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How Do I Report an Account That Is in Dispute?
When a consumer disputes an account, they are challenging the accuracy, completeness, or validity of the reported information. Under the Fair Credit Reporting Act (FCRA), furnishers have strict obligations to investigate disputes promptly and ensure the disputed status is reflected accurately on the credit report. Why Accurate Dispute Reporting Matters Failing to report an account…
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How Do I Report a Loan That Has Been Assumed by Another Party?
When a loan is assumed by another party, it means that the original borrower has transferred the repayment responsibility to a new borrower, with the creditor’s approval. This often happens in cases like mortgage assumptions, divorce settlements, or business loan transfers. The Fair Credit Reporting Act (FCRA) requires that this change be reported accurately, completely,…
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How Do I Report an Account That Has Been Reaffirmed in Bankruptcy?
A reaffirmed account is a debt that the consumer has chosen to continue paying, even after filing for bankruptcy, through a formal reaffirmation agreement approved by the bankruptcy court. Because reaffirmed debts are excluded from the discharge, they must be reported differently than other accounts affected by bankruptcy. Accurate reporting of reaffirmed accounts is essential…
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