Utah Admin. Code R152-21-3 - Definitions
(1) "Challenge" means any act performed by a
credit services organization to dispute an entry appearing on the buyer's
credit report.
(2) "Credit report"
means any document prepared by a credit reporting agency used to demonstrate a
buyer's credit-worthiness, credit standing, or credit capacity.
(3) "Inaccurate information" means data that
includes a typographical error or similar clerical or technical fault that
creates reasonable doubt about the data's reliability.
(4) "Material error" means false or
misleading information on a buyer's credit report that could reasonably affect
a decision to extend or deny credit to the buyer.
(5) "Material omission" means information
that:
(a) should appear on a buyer's credit
report but does not; and
(b) could
reasonably affect a decision to extend or deny credit to the buyer.
(6) "Outdated information" means
information that, in accordance with state or federal law, should not appear on
the buyer's credit report because of its age.
(7) "Unverifiable information" means an entry
on a credit report that lacks supporting evidence sufficient to convince a
reasonable person that the entry is proper.
Notes
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