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Exeler18

Bank slip...

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I have a situation that includes a cc debt the TD bank would neither validate or go to court for resolution. Instead they corrupted my credit report and left it at that. As I understand it, in the US before you bring a defamation lawsuit against the bank, it is best to request the CRA provide documentation on this account. Legally they have 30 days to provide this information or remove the account. Can anyone tell me if this applies to Canadian rules?

Edited by Exeler18

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Well, that's not exactly how it works in the US. TD Bank is the original creditor (OC) and they do not have to validate validate - collection agencies have to validate - they are subject to the FDCPA. The original creditor has to report accurately - They are subject to the FCRA.

 

You can dispute what TD bank is reporting. You dispute it with the credit reporting agency. If it comes back verified, that means they think they are reporting accurate information. Then you would send them and FCRA dispute (623 dispute) telling them they are reporting inaccurate information. I wouldn't sue them unless it really is incorrect. They're not obligated to settle or do anything other than report accurate information.

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