NY AG reaches agreement with CRA's on disputed items

[ICANHASMUNY?]

FYI: Just wanted to clarify federal vs. state law.

 

I think the medical debt reporting is a change . . . What do you think about it?

 

the Way they are going to handle medical debt is a change -

 

because of delays with insurance and billing disputes, the CRA's can't report past due medical for 180 days

 

if it is finally reported, but the Insurance co comes thru , then the collection account is deleted - which is only fair, it's not your debt it's the insurance fault, and you shouldn't have to suffer 7 years bad credit because of billing disputes - it wasn't your debt in the first place it was the insurance co's fault.

 

If, however it is your debt, it's going to be reported .

 

but they are giving you 180 days before that to pay it off first , or make arrangements and payment schedule.

 

Medical debt isn't anything that ( most of us ) go out an seek to incur -

[ICANHASMUNY?]

http://www.latimes.com/business/la-fi-lazarus-20150317-column.html

 

AS I was saying before...

 

 

The heavyweight companies that keep credit files on about 200 million U.S. consumers are patting themselves on the back for unveiling steps to improve the accuracy of their records..

This would be laudable if it weren't so laughable.

The reality is that credit-reporting firms have been required for decades to ensure the accuracy of consumers' files.

They're not doing us a favor. They're just finally saying that they'll follow the law.

"For years, the credit-reporting agencies have scoffed at the law," said Scott Maurer, a law professor at Santa Clara University. "What's different now is that someone has said they're going to enforce it."

That someone is the New York attorney general, whose investigation into the credit-reporting firms' practices since 2012 led to a settlement last week with the industry.

[GR8WhiTE]

I hope they enforce it sooner than later.

[ICANHASMUNY?]

And to think this was all started by some grocer in Tennessee.

 

 

Equifax was founded in 1898 by two brothers, Cator and Guy Woolford. Cator Woolford got his start in the credit bureau business as a grocer in Chattanooga, Tennessee.

 

He compiled a list of customers with indications of their creditworthiness, other grocers were interested, so he took their information and compiled it for the local Retail Grocers Association

 

To cover the costs of this effort, Woolford sold copies of the book to other merchants. Pleased with the success of his first listing, Woolford set out to make credit reporting his career.

 

With his brother Guy, a lawyer six years his junior, Cator settled on Atlanta as the site of his new venture. After several visits to the city, the Woolfords rented an office consisting of a single room on the fifth floor of the Gould Building, at 10 Decatur Street, and had the words "Retail Credit Company" printed on the door in large black letters. On March 22, 1899, the company opened for business.

[GR8WhiTE]

And to think this was all started by some grocer in Tennessee.

 

 

Equifax was founded in 1898 by two brothers, Cator and Guy Woolford. Cator Woolford got his start in the credit bureau business as a grocer in Chattanooga, Tennessee.

 

He compiled a list of customers with indications of their creditworthiness, other grocers were interested, so he took their information and compiled it for the local Retail Grocers Association

 

To cover the costs of this effort, Woolford sold copies of the book to other merchants. Pleased with the success of his first listing, Woolford set out to make credit reporting his career.

 

With his brother Guy, a lawyer six years his junior, Cator settled on Atlanta as the site of his new venture. After several visits to the city, the Woolfords rented an office consisting of a single room on the fifth floor of the Gould Building, at 10 Decatur Street, and had the words "Retail Credit Company" printed on the door in large black letters. On March 22, 1899, the company opened for business.

Wow that's very interesting.

 

ICAN, your opinion..

 

Do you think that B* came to an end because the enforcements are coming now? Maybe the CRA's were allowing it this whole time and now it will be worth shutting it down for them to not get hit with possible lawsuits by the States, not consumers.

[ICANHASMUNY?]

I think it's because everyone was talking about it here on CB

 

and TU lurked - I'm only surprised it took 6 1/2 years for them to implement it and close it down.

 

 

TransUnion Associate
Member Since 01 Jul 2008
Offline Last Active Jul 14 2008 11:24 AM

 

http://creditboards.com/forums/index.php?showtopic=346750&do=findComment&comment=3209450

 

 

Course, considering the source, it takes them a long time to do anything.

[GR8WhiTE]

I had read that a few weeks ago. I don't know though. Too fishy how it came so fast (from both CRA's)

[ICANHASMUNY?]

I had read that a few weeks ago. I don't know though. Too fishy how it came so fast (from both CRA's)

 

that's because there was new threads all the time on B*

[GR8WhiTE]

 

I had read that a few weeks ago. I don't know though. Too fishy how it came so fast (from both CRA's)

 

that's because there was new threads all the time on B*

 

It did get sloppy.

[ICANHASMUNY?]

^^^