Legal Question in Credit and Debt Law in California
Credit and the Federal Trade Commission Laws
Are there seven steps a company must take before reporting your negative account to a credit bureau? And must the company or credit bureau report the exact amount of your open account on your credit report
Asked on 7/27/01, 6:24 pm
1 Answer from Attorneys
C. David DuMond
Law Offices of David DuMond
Re: Credit and the Federal Trade Commission Laws
No, there are no formal steps required before an account is reported. Neither must the account be reported in precisely the amount owed. This is off your topic, except that you must think in terms of seven, but I suggest you find and read the book Seven Laws of Money.
Answered on 7/28/01, 1:38 am
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