When do Credit Bureaus update CR & FICO Score?

Mar 312010
 

Does anyone know when the credit bureaus update the information on your credit report?  Is it every month or only when the creditors report a change in status / balance / late pays etc?  Also how quickly are the updates seen by the consumer after the change is made on your report?  TIA

Small Business Loans

Feb 062010
 
I hope that it is not too late for the aid for small businesses. Almost daily I see businesses slashing prices, closing up and not all are small businesses. The reality is now well known that the banks are legalized loan sharks. The politicians and federal “regulators” are more corrupt and paid off than ever before. The result is people are holding on to their cash, not spending and not investing. Consumerism and debt no longer will drive the economy.  What will drive the economy now? Bailing out the banks with tax payers’ dollars and giving an additional bail out to the banks allowing them to change loan terms to charge whatever interest they choose to steal more money from the consumer decreases their ability and confidence to consume and does not seem to be the way to turn the economy around. A Country that is run by greed and corruption will fall as history has revealed.

FDCPA Questions

Jan 262010
 

I spoke to a collection agency on JANUARY 18, 2010. I understand that within five days of that initial communication, the CA is obligate to notify me of my rights of my rights as afforded to me by law, i.e.:

 

809.  Validation of debts   [15 USC 1692g]

(a) Within five days after the initial communication with a consumer in connection with the collection of any debt, a debt collector shall, unless the following information is contained in the initial communication or the consumer has paid the debt, send the consumer a written notice containing –

(1) the amount of the debt;

(2) the name of the creditor to whom the debt is owed;

(3) a statement that unless the consumer, within thirty days after receipt of the notice, disputes the validity of the debt, or any portion thereof, the debt will be assumed to be valid by the debt collector;

(4) a statement that if the consumer notifies the debt collector in writing within the thirty-day period that the debt, or any portion thereof, is disputed, the debt collector will obtain verification of the debt or a copy of a judgment against the consumer and a copy of such verification or judgment will be mailed to the consumer by the debt collector; and

(5) a statement that, upon the consumer’s written request within the thirty-day period, the debt collector will provide the consumer with the name and address of the original creditor, if different from the current creditor.

My question are the following:

 

(1) If I send them a DV on the THIRD DAY of their INITIAL COMMUNICATION, a  Cease and Desist, are they still obligated to send me a notice of my rights to dispute the debt in writing, and that upon written request, they have to send me the name and contact information of the creditor?

 

(2) If my DV letter contains a limited cease and desist provision, can they say that they are no longer obligated to provide me a DV because, I already instructed them to cease and desist from communicating with me?

 

 

 

 

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