Easiness to report to Credit reporting agency?
I have a threat from a professional with whom I would like to dispute a charge, but he is going to report it to Credit reporting agency. Once he does it seems life becomes tough for me to get it out, I will have to go to a lawyer and fight in court. Just want to know how easy it is for this individual to report me to the credit agency + any fees associated. FTC does not ask for any proofs or anything just asks the filer if it is right. Once they say yes thats it. You got to go to an attorney. Please let me know how easy it is for him or if it is free or really cheap.
Public Comments
- First off this sounds like a threat. If you owe a business or professional (Accountant, Lawyer, Doctor, etc.) they typically don't have the ability to report directly to a Credit bureau. The only 2 ways they can do this: 1) Send your debt to a collection agency who will try and collect from you. Each state has specific laws regarding how long they have to try before they can report to bureaus. 2) The "Professional" can take you to court. If he wins he will get a Civil Judgment. That will most likely be reported to the bureaus. It is always best to negotiate a settlement/payment plan with the original lender. If you know the charge/debt is incorrect than I would let him either take you to court where you can present to the Judge your information and depending on your jurisdiction you can recieve a judgment for your costs if you win. If he takes you to collection you can ask the Collection Agency to validate the debt and they have 30 days to provide you with the pertinent info (date of debt, how much, copy of invoice, etc.) to prove their debt. That will at least buy you 30 days. If you are just being threatened and you know that the debt is invalid then send them a certified letter requesting validation(proof) of the debt. Good Luck
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