05-19-2007 03:39 PM - edited 09-06-2007 09:36 PM
When a CRA won't do it's job by investigating and correcting or deleting inaccurate info, MOV is available to you.
With MOV, you might have to actually sue the CRA, or at least threaten it. They don't seem to freely comply with this area of the law. FCRA § 611(a)(6) and (7). 15 USC 1681i
1. Dispute with the CRA. Since you might have to sue or threaten it, a CMRRR dispute is best so there's proof you can show to a judge. If you have any written records disproving the inaccurate reporting, include them.
2. If verified, with a copy of the investigation results in hand (either mailed copy of the investigation report or printed copy of your online investigation report), call the CRA.
3. Give them the reference number and ask for method of verification under FCRA Section 611(a)(7). They might play dumb. Paper copies of EX and EQ contain a statement of your rights for MOV, at least in Washington state. You might point that out to them. YMMV.
Statement from EQ paper report- "To request the credit reporting agency to provide you with a description of the procedure used to determine the accuracy and completeness of the information disputed, including the name, business address, and telephone number of the person or business contacted during the reinvestigation"
Statement from EX paper report - "The federal Fair Credit Reporting Act states that you may request a description of how we verified the information, including the business name and address contacted and the telephone number if reasonably available"
4. The CRA will likely have never called the OC. They generally rely upon a third party database to verify. They may or may not admit this to you. Ask for the name, address and phone number of anyone contacted.
5. Call the OC and ask them about their records. If the person you speak with at the OC cannot doesn't have any records to support the inaccurate reporting, get their name and direct line. You might have to ask for a supervisor and get their name. Frontline phone reps are often "ghosts" known only by a first name. If they claim to have records, demand a copy of them under FACTA.
6. If you are sent records, review them and see whether they support the CRA's reporting. If they don't support the reporting, proceed to the next step.
7. If the OC has no records, or inconclusive records that don't support the inaccurate reporting, call the CRA and tell them the OC has no records to support their reporting. Tell the CRA you want a new dispute. The new info for the dispute is the name and number of the person at the OC with whom you spoke.
8. If they refuse to open a dispute, tell them you will sue for willful non-compliance under FCRA § 616. If they still refuse, send the information via CMRRR along with an ITS letter.
9. If they open a dispute over the phone, get the new confirmation number. Write down the confirmation number, the time & date of your call, and the name of the rep at the CRA with whom you spoke. They might also be a "ghost" and you might have to ask for a supervisor to get a name.
10. Once the investigation is complete, if the inaccurate info remains, then send an ITS letter to the CRA. Give 'em 10 days, then either file suit yourself in small claims or contact a consumer lawyer and see about filing in federal court. naca.net or myfaircredit.com are two good sources of consumer lawyers for debt and credit issues.
05-19-2007 04:24 PM - edited 05-19-2007 04:25 PM
05-19-2007 08:52 PM
05-26-2007 12:53 AM
05-26-2007 01:22 AM
05-26-2007 12:31 PM
05-27-2007 04:32 AM
07-21-2008 07:33 PM
Moved to new thread. "Disputed and verified, need help with MOV" on the Rebuilding Your Credit forum.
11-08-2011 07:22 PM
Thanks for this post, Lightin.
What is an ITS letter?
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. 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.