Congress has recently conducted hearings on changes to certain banking regulations that could impact the liability Equifax, Experian, and TransUnion under the Fair Credit Reporting Act and other federal laws.  Some interesting quotes about the hearings: The changes, made public only last Wednesday, are providing new ammunition to critics of the banking legislation, which would...Read More

The Fair Credit Reporting Act requires Credit Reporting Agencies (i.e. Equifax, Experian, and TransUnion) requires that CRAs utilize reasonable procedures to ensure maximum possible accuracy of the information in a consumer’s report.  In connection, when a consumer disputes information on his credit report, the CRA must properly conduct a reinvestigation after the consumer disputes the accuracy...Read More

Robocalls are on the rise across the nation: These unwanted calls have become a widespread problem over the years, and they’re only getting worse. Last month, 4.1 billion robocalls were placed nationwide, according to an estimate from call-blocking service YouMail. That’s up from 2.7 billion in February. And Texas leads as the most robocalled state:...Read More

We posted yesterday on the NCLC’s debt verification letter recommendations.  Now we turn to the question of what debt collectors must provide in response to these requests for verification.  The FDCPA states: (b) Disputed debts If the consumer notifies the debt collector in writing within the thirty-day period described in subsection (a) that the debt,...Read More

The National Consumer Law Center has published a new article on stopping debt collector harassment on alleged debt claims.  It includes two useful templates for consumers wishing to either ask for verification from the debt collector or dispute the debt. As for verification: [Your name] [Your return address] [Date] [Debt collector name] [Debt collector address] Re:...Read More

The National Consumer Law Center has published a new article advising consumers on wage garnishment and bank account seizures.  This topic is especially important considering how third-party debt collectors often say or imply that they can take your money without the going through the judicial process.  As the article points out, there are only two exceptions...Read More

A mixed filed is when credit information from one person in incorrectly placed in the credit file of another person.  For instance, a person named John A. Smith living in Dallas, Texas may pull his credit report and see a debt collector reporting an eviction debt belonging to a “John Smith” living in Houston, Texas. ...Read More

Consumers are starting to sue Equifax in small claims court for the recent data breach: A librarian from Vermont took the credit-reporting agency to court shortly after the massive hack was disclosed. Jessamyn West, 49, filed suit in small claims court, arguing that the ordeal she went through from the recent death of her mother that...Read More