While combing through my credit reports looking for more things to dispute/remove etc... I discovered that our HELOC (through HSBC) is not reporting the same for DH and myself. In fact, the last time they updated my report was JULY 07. For DH, the last update was January 08. So our balances are nearly $30,000 off.
I tried to dispute through CRAs (balance incorrect) but was told it was verified. That verification was from when I disputed the balance (same problem) back in July.
Next, I contacted HSBC and was told the only way to have this addressed was to fax a letter (no snail mail or telephone number) to their Credit Report Dispute Dept. I did this on April 18th. I confirmed they had received the fax and was told that it would be handled within 10 days.
I have diligently checked my TrueCredit Report each day and still no update. HSBC is taking their sweet time. I can guarantee if I was 1 day past 30 days they would update immediately.
Has anybody had the same problem with HSBC?
A bit of clarification on filing a direct dispute with the OC.
Disputes sent directly to the furnisher of the information are handled under FCRA 623(a)(8) and the implementing regs at 16 CFR 660.4.
The consumer has the option to file a dispute under either the CRA process or directly with the furnisher.
You do not have to first dispute with the CRA to file a direct dispute. In fact, just the opposite is the case. Once having filed a dispute through a CRA, a furnisher can dismiss any direct dispute without any investigation as being substantially the same as a prior dispute. 16 CFR 660.4(f)(ii). One issue, one requirement for the furnishr to investigate the disputed information.
They may still investigate and respond, so I recommend sending a direct dispute, but they can dismiss it if they so choose.