Quote:
Originally Posted by Qtip
Please note that this account is subject to be reported to the credit bureaus after 30 days if payment ins not received.
Translated it means tat they are notifiying me that this debt can be reported to the credit bureau if payment is not received within th 30 day term.
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I'm going to disagree with Enigma. IMHO, this is a CYA because of the new FACTA laws that require notice by financial institutions to advise you before placing negative information on your reports. They CAN report the account to the bureaus on Day One if they choose. I don't believe this is overshadowing. They can say NOTHING about when they are going to report to the CB's and be within the law.
Is this your first notice? Are there not validation notices on the letter? If the statutory notices are missing, and this is their first communication, and you don't receive the validation notices within 5 days, that's your violation.