Working together: credit bureaus and child support enforcement offices
Article Abstract:
The Child Support Enforcement Amendments of 1984 state that if a parent owes over $1,000 in delinquent child support, the child support office must make that information available to consumer reporting agencies. Because of contingencies in the Act, the individual states need to develop enabling legislation. Eight states are currently reporting delinquencies to credit reporting agencies. It is estimated that $4 billion is owed in delinquent child support. Before the child support office can transmit the delinquencies to a credit reporting agency, it must mail a preoffset notice to the delinquent parent. In some states child support delinquencies can be offset against the delinquent parent's state income tax return. States have the right to request offset against a debtor's federal income tax return and wages, and liens can be placed on personal and real property.
Publication Name: Credit World
Subject: Banking, finance and accounting industries
ISSN: 0011-1074
Year: 1988
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Privacy and consumer credit information
Article Abstract:
The ease in which individual credit information can be obtained through computer technology has made consumers worried about the privacy of their personal and financial histories. A survey conducted about consumer privacy shows that 78% of respondents believed that their personal privacy was at risk, while 76% say they have no control over how information about them is used by the private sector. The practice of target marketing is one specific threat to consumer privacy wherein consumer lists are sold to direct mail firms or telemarketers to enable them to find customers that meet their requirements. The law that protects consumer privacy is the Fair Credit Reporting Act which prevents the release of credit information by credit bureaus without suitable reason and imposes criminal penalties to individuals who obtain these through misrepresentation.
Publication Name: Credit World
Subject: Banking, finance and accounting industries
ISSN: 0011-1074
Year: 1993
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Child support - a new item on consumer credit reports!
Article Abstract:
The Child Support Enforcement Amendments of 1984 make child support information available to consumer reporting agencies (CRAs). Each state is required to establish procedures for providing CRAs with data on past-due child support owed by noncustodial parents. The Office of Child Support Enforcement and Associated Credit Bureaus Inc have agreed to foster cooperative implementation among CRAs and Child Support Enforcement (CSEs) agencies nationwide in order to make child support data a valued consumer credit report item. Child support obligation and payment disclosure keeps creditors better informed and helps ensure regular support for children, since absent parents are encouraged to make payments and maintain positive credit ratings.
Publication Name: Credit World
Subject: Banking, finance and accounting industries
ISSN: 0011-1074
Year: 1987
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