I’m sure you’d side with me, reporting to a credit reporting
agency is a collection activity. As a
collection activity, there are duties imposed on you for reporting by both the
Fair Debt Collection Practices Act (FDCPA) and the Fair Credit Report Act (FCRA).
First the FDCPA gives debtors the right to dispute the debt,
and request verification within 30 days from notification that they are past
due. To many debt collectors in their
rush to collect, report to Credit Reporting Agencies pre-maturely.
The major reasons consumers file disputes with Credit
Reporting Agencies is that they claim to not owe the debt. If the debt is reported too early to the CRA,
there’s a much larger potential that you are not communicating with the right
party, or that the amount is incorrect. Waiting
for the 30 days, plus a bit, improves your odds that the data is correct,
belongs to the debtor, and it greatly diminishes the number of expensive
consumer disputes.
Many chose to go it alone in the credit reporting
landscape. Engaging an attorney that focuses
their practice on the collection of debt will help you avoid the many pitfalls.
If it’s time to call in the attorney’s, call the Florida
Debt Collection Attorney’s Marcadis Singer, PA.
(813) 288-1881
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