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FACTA - Don't Report Negative Information on Loans

Answered by: 

Question: 
If we do not report any negative information for loans or credit cards what parts of FACTA are important for us to comply with?
Answer: 

If you report your loans to any of the Credit Reporting Agencies, how can you not have the potential to be reporting negative information? If you report one payment times 30 days late you have reported negative information.

First published on 05/16/2005

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