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Frequent Contributor
750orbust
Posts: 256
Registered: ‎03-06-2013

ARE YOU FREAKING KIDDING ME?!!!

So I'm used to the big " NO!" From creditors when begging and pleading with them to delete negative information from your CR's but today I call an old loan shark business I used to be trapped in and requested that they delete my MANY MANY consumer finance loans I've had with them over the past several years (all of which are in perfect standing, closed and never had a single late payment) only to have the guy tell me that he can't remove them. Uh, hello??? I'm asking you to remove positive information not negative. He asked me why I want him to do this since nothing is negative and I explained to him that the FICO scoring model sees all those consumer finance loans as a desperate attempt for credit which indicates and also indicates that I was unable to obtain a conventional loan. Nevertheless he refused and gave me the same old bit the collection agencies always spout "we are required to report accurate information" blah blah blah. I explained to him politely that although they are required to report "accurate" information per the FCRA, nothing in the FCRA requires them to report at all. So apparently this went through one ear and out the other. To wrap it up, I explained to him since he is unwilling to delete positive information from a VERY good customer at my request, I would no longer ever consider doing business with them again and needed the call.

Apparently I'm in the wrong business. I would be doing everything in my power to make a good customer happy but I guess their business is booming so much that they don't need to worry about losing any.

That's my rant for the day......
New Contributor
aces33
Posts: 84
Registered: ‎04-01-2013

Re: ARE YOU FREAKING KIDDING ME?!!!

Shouldnt tell them to delete it. It's not legal and apparently they get in trouble for it. However it's not against FTC rules for them just not to report it. That's what i asked Sallie mae to do. It's comes up on your report as not reported. No lates , no payments just - Not Reported.

New Member
CreditHammer
Posts: 120
Registered: ‎05-14-2013

Re: ARE YOU FREAKING KIDDING ME?!!!

I get where your coming from because it sucks that its on your CR at all.. but honestly they aren't going to go out of their way to help you... Think about it.. if you cant get a loan from another instituion because they are on your CR.. then where are you likely to return to? THEM! again, i see your frustration but unfortunately, they dont look like they are going to budge one bit..

Moderator
pizzadude
Posts: 8,733
Registered: ‎01-28-2010

Re: ARE YOU FREAKING KIDDING ME?!!!

 

I'm not certain that you'll gain much from deleting them -- since they are all paid on time and have no lates, you might be better off keeping them around.    They are helping your AAoA.    I don't think the FICO score ding for consumer finance is really all that significant.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Frequent Contributor
750orbust
Posts: 256
Registered: ‎03-06-2013

Re: ARE YOU FREAKING KIDDING ME?!!!

I agree its not a significant ding but its still a ding nonetheless.

I had a mortgage company pull my credit back in February just to see where I stand as far as getting a mortgage and on all the reports at the bottom of the list of their negative remarks was "to many consumer finance loans". Like I said, it was the last reason listed on all three reports therefore the least significant but still a negative indicator. Just above this reason was "length of credit history" so even if these accounts were deleted I don't think it would hurt my AAoA that much.

Either way, I'm not going to push the issue any further. I'm just happy it wasn't negative information I was trying to remove since that would be an obvious no too.

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