Re: Re-age/two different issues?

Posted by Houdi (207.144.233.181) on June 15, 2004 at 22:45:01:

In Reply to: Re: How to find out "cause of action" states? re: Reage posted by Boadicea on June 15, 2004 at 20:09:07:

Thanks, Boadicea for your perspective and the link, and since there I found WhyChat's link to FDIC about re-aging.

"Re-age" is seeming (to me) to be two different beasts....One for the OC's and the other for the CRA's & CA's...One legal and the other Not.
FCRA rules vs. FDIC rules.
The OC (after default) can lump payments and re-age and thereby double the debt amount on slow/defaulted accounts over time, and when assigned or sold to CA's the debt grows more.

Thanks...Boadicea...your response has indeed helped decrease my learning curve.

Is Citicorp working on taking over the credit/debt world...?

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