11-17-2012 04:18 PM
11-17-2012 04:51 PM
Once deleted via a dispute it can come back via the same creditor, but the CRA has to jump through hoops to give you a heads up. It's pretty rare for it to happen. Now the creditor can continue to collect post-dispute if unpaid. Also the creditor can sell the debt and the new creditor can report. That happened to me quite a few times.
11-19-2012 10:03 AM
When you file a dispute, the party who furished the information is required to investigate the accuracy of the reporting, and either respond back to either the CRA if the dispute was filed through them, or directly to the consumer if it is a direct dispute. Their response can be either of three results:
1. They verify the accuracy of the information reported;
2. they correct the information so as to now make it accurate; or
3. they fail to either verify the accuracy of their reporting or to correct it.
If the result is outcome 3, then the disputed information (not the account) is required to be deleted as unverified.
However, failure to provide verification is not absolute. Failure to have done so within the 30'ish day dispute period mandates deletion, but the furnisher can always provide that verification or correction at a later time, and thus get the information reinserted. They may, for example, obtain information necessary to verify the accuracy after the 30'ish day dispute period has tolled, and thus be able to provide the lacking verification.
If, as a result of a dispute, the information has been deleted for lack of verification, FCRA 611(a)(5) stipulates that any reporting requesting reinsertion of that information by ANY party must first provide the lacking verification before the CRA is permitted to reinsert the information. The "additional hoop" referred to.
They must include with their reporting a "Certification of Accuracy" that now provides the lacking verification. Absent such a pre-certification, the CRA is barred from reinsertion of the previously deleted information, period.
If the furnisher provides the previously lacking verification, then the CRA can immediately reinsert the information. The FCRA mandates that if they do so, the CRA must send the consumer written notice of the reinsertion within 5 business days of their reinsertion. So the consumer will be advised that the process has been followed.
It appears that the hoop of having to provide pre-verification is not one that many furnishers wish to pursue, so deleted information is not usually reinserted.
But it certainly can be.
11-19-2012 10:17 AM
I agree with the above, but the big issue is if it is paid or not. Chance of an unpaid coming back is very slim, however if unpaid, it could easily come back under a new CA.