What information/items are EX, EQ and TU required to keep in a credit file? When requesting a file pursuant to FCRA Section 609, are the CA's required to provide verifiable documentary proof?
nothing is REQUIRED to be reported
but are you talking about a consumer REPORT, or a consumer FILE? They're both defined in FCRA...
of course no one EVER gets their file as required by FCRA
I am talking about the consumer file. Are CA's required to maintain proof in their files that substantiate what they are reporting? For example, are they required to have copies of account applications, copies of documents showing when a consumer went delinquent, etc.?
When they validate during their investigation, do they just call the OC and ask what their system indicates, or do they actually look at the documentary evidence?
I am considering drafting a FCRA 609 in an attempt to get my file. Can anyone who has tried a 609 request tell me their experiences?
Thanks for all your help.
No, credit agencies are not required to have proof of anything, that is up to the creditor to have it.
Have you read the newbies section? Psycdocs seminars? Everything is explained there on how the dispute process is done. If you haven't I suggest you grab a cup of coffee, tea,soda and have a good read.
no...they aren't required to have proof...
the creditors are though...
the CRAs typcially will just transmit electronically a request for an investigation of the information being disputed by the consumer...and the "Creditor" typically just says "yep, it's accurate"...without any sort of real investigation