topic Re: Are Credit Unions subject to FCRA? in Rebuilding Your Credit

Are Credit Unions subject to FCRA?

mymy — Thu, 17 Dec 2009 08:03:12 GMT

i want to to dispute a negative item on my EQ credit report noted by Power Financial CU. I had a dormant checking account with them. and a former student loan provider issued an EFT withdra from this acccount. it was a rarely used account that went negative, because i only had a few dollars in it. and did not notice until i was sent a notice that the account had been closed. i immediately sent a money order to of cover the EFT, but stated this was an unauthorized transfer.

a few weeks later it reported as unpaid, closed account (with a balance) and negative. i want to send power financial a letter that they are in violation of FCRA qnd are reporting unfair and inaccurate information...

what do you suggest?

Re: Are Credit Unions subject to FCRA?

LIGHTNIN — Thu, 17 Dec 2009 12:28:32 GMT

If i understand it correctly, anyone reports to the CRA's is subject to FCRA.

I may have missed something, your CR states unpaid closed acct with a balance correct?

Did the CU accept the MO you sent to cover the neg balance?

Did your student loan provider fix the transfer error?

Re: Are Credit Unions subject to FCRA?

mymy — Thu, 17 Dec 2009 15:31:38 GMT

yes, the report says it is unpaid, closed and shows the balance. However, the balance it shows is actually LOWER that what i sent them with the money order. They show $263, owed on the account. The actual Money Order was for$303. But, yes they accecpted the MO I sent CMRR.

I was granted a deferment, however the student loan provider defaulted to this DORMAnT checking account that I had not used very much in the past few years.

thanks