a day can a creditor call
Written by jmalmberg on 2006-01-30 Please register with our site.
Is it the original creditor or a debt collector?
If its a debt collector, 12 to 20 calls a day certainly qualifies as harassment. Collection agencies need to tell you who they are and why they are calling. They can't threaten you by saying they are filing a law suit against you, unless they actually intend to.
You can get collection agencies to stop calling you by sending them a certified letter, return receipt required, telling them to stop contacting you. This will not make your debt go away but it should stop the calls.
On the other hand, if its the original creditor that is calling you, then they are not covered by the Fair Debt Collection Practices Act. They can call you all that they want to. |
re:How Many Times a day can a creditor c
Written by cat101 on 2006-01-31 There are no laws governing what original creditor can do.
But twenty years ago, there were no laws governing what third party collectors could do.
I'd file a complaint with your state attorney general. |
can they really sue me??
Written by Guest on 2006-02-14 I owe a collection agency about $500 for an emergeny room bill from two years ago. I already paid $400 of it. Now they're talking about sueing me. I heard it was illegal to threaten to sue if you paid some of the bill. Is this correct? |
Re: can they really sue me??
Written by jmalmberg on 2006-02-14 You heard wrong. They can sue you until the bill is paid. How much are they saying your owe, including all interest and any penalty charges?
They probably won't sue if the amount owed is small. But if it is a larger dollar amount, they may. |
RE Info
Written by cat101 on 2006-02-14 Regarding unpaid credit card debt & Texas statutes. Credit cards are governed by the state where the credit card company is incorporated, not the state in which you reside.
Most states adoption of Universal Commerical Codes allow for "out of state" banks to do this. Like interest rates they can charge, fees, etc.
However, state law governs what a creditor can do to recover debt - ie garnishment rules, liens, replevins, etc.
Our "Guard My Credit Links" under "Consumer Credit Laws" provides a portal to Cornell's Law site. Where you can research laws particular to Texas. |
private business in Washington State
Written by Guest on 2006-03-29 Can a person who shoplifts from a business be sent to the 3 credit reporting agencies if they have not paid their civil demand? |
RE: private business in Washington State
Written by jmalmberg on 2006-03-29 Are you talking about a court ordered fine or payment? The answer is "yes". |
RE: private business in Washington
Written by cat101 on 2006-03-30 However, that usually only occurs when the county turns the fines/fees over to a collection agency. |
I disputedcertain items on my credit rep
Written by Guest on 2006-04-13 sent a letter certified me to each of the 3 major credit buereus and have not received any response. What do I do now? |
RE: Disputes on credit report
Written by cat101 on 2006-04-18 The CRA's have up to 30 days to respond to your request from the date that they receive it. |
credit cards
Written by Guest on 2006-05-04 Can a creditor call your house every 10 min from 9 am to 9pm, I had a credit insurance on the card that they said if I took it and got hurt and was going to be out of work for a long time that it would pick up and pay it, when I got hurt and no longer could work they did not pay instaed told me because I was self employed I am not intitled to it and think that they were paying it for 6 month and finding this out 6 months later and the creditor charging me every month late charges on 100.00 has brought it up to oweing them almost 600.00 now and they keep calling every 10 min. from 8 AM to 9 PM, even though I pay them what I can afford now not working 20.00 a month what I am asking can they keep heressing me over the phone? |
Re: Credit Cards
Written by jmalmberg on 2006-05-04 First, please register with our site as it assists us in responding to questions.
The answer to your question is, "it depends."
If its a collection agency, then calling every ten minutes is considered harrasment. You can stop all of the calls by sending them a letter (send it certified mail, return receipt). This doesn't absolve you of the debt, or protect your credit but it will stop the calls.
On the other hand, if the calls are actually coming to you from whomever it is that you owe the money to, then they can call you as often as they like. Your best bet is to work out a payment plan with them and then stick to it.. |
credit cards
Written by Guest on 2006-05-04 i am from texas, can a creditor sue me for the unpaid credit cards, which i havent been paying for the last year? |
Re: Credit Cards
Written by jmalmberg on 2006-05-04 Please register with our site.
In answer to your question. Yes, you can be sued for non-payment. |
Re: Credit Cards
Written by cat101 on 2006-05-05 First - I know of one individual that sued the insurance company when they failed to payout..same situation "self-employed." I know -- it's in the fine print. It went all the way to trial & he won. If you PM us I may try to be able to find the court title. It maybe worth getting an attorney..
Second - In the beginning of time, there was no Fair Debt Collection Practices Act, and third party collectors were abusive -- back then the creditors wouldn't dream of abusing their customers.
Now things have changed, despite abuse, individual's continue to flock to these creditors. So what to do -- file a complaint with your State Attorney General. They are watching these creditors & if there are enough complaints they may enact laws to prevent it. But until there are laws, the AG still carries a lot of weight within a state... |
settlement
Written by Guest on 2006-05-19 Hi
I am looking into debt consolidation or settlement. Is that a wise choice? If so, what program I can consider or you can recommend me too?
Thanks, your reply is always so great
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RE: settlement
Written by cat101 on 2006-05-23 I would visit with a personal banker to see what they offer. Regretfully, there is NO debt consolidation service we would recommend.
Remember, there is also credit unions too. |
Loans
Written by Guest on 2006-06-05 If a loan has been paid on and they have not reported so , as the bill shows owing 3000. and the credit report shows 5000. what can be done? |
RE: Loans
Written by cat101 on 2006-06-05 File a dispute with the CRA that is reporting it wrong.
It is also possible that the company is having problems with their downloads to the CRA. You will want to review what the verified date is ...that is the last time they downloaded to the CRA.
Either way...dispute it. |
Happy with credit counseling
Written by Guest on 2006-06-17 In response to comment titled "settlement" I would like to say that my credit card debt is handled by Cambridge Credit Counseling Corporation in Agawam, MA.
I make one payment to them each month and they pay my creditors. They negotiated with each creditor to remove penalty fees from the date of my last payment in good standing to the present, were able to get my interest rates significantly reduced to 15% and as low as 8% APR., agree on a reasonable payment amount that would allow full payment to be acheived in 5 years.
I have been paying a fixed rate since Nov., 2005. $559.00/mo. for a $25,000.00 credit card debt of which nearly half is cash advance. Now its June, 2006 and I am seeing my balances go down quickly.
I was informed that, by using this consumer credit counseling agency, my debt will be paid off by Oct, 2010 and it will have cost me $10,000.00 interest vs. $70,000.00 interest (over many more years) if the same amount of money were divied-up and sent to each creditor myself.
I am happy with CCCC. Each creditor (including aggressive collectors such as Chase and Discover) are supportive of this method and I am told that this will not affect my ability to continue my relationship with them when the debts are settled.
You say that there is no debt consolidation service that you would recommend. Do you feel the same about credit counceling (are they the same thing?) Anyway, I could never find them online, but I had a positive experience with them 6 years earlier (for a much smaller debt) so I had their phone number. Last time I even recieved a refund of extra money left from the withdrawal for the last payments were made. I have since gotten credit with the same companies at 9-12% interest. I hope I am not missing something that will come back to haunt me later... I thought it was worth sharing this info if it can help someone, or if it can validate my opinion of this agency.
By the way, the first time I used CCCC was for the financial strain I had from a divorce. This time it was due to accepting a position for a company who decided to file bankruptcy and stopped payment on checks they gave me for wages and reimbursement of lots of business expenses I covered. (Big mistake, I know) They caused a chain of financial trouble for me and were able to wash their hands clean of all that they owe me.. Plus, I know now that their bankruptcy was fraudulent. They barely made the deadline for the old laws, making it impossible for me to file for bankruptcy because the laws changed right before I found out. So the crooks get all the relief from financial burden and get to keep their luxury home and cars and boat. I live near poverty level while trying get back on my feet and I just completed a post-graduate program and am in the process of obtaining certification to work in my trained field. That job was to get me through the dry period and look where it got me. They caused me tremendous damage for which there is now no relief of that kind anymore. Ironic, right? I am trying to pay all of my debts and trying to find out where to go and how best to report the injustice I have suffered AND report their fraud.
One more note, American Express contributed to my trouble through their bad business practices and wouldn't you know, American Express is the only creditor that is not willing to cooperate with me. They won't let me consolidate or use a credit counseling agent, PLUS they use Allied Interstate, Inc. as their collection agency. Allied is routinely in violation of the Fair Credit Reporting Act and their agents are untrained, abusive and ignorant. SBC/AT&T also use Allied and are also aggresive in their collection practices. KWCA.
P.S. I registered yesterday. I'm still waiting for my email containing my password so I can log-in. I don't know why I don't get an email from you. My user name is KWCA. Thx kw. |
CREDIT CARD SUED "CITATION"
Written by Guest on 2006-06-25 WHAT WOULD HAPPEN IF I DON'T GO TO THE COURT ON THE 20TH DAY? |
RE: Credit Card Sued "Citation"
Written by Guest on 2006-06-26 First, please register with our site.
I'm not sure that I understand your question. Are you saying that you have been properly served with a law suit and are considering not going to court?
If so, that is a bad move. I will likely mean that the judge will issue a judgement in favor of whomever filed the suit against you. |
joint account
Written by Guest on 2006-07-12 Twelve years ago a friend and I signed up for a dept. store credit card. I gave her the money to pay off a $1200 balance when we separated (12 years). She never did. I recently got my credit report and noticed the outstanding balance. I have not spoken to her since 12 years ago. Can I get out of this joint account with her? |
joint account
Written by Guest on 2006-07-12 Twelve years ago a friend and I signed up for a dept. store credit card. I gave her the money to pay off a $1200 balance when we separated (12 years). She never did. I recently got my credit report and noticed the outstanding balance. I have not spoken to her since 12 years ago. Can I get out of this joint account with her? |
Re: Joint Account
Written by jmalmberg on 2006-07-12 First, please register with us as it assists us in responding.
A 12 year old debt shouldn't be appearing on your credit report. What is the date they are showing on the deliquency?
What may have happened here is that she continued to use the card. If she stopped paying the bill within the last seven years, then it could very well show up on your credit report.
Since it is a joint account, you are liable for the debt. Is the account still open? If so, you need to contact the company that the account is with and cancel it. |
second mortgage on house
Written by Guest on 2006-07-14 i had a second mortgage on the house for pudrchasing windows. i had foreclosure on lthe house but they did not pay the second mortgage. the company took out a judgement and has continued to call and harass me. I am not employed and have advised them i am not. whatelse can they do? |
RE: second mortgage
Written by cat101 on 2006-07-14 Regretfully, there is no obligation of the first mortgage holder to pay the second holder when they foreclose. In fact, the foreclosure may not even satisfy the first mortgage holder in full & they too could be calling for the balance due. (It sounds like the first got their money)
As for what they could do, they could sue & possibly attach other assets if they get a judgment (like car, bank acct, etc)
Or they could eventually forgive the debt and send you a 1099, where you have to pay taxes -- it's considered income.
Or, since they are the original creditor they can choose to continually call you.
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suing
Written by Guest on 2006-07-28 A collection agency has been contacting me about a seven year old debt. Can they file a civil suit, or put this previous debt on my credit report? |
RE: Suing
Written by cat101 on 2006-07-28 Where do you live & what kind of debt? |
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Credit Issues 
