i want to to dispute a negative item on my EQ credit report noted by Power Financial CU. I had a dormant checking account with them. and a former student loan provider issued an EFT withdra from this acccount. it was a rarely used account that went negative, because i only had a few dollars in it. and did not notice until i was sent a notice that the account had been closed. i immediately sent a money order to of cover the EFT, but stated this was an unauthorized transfer.
a few weeks later it reported as unpaid, closed account (with a balance) and negative. i want to send power financial a letter that they are in violation of FCRA qnd are reporting unfair and inaccurate information...
what do you suggest?
If i understand it correctly, anyone reports to the CRA's is subject to FCRA.
I may have missed something, your CR states unpaid closed acct with a balance correct?
Did the CU accept the MO you sent to cover the neg balance?
Did your student loan provider fix the transfer error?
yes, the report says it is unpaid, closed and shows the balance. However, the balance it shows is actually LOWER that what i sent them with the money order. They show $263, owed on the account. The actual Money Order was for$303. But, yes they accecpted the MO I sent CMRR.
I was granted a deferment, however the student loan provider defaulted to this DORMAnT checking account that I had not used very much in the past few years.