miz wrote:
I have contacted three collection companies who say they CANNOT remove their reporting from my credit report. Any ideas? I have all paid collections and I have had one of them say no problem, I'll remove it right away. They do NOT believe me when I say it's because THEY are reporting it that way; they say it HAS to be on my report for seven years!!!!! HELP!!!!
Did you call or write? Calling frequently leads to one talking with one of the semi-skilled gibbons who answers phones for CAs. Far better to write, Email or PFB.
As for their "we cannot remove" response, complete BS. The FCRA makes frequent use of the words accurate, complete, and their various other forms including accuracy and completeness. Many in the credit industry interpret this to mean "we cannot remove information". Malarky.
That which they report must be accurate and complete, and they often don't get that right. Balances, dates, et al. will frequently vary from one CRA to the next. If it's reported to all 3 CRAs, and it ain't the same on all 3 CRAs, then the information reported to at least one of the CRAs ain't accurate, complete or both and that's a violation. Cap 1 does not report CLs, and that would seem to violate the spirit and letter of completeness.
CRAs, CAs, and OCs aren't required to remove accurate information. However, nothing under the law prohibits them from removing accurate information. When you GW an OC or CA, you are asking them to remove accurate information. With a PFD, the OC or CA is agreeing to remove accurate information. If the OC or CA violates the law, and you send an ITS letter when you catch 'em on it, they will often agree to remove accurate information so as to avoid a lawsuit. Not always. Sometimes you have to actually file suit or take it all the way to court.
Some OCs or CAs don't report to all 3 CRAs. If the "we can't remove" nonsense were true, rather than only in the make-believe world where they are compelled to report, then they would be compelled to report to all 3 CRAs. For that matter, they would also be compelled to report to Innovis. If it fell into the area of one of the specialty CRAs, then they'd be compelled to report to them as well.
On another thread, a poster just recently posted about a car lease which had been paid ontime but was never reported to any CRA. Their answer was "we don't do that." Yeah, right. Had the poster gone into default on that lease you can be danged sure it would get reported to the CRAs.
Anyone have a rent payment or utility bill payment that doesn't get reported to the CRAs? How about a payday loan that was PIF and ontime but never reported? Go into default on one of those and see if it doesn't show up on your CRs. [That's a rhetorical statement. Don't default on your bills.] You can be sure that it will hit the CRAs and eventually, possibly, turn into a collection, a lawsuit, a judgment and a garnishment.
OCs and CAs aren't compelled to report anything. They choose to report when it suits them. Most choose to always report derogatory information. They often choose to report positive information, but less frequently than they report derogs.