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cocosmom
Posts: 2
Registered: ‎09-03-2008
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Is it illegal for credit card co. to delete late payments from an account

Hello everyone,
 
I'm new to this board and have truly enjoyed reading the wonderful advise that people contribute.  I was just on the credit card board and someone said that they attempted to send a GW letter to an OC.  Apparently, the OC replied back saying that deleting lates pays or deliquents from their account is illegal and they're just reporting what's true and accurate.
 
Is that true about deleting late pays from someone's accounts???  I
Epic Contributor
Creditaddict
Posts: 21,004
Registered: ‎10-23-2007
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Re: Is it illegal for credit card co. to delete late payments from an account

no they just tell you it is.
Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 686 Prosper(10-30-14)
You will have to put up Electric Fence to keep me in the garden!
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New Visitor
cocosmom
Posts: 2
Registered: ‎09-03-2008
0

Re: Is it illegal for credit card co. to delete late payments from an account

Hi Creditaddict,
 
Thanks for the reply.  So I guess it's best to be persistant with the GW letters until someone gets sick of hearing from you?  LOL
 
Cocosmom
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haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007
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Re: Is it illegal for credit card co. to delete late payments from an account

The law says that it is illegal to report inaccurate information. The law does NOT say that it is illegal to not report accurate information. (There's a difference.)

Many CSR's believe it's illegal; the higher-ups know it's not. I think it's a violation of their agreements with the CRA's, though, so they don't exactly hand them out like trick-or-treat candy. Deciding to GW (or PFD) is a business decision.
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