Re: Why Chat please help.
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Posted by LadynRed
(199.91.33.254) on May 07, 2003 at 15:58:42:
You say Ford failed to update your CR for 9 months. Ok, so give them 30 days after you paid it off to get your CR updated. That leaves 8 month of inaccurate reporting. At $1000 PER VIOLATION, one violation for each month they reported bad data, that = $8000. Then you add on damages (you couldn't get a mortgage, etc.) the number goes up even more ! FCRA says:
§ 623. Responsibilities of furnishers of information to consumer reporting agencies [15 U.S.C. § 1681s-2] (a) Duty of furnishers of information to provide accurate information. (1) Prohibition.
(A) Reporting information with actual knowledge of errors. A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or consciously avoids knowing that the information is inaccurate.
(B) Reporting information after notice and confirmation of errors. A person shall not furnish information relating to a consumer to any consumer reporting agency if
(i) the person has been notified by the consumer, at the address specified by the person for such notices, that specific information is inaccurate; and
(ii) the information is, in fact, inaccurate.
(C) No address requirement. A person who clearly and conspicuously specifies to the consumer an address for notices referred to in subparagraph (B) shall not be subject to subparagraph (A); however, nothing in subparagraph (B) shall require a person to specify such an address.
(2) Duty to correct and update information. A person who "
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