[Nastyedward]

I just stumbled across this site as I am getting ready to try to repair my credit. it looks very helpful but I was wondering about a few things.

1 does anyone have a list of frequently used acronyms on this site . CA i get but there are a lot of other ones I can't decipher.

2 Does anyone know where a CA gets the authority to muck up my credit report with medical co-pays that never were credit based?(meaning I never applied for credit nor signed any disclaimer stating I understood my information would be reported to a credit agency)

[LovinMykids]

Terms and acronyms
A.G. - State Attorney General

AU - Authorized User

BK7 - Chapter 7 Bankruptcy

BK13 - Chapter 13 Bankruptcy

BT- Balance Transfer.

BT- promo A BT at a promotional rate.

BTW- By the way

CA- Collection Agency

CRA's- Credit Reporting Agency

CC- Credit Card.

CCC- Credit Card Company

CCCS- Consumer Credit Counseling Services.

CRRR- Certified mail, Return Receipt Requested

CL- Credit limit.

CO- charge off

CRO- Credit Repair Organization

derog Derogatory tradeline- an item on your credit file that is negative in any way.

DH- Dear Husband

DCU- Digital Federal Credit union

DOLA- Date of Last activity

DV- Debt Validation.

EQ Equifax. Another CRA.

EXP (or EX)- Experian. Another CRA.

FCRA- Fair credit Reporting Act

FDCPA- Fair Debt Collection Practices Act

FICO score- Fair Isaac. Also known as....

FAKO- generic credit score, not a true FICO. Not used by lenders.

Hard Inquiry- Inquiry visible to others and counted in your credit score.

IMHO- In My Humble Opinion

IIB- Included in Bankruptcy

JDB- Junk Debt Buyer Buys debts for pennies on the dollar and attmepts collection.

LOC- Line of credit.

LOL- laughing out loud

OC- original creditor

O- T Off Topic

PITA- Pain In the ASS

PG- Privacy Guard Provider of Online credit reports.

PFD- Pay For Delete. Offer of payment in exchange for removing negatives.

PIF- Pay In Full

PP- Permissible Purpose

ROFLMAO!- (rolling on the floor laughing my ass off)

Soft Inquiry- inquiry not seen by others and not counted in your score

SOL- Statute of Limitation: statutorily set maximum time periods during which lawsuits can be brought to enforce rights. After the time period set out in the applicable statute of limitations has run (expired), no legal action can be brought.

Tradeline- An entry in your credit history.

TU- Transunion A CRA.

[Pale Rider]

AR = Account Review
BK = Bankruptcy
BUMP = Asking someone to take another look at your post
CD = Cease and Desist Letter
CHOD = Creditnet Holiday Onslaught of Disputes
CRA = Credit Reporting Agency (TU, EQ, EX)
CREXP = Credit Expert
FCBA = Fair Credit Billing Act
Green Card = CRRR Card that is returned to sender
ITS = Intent To Sue
JD = Judicial District of a court in a given area
PG = Privacy Guard
POS = Point of sale. Place and time you made a transaction
PR = Procedural Request

[centex]

FOAD- reference made to the post-SOL full cease-and-desist (C&D) letter wherein you basically tell the other party to F*ck Off and Die.

[Qtip]

Acronyms are listed here also;

Terms and acronyms

[Enigma]

Originally Posted by Nastyedward

2 Does anyone know where a CA gets the authority to muck up my credit report with medical co-pays that never were credit based?(meaning I never applied for credit nor signed any disclaimer stating I understood my information would be reported to a credit agency)

In general, section 604 of the FCRA.

[spinn]

Originally Posted by Nastyedward

2 Does anyone know where a CA gets the authority to muck up my credit report with medical co-pays that never were credit based?(meaning I never applied for credit nor signed any disclaimer stating I understood my information would be reported to a credit agency)

You do have to watch that........as the quality of health care continues to hit new lows, DRs and labs have become increasingly parasitic, which I did not think was possible.

[Nastyedward]

thanks for all the info, I maybe alone on this one but I feel it is MY credit report and should only reflect what is in the public record or credit that I have been granted AFTER an application for credit and a written disclosure that my payment history will be reported. as it stands right now an unpaid 50 dollar copay could be reported by numerous CA's as my debt is bought and sold.

[Enigma]

Originally Posted by Nastyedward

thanks for all the info, I maybe alone on this one but I feel it is MY credit report and should only reflect what is in the public record or credit that I have been granted AFTER an application for credit and a written disclosure that my payment history will be reported. as it stands right now an unpaid 50 dollar copay could be reported by numerous CA's as my debt is bought and sold.

I'd pay the $50 to keep it from reporting.

[Nastyedward]

helpful but the amount is insignificant, it is the principle don't you think. how many different debts (utilities,copays,cable tv etc) are furnished withourt a disclosure or authorization that your pay history will (or can) be reported.

[centex]

Originally Posted by Nastyedward

helpful but the amount is insignificant, it is the principle don't you think. how many different debts (utilities,copays,cable tv etc) are furnished withourt a disclosure or authorization that your pay history will (or can) be reported.

Every time I have had to go to a provider over the past decade or so, there has been rather prominent language that the patient is responsible for payment of the fees. The processing of insurance is essentially a courtesy when everything is boiled down to its most basic level. It stands to reason in the face of such language that you are the one on the hook for anything in the way of a co-pay. All of my utilities also had language that indicated that the payment histories could be reported...while none of them have done so, I am fully aware that the possibility exists.

Further, it should go without saying that unless the fee is paid in full at the time of service, the services have been provided on a credit basis. Failure to make good, especially on such a nominal amount, should be reported as it is a red flag for other creditors to consider.

You can stand on your principles all you want, but the standing with other creditors is not worth jeopardizing for an amount less than a tank of gas. Consider also the amount relative to the time that will be wasted trying to deal with removing a legitimate debt from your reports.

Oh, and do not forget that it may hinder your ability to get elective services with other providers in your area. You may find yourself being told to pay the entire fee in advance and deal with your insurance on your own for reimbursement...

[spinn]

Centex is right.........DRs and insurance companies have basically perfected the art of taking small amounts of money from the patients they probably didnt cure.

You do need to pick your battles and pay them because not doing so will hurt you a lot more than them.

Personally, I would rather donate money to the Iranian military, or Hillary Clinton, than pay a DR.

[Pale Rider]

Originally Posted by Nastyedward

thanks for all the info, I maybe alone on this one but I feel it is MY credit report and should only reflect what is in the public record or credit that I have been granted AFTER an application for credit and a written disclosure that my payment history will be reported. as it stands right now an unpaid 50 dollar copay could be reported by numerous CA's as my debt is bought and sold.

Originally Posted by Nastyedward

helpful but the amount is insignificant, it is the principle don't you think. how many different debts (utilities,copays,cable tv etc) are furnished withourt a disclosure or authorization that your pay history will (or can) be reported.

I think most people would agree that the system is flawed, and no one likes the idea that these companies take our private info, package it, sell it for billions of dollars, then have the nerve to charge us to look at it. But they will continue doing it, and the courts will not rule against them having the right to do it.

The best solution, IMO. Learn the rules of the game inside out, and beat them at their own game. Dispute inaccurate info, optimize balances, etc. to get the best score possible. Sometimes standing for principles is wonderful. Tanking your score over $50 to prove a point just doesn't add up.

[Enigma]

Originally Posted by Nastyedward

helpful but the amount is insignificant, it is the principle don't you think. how many different debts (utilities,copays,cable tv etc) are furnished withourt a disclosure or authorization that your pay history will (or can) be reported.

The notice to which you refer is governed by Section 623(a)(7) et. seq. of the FCRA.

In part, 623(a)(7)(A)(i) states that "In general. If any financial institution that extends credit and regularly and in the ordinary course of business furnishes information to a consumer reporting agency described in section 603(p) furnishes negative information to such an agency regarding credit extended to a customer, the financial institution shall provide a notice of such furnishing of negative information, in writing, to the customer."


Further, since the statute falls under the general heading of 623(a), you have no private right of action. Therefore, if the entity whether governed by the aforementioned section or not, choses not to provide you notice of disclosure, there is nothing you can do about it.

Additionally, 623(a)(7)(B) provides that notice can be given up to thirty days after disclosure has been made to the CRA(s).

A doctors office, utility company, etc., do not meet the definition of a financial institution; they generally do not extend credit nor do they "regularly and in the course of business furnish information to a consumer agency".

[Nastyedward]

Thank you for all your comments I am in the process of contacting the CA's and trying to arrange a payment for deletion from my credit file. I completely understand the concepts and legal parameters for what is currently in practice. I guess what it comes down to for me is disclosure and authorization. Before anyone reports a non public record on my credit report there should be a meeting of the minds between us. I have been paying my utility company for over 25 years and I can guaranty you we never had a discussion about credit extension or reporting to the credit bureau, nor was there any "Prominent" disclosure at the emergency room. I fully realize I am tilting at windmills and must learn to play the game and I will but I have to admit I am in favor of a few consumer orientated rules changes.