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A consumer reporting agency is an agency that collects information on certain individuals. They then sell this information to possible creditors to help them decide the credit worthiness of the individual (or whether a person should be allowed extended credit).
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What obligations are imposed upon the employer by the fair credit reporting act of 1968?
The employer must notify the applicant or the employee in writing that such a report is being sought, and in the event that the individual is denied based on the consumer report the employer must inform the individual that is the reason for the rejection and must furnish the applicant with the name and address of the consumer reporting agency that made the report.
How do you report someone to a credit agency?
Consumers don't report their own credit history to credit reporting agencies - Lenders do. However, you can file a consumer alert with each of the agencies that will put your statement on file.
What type of services does Check Systems offer?
Chex Systems is a credit reporting agency. Unlike Trans Union and Experian, who report on consumer credit, Chex Systems reports on mishandling of bank accounts.
Is chex system a credit reporting agency?
Yes it is under the FCRA
Collection acct removed but original creditor still remains?
Yes, reporting to your credit by a collections agency does not effect the reporting originally made by your creditor. It most normal cases you would see the original creditor having reporting the account as a "charge off" regardless of any reporting made by a collections agency afterwords.
What is the difference between a Consumer Reporting Agency and A Credit Reporting Agency under the guidelines of the Fair Credit Reporting Act?
there is no difference, it is the same. They were called Credit reaporting agencies several years ago, then the terms was changed to consumer reporting agencies as they are not used for more than just Credit Reporting.
How long can a consumer reporting agency report unfavorable information?
millions of years haha
How do you remove a reposession from a credit report when the reposesion was the finance company's error?
File a consumer dispute with the credit reporting agency. You can do that online as each reporting agency has it's own website.
Which federal agency is responsible for computing and reporting Consumer Price Index?
Department of National Statistics
How long may a credit reporting agency take to reply to a consumer dispute letter?
30 days from the receipt of your letter
What does the abbreviation cra mean?
CRA can stand for different things depending on the context. It could refer to the Canada Revenue Agency, Community Reinvestment Act, or Clinical Research Associate.
How long is the statute of limitations in which a consumer reporting agency conducting a background check can submit the felony after how man years can it not be reported?
There is no limit to reporting of a criminal conviction. Unless you get it expunged, it is there for life.
What type of business is Equifax?
Equifax is a US Consumer Credit Reporting Agency. Equifax is one of the three largest Credit Reporting Agencies, along with Trans Union and Experian. It is the oldest of the three companies and was founded in 1899.
What is a credit reporting agency?
A credit reporting agency (CRA) is a company that gathers and sells financial history information
What type of products does the company Chex Systems provide?
Chex Systems is a eFunds cheque verification service and consumer credit reporting agency. Chex Systems provides data related to how the consumer handled their deposit accounts.
How can you dispute outdated collections on a credit report?
If you identify information in your credit file that is incomplete or inaacurate, and report it to the consumer reporting agency, the agency must investigate unless your dipute is frivolous. See www.ftc.gov/credit for an explanation and procedures
What does consumer agency mean?
A regular consumer agency collect and sell information about the creditworthiness of individuals. A credit reporting agency doesn't make any decisions about whether a specific person should be extended credit or not. Instead, it collects information that it considers relevant to a person's credit habits and history, and uses this information to assign a credit score to indicate how creditworthy a person is.
