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Date Of Delinquency
LAWDOG is intended to assist in the understanding of basic concepts. See Disclaimer. Always obtain legal advice from legal professionals.
If a furnisher reports information concerning a delinquent account placed for collection, charged to profit or loss, or subject to any similar action, the furnisher must, within 90 days, provide the Credit Reporting Agency with the month and the year that the delinquency commenced so that the agency will know how long to keep the information in the consumer's file. See Furnishers of Information from the LAWDOG Credit Reporting Center Menu, or click here. Link does not return to this page.
Section 623.
Responsibilities of furnishers of information to consumer reporting agencies
(a) Duty of furnishers of information to provide accurate information.
(5) Duty to provide notice of delinquency of accounts. A person who furnishes information to a consumer reporting agency regarding a delinquent account being placed for collection, charged to profit or loss, or subjected to any similar action shall, not later than 90 days after furnishing the information, notify the agency of the month and year of the commencement of the delinquency that immediately preceded the action.
A copy of The Fair Credit Reporting Act, As Amended, and a copy of the FTC Official Staff Commentary to the Fair Credit Reporting Act are included under "Fair Credit Reporting Resources", available from LAWDOG Credit Reporting Center, or here. Use browser return button to return. Read Notices, Caution and Disclaimer.
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