Barclays account info reporting differently on EX

Anonymous · ‎09-04-2015

I'm in exploratory discussion with a mortgage lender to find out if I can qualify as a co-borrower for a home loan. (fingers crossed) From their review of my credit report, there are 4 items that I need to handle. One of them is a charged off CC account from Barclays.

TU and EQ show no balance, but EX shows a balance of $2,652. I haven't received any collections for this account. DOFD 1/2011. (My TU reporst says it's supposed to fall off my report 11/2017. I'd like to not have to wait though, as home ownership is a big goal of mine.)

Why is it only reporting a balance to EX and not TU or EQ?

I'm wondering how to best approach this. The mortgage lender just wants to see that the balance is zero'ed out, closed, or is paid.

What is the risk associated in contacting them for a PFD? Do you think they would be open to a reduced settlement?

Anyone have any experience in dealing with Barclays?

Thanks!

RobertEG · ‎09-04-2015

If a credtor specifically reports a $0 debt balance on a debt that you know you have not paid, that is almost assuredly their update of their account to state that they no longer own hte debt. Lack of update with one CRA is most likely simple laziness or oversight. You can contact them and request that they update with the third CRA.

If you wish confirmation of their reason, you can call them. The risk could be awakenng them to need to do somethng should the debt be near expiration of SOL

Howevr, if SOL has expired, there is little risk in calling to inquire about their current ownership status.

Kinda surprising that your lendoor would accept closed or zero baance, as neither mean the debt is discharged.

If your are sure that you only need to show a $0 balance and you know the OC has sold the debt, you can dispute and obtain that result.

Howver, the new owner could report a collection at any time, which would likely then raise the same concerns with your mortgage lendor.

If they have sold hte debt, there is no risk in contacting them.

However, if they no longer own the debt, they cannot accept any payment, so a PFD offer would be moot.

Anonymous · ‎09-05-2015

@RobertEG wrote:
If a credtor specifically reports a $0 debt balance on a debt that you know you have not paid, that is almost assuredly their update of their account to state that they no longer own hte debt. Lack of update with one CRA is most likely simple laziness or oversight. You can contact them and request that they update with the third CRA.
If you wish confirmation of their reason, you can call them. The risk could be awakenng them to need to do somethng should the debt be near expiration of SOL
Howevr, if SOL has expired, there is little risk in calling to inquire about their current ownership status.

Kinda surprising that your lendoor would accept closed or zero baance, as neither mean the debt is discharged.
If your are sure that you only need to show a $0 balance and you know the OC has sold the debt, you can dispute and obtain that result.
Howver, the new owner could report a collection at any time, which would likely then raise the same concerns with your mortgage lendor.

If they have sold hte debt, there is no risk in contacting them.
However, if they no longer own the debt, they cannot accept any payment, so a PFD offer would be moot.

Thanks RobertEG!

Fortunately this is outside of the 4 year SOL (1/2015).

So, I can call the OC and inquire about their current ownership status without triggering anything? I always get so nervous about consequences of inquiring.

Can I contact EX directly with the explaination that the balance is incorrect since the account is charged off and sold? I do wonder who owns the debt since I've never recieved any notice from a CA or do I have any collections for this on my credit report. Would contacting the OC trigger anything with the CA?

Thanks again!

Anonymous · ‎09-07-2015

So I've been looking more closely at this account across all three CRAs. What I have noticed is that the account numbers for EQ and TU are the same, BUT EX has a different account number! It seems like all three CRAs are referring to the same account, as they all have the same account open date of Sept 2007 , $3500 credit limit, and date of last payment, Dec 2010.

Here are some notes from each CRA.

EQ: Charge Off Amount: $ 2,421 Balance: $ 0 Activity Description: Transfer/Sold

TU: Original ChargeOff:$2,421 Balance: $0 Remarks: PURCHASED BY ANOTHER LENDER; TRANSFERRED TO ANOTHER OFFICE, ACCOUNT SOLD TO FORWARD FLOW SALE 113

EX: Account charged off. $2,652 written off. $516 pastdue as of Jul 2011. Recent Balance: $2,652 as of 07/2011 Comment: Account closed at credit grantor's request.

There seems to be a discrepancy between the charge off amount in addition to the account number. I know I did not have more than one Barclay card. It appears that they are all referring to the same account, but there are enough differences to make me curious.

Has anyone else dealt with a situation like this?

I was going to contact Barclay to update the account reporting to EX to that of a charge off, zero balance, but now I'm wondering what's going on?

Thanks for your feedback!

RobertEG · ‎09-07-2015

It is a discrepancy, and can be the basis for a dispute of the accuracy of their reporting.

The debt was either sold, or it was not. The reporitng should be the same with each CRA. Thus, one or the other is inaccurate.

Not reporting a $0 balance is an omission,whiler reporting a $0 balance is an express reporting. Thus, one can logicailly assume the express reporing it sht accurate reporting.

The basis for the dispute is FCRA 623(a)(2), which requires any party who has reported information to a CRA to promplty update that reporting as necessary to maintain its current accuracy.

One could dispute via a CRA or send a direct dispute directly to the creditor.

Either way, the creditor will obtain a copy of the dispute. If disputed via a CRA, the creditor must conduct a reasonable investigation and then respond back to the CRA. If you send a direct dispute, their response must be sent direclty to you.

I would recommend a direct dispute, as it will ensure that the creditor receives ALL of your supporting documentation and arguments.

CRAs do not usually forward all documentation provided by the consumer.

Anonymous · ‎09-08-2015

@RobertEG wrote:
It is a discrepancy, and can be the basis for a dispute of the accuracy of their reporting.
The debt was either sold, or it was not. The reporitng should be the same with each CRA. Thus, one or the other is inaccurate.
Not reporting a $0 balance is an omission,whiler reporting a $0 balance is an express reporting. Thus, one can logicailly assume the express reporing it sht accurate reporting.
The basis for the dispute is FCRA 623(a)(2), which requires any party who has reported information to a CRA to promplty update that reporting as necessary to maintain its current accuracy.

One could dispute via a CRA or send a direct dispute directly to the creditor.
Either way, the creditor will obtain a copy of the dispute. If disputed via a CRA, the creditor must conduct a reasonable investigation and then respond back to the CRA. If you send a direct dispute, their response must be sent direclty to you.

I would recommend a direct dispute, as it will ensure that the creditor receives ALL of your supporting documentation and arguments.
CRAs do not usually forward all documentation provided by the consumer.

Thanks RobertEG for your insight!

So you recommend a direct dispute Barclays (the OC)? What type of supporting documentation should I send? I was assuming I would send copies of all 3 of my credit reports regarding this account and point out the differences with the main goal being the zeroing out of my balance that has been reporting on EX. Does this sound correct? Is there any model language? I will reference the FCRA 623(a)(2). Also, should this be send certified mail? Do I call them first or just mail it? Also, each credit report lists a different mailing address.

Would it make sense to DV first? Will disputing this information lead to a "in dispute" comment on my credit report?

Sorry for so many questions, just trying to be educated and prepared for the process! Thanks

Anonymous · ‎09-08-2015

@Anonymous wrote:
@RobertEG wrote:
It is a discrepancy, and can be the basis for a dispute of the accuracy of their reporting.
The debt was either sold, or it was not. The reporitng should be the same with each CRA. Thus, one or the other is inaccurate.
Not reporting a $0 balance is an omission,whiler reporting a $0 balance is an express reporting. Thus, one can logicailly assume the express reporing it sht accurate reporting.
The basis for the dispute is FCRA 623(a)(2), which requires any party who has reported information to a CRA to promplty update that reporting as necessary to maintain its current accuracy.

One could dispute via a CRA or send a direct dispute directly to the creditor.
Either way, the creditor will obtain a copy of the dispute. If disputed via a CRA, the creditor must conduct a reasonable investigation and then respond back to the CRA. If you send a direct dispute, their response must be sent direclty to you.

I would recommend a direct dispute, as it will ensure that the creditor receives ALL of your supporting documentation and arguments.
CRAs do not usually forward all documentation provided by the consumer.

Thanks RobertEG for your insight!
So you recommend a direct dispute Barclays (the OC)? What type of supporting documentation should I send? I was assuming I would send copies of all 3 of my credit reports regarding this account and point out the differences with the main goal being the zeroing out of my balance that has been reporting on EX. Does this sound correct? Is there any model language? I will reference the FCRA 623(a)(2). Also, should this be send certified mail? Do I call them first or just mail it? Also, each credit report lists a different mailing address.
Would it make sense to DV first? Will disputing this information lead to a "in dispute" comment on my credit report?

Sorry for so many questions, just trying to be educated and prepared for the process! Thanks

Anyone have suggestions on how to go about doing a direct dispute? Thanks!

Anonymous · ‎09-10-2015

So I ended up filing an online dispute with Experian explaining the situation and I provided copies of the tradeline info from my TU and EQ reports showing that it was sold to CA and reported a balance of $0. I also managaged to dig up a year old offer letter from the CA for this account and attached that as documentation. The CA is Jefferson Capital Systems, LLC. This OC was originally Juniper Bank, but was converted to Barclays sometime since. The offer letter had the $2,652 balance on it, but only showed the last four digits of the account number. Let's hope this is enough for the CRA to at least change the balance to $0, since it obviously had been sold to a CA.

Thanks for the advice, I'll update the thread as I learn more.

Anonymous · ‎09-26-2015

Dispute UPDATE!

Experian has updated the balance to $0! I'm hoping that will give me a score bump since it was really hitting my utilization percentage.

Thanks to this board I probably would have never know to look for this inconsistency nor would I have known what to do about it.

Anonymous · ‎09-26-2015

@Anonymous wrote:
Dispute UPDATE!
Experian has updated the balance to $0! I'm hoping that will give me a score bump since it was really hitting my utilization percentage.

Thanks to this board I probably would have never know to look for this inconsistency nor would I have known what to do about it.

Excellent!