7 year repo

[slg]

i only disputed it with EQ - do you think the OC would update all of the CRA's or just the one who is disputing?

[guiness56]

If you disputed it through EQ it should only be updated on EQ.  The CRAs don't talk to one another.

On the other hand, the OC could update the others as well.  Not saying they will but they could.

[slg]

alright, one last question. I am sure they placed this for collection but the CA is not reporting any tradeline on any of my reports nor have they ever. If they all of the sudden try to stick something in there do they still have to go by the 7 year reporting to the CRA's?

[RobertEG]

No, the CRAs dont share normal reporting.  The burden is on the furnisher of the information to correct with each CRA.

If you  dispute with one CRA and the creditor/debt collector resolves that dispute by updating the accuracy of the information, they are required, under FCRA 623(b)(1)(D) to also "report those results to all other consumer reporting agencies to which the person furnished the information."

It is not sufficient to simply correct with the agency handling the dispute.

[guiness56]

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@slg wrote:

alright, one last question. I am sure they placed this for collection but the CA is not reporting any tradeline on any of my reports nor have they ever. If they all of the sudden try to stick something in there do they still have to go by the 7 year reporting to the CRA's?

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Yes, they have to follow the same reporting rules.  COs and collections are 7.5 years.

[slg]

Great, so i am screwed and they are going to report to the other 2 CRA's because they have to unde rthe FCRA? im sooooo kicking myself

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@RobertEG wrote:

No, the CRAs dont share normal reporting.  The burden is on the furnisher of the information to correct with each CRA.

If you  dispute with one CRA and the creditor/debt collector resolves that dispute by updating the accuracy of the information, they are required, under FCRA 623(b)(1)(D) to also "report those results to all other consumer reporting agencies to which the person furnished the information."

It is not sufficient to simply correct with the agency handling the dispute.

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