Re: y'all won't believe this Sterling bank & trust said they wouldn't validate
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Posted by LadynRed
(126.96.36.199) on April 26, 2004 at 14:18:40:
In Reply to: Re: y'all won't believe this Sterling bank & trust said they wouldn't validate posted by unheard on April 25, 2004 at 19:25:26:
Sorry, YOU are incorrect - or you've got your FDCPA/FCRA wires crossed. VALIDATION does NOT apply to original creditors, ONLY to 3rd party debt collectors and is per the FDCPA.
Diputes thru the Credit Bureaus, per the FCRA, is VERIFICATION and it is the ONLY way to deal with an original creditor. You dispute thru the CRA, they investigate, and if they cannot VERIFY with the furnisher of information, then the CREDIT BUREAU must delete the tradeline - NOT the O.C.
FCRA = VERIFICATION
FDCPA = VALIDATION
If you're dealing with a 3rd party collector, you can do a 1-2 punch by demanding validation with the CA. Then you dispute thru the CRA. If the CA cannot/will not validate to you, but verifies to the CRA, THEN you have them in the legal crosshairs.
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