Reply
Contributor
Posts: 127
Registered: ‎12-19-2007
0

need someone bk knowledgeable for help with fcra violation?

I'm asking this in this forum because you all are familiar with bk reporting. I tried asking over in the general forum a while ago, but no one knew too much about bk.
 
 
It seems to me that this is an fcra violation, but want some opinions.
 
BK chap 7 filed in 05, discharged in 01/06. Had a car repoed prior to bk, included debt in bk.
 
The creditor reports as a chargeoff, with 0 balance. It's the status I am concerned with, since it should be showing as IIB. (by the way, that status makes a 28 point difference in my fico, so it's rather important)
 
EX and TU filed dispute, and they fixed it to IIB. EQ, filed dispute, they fixed it, then creditor went back and verified it, changed it back to a chargeoff rather than IIB. Yes, I sent EQ a copy of the discharge, and schedules showing the creditor as IIB.
 
So, I've been sending the creditor letters for about 3 months, starting out nicely explaining to them that this debt should be reported as IIB. I've graduated to not so nicely, pointing out that the FCRA requires accurate reporting.
 
Now, it seems to me, that them knowingly reporting an IIB account as a chargeoff is an FCRA violation, especially since I've pointed it out to them multiple times. They never respond to my letters.
 
Now, I clearly see 1 violation when they changed the status on EQ back to IIB. The question here, is could this be considered multiple violations, since they obviously knew it was incorrect from my first letter? Or would this just be 1 violation, for actively re-changing the IIB status on EQ back to being a chargeoff?
 
Or, more importantly, is this not even an FCRA violation?
 
Obviously the court sent them the filing papers, then the meeting of creditors letter, then the discharge letter, so they can't exactly claim that they didn't know.
 
 
Established Contributor
Posts: 951
Registered: ‎12-04-2007
0

Re: need someone bk knowledgeable for help with fcra violation?

so they changed it to IIB and then it went back to just a regular charged off account?  What is the DOFD on the account and did that change?  (it should match your filing date)  You might have to give the original creditor a call.  I have had good luck doing that.  I know it isn't recommended but I guess we BK filer's have to create our own rules to get the creditors to post correctly. I called Cap One and ask them for "clarification".  They verified my IIB and then I ask them to report it to the bureau.  I got an alert the next day that the account had been updated.  So that might be an idea. . . others may chime in.
 
As to your violation, if you were charged off PRIOR to filing, then that is a correct reporting.  It can say "charged off" but then should have the IIB notation, with zero balance.  I have also been fighting with Wells Fargo on this but gave up.  Maybe you will have better luck.
Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
0

Re: need someone bk knowledgeable for help with fcra violation?

Even though IIB accounts are supposed to be listed as $0 balance, closed and IIB, if the account went to chargeoff BEFORE you filed BK7, then I believe they can still report that delinquency. I know they can report lates from before the BK7 filing, but not after it.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.