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New Contributor
improvedcredit
Posts: 63
Registered: ‎12-23-2011
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Best way to dispute TLs from credit reports

I have been trying to dispute a CO from my credit report and it always comes back verified. The option I usually choose is "I have no knowledge of this account", what happens if I choose any other option? Are there precautions to how many times I can dispute an account?

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laz98
Posts: 4,335
Registered: ‎09-06-2008
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Re: Best way to dispute TLs from credit reports

Is it an accurate tradeline?  It is against the forum's rules to discuss disputing accurate information on your reports.

 

Repeated disputing of tradelines can result in the CRA labelling you as a frivolous disputer, meaning they won't take your disputes anymore.

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RobertEG
Posts: 18,131
Registered: ‎03-19-2007
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Re: Best way to dispute TLs from credit reports

[ Edited ]

Here is your option.

If you truly believe that the account is not yours, you need to put that assertion into a sworn statement before a law enforcement agency, stating that since the account is not yours, it must have been opened/used by one without your knowledge or authorization.  You must allege potential identity theft, under the knowledge that any false statements made in a police report are subject to criminal prosecution.  That is why the FCRA accepts police reports as substantiation of a claim of identity theft.

 

If you take that step, it opens up provisions of the FCRA that are not based on having to dispute a negative.

You can first, armed with the identity theft report, send a copy to the creditor, and demand copies of their original account contract and of any business records in their possession relating to the account alleged to have been the subject of identity theft.  That powerful process is outlined in FCRA 609(e), and would be my very first step. It provides you with factual documents to contest your approval of the account.

 

You can also block any information included in your CR from further reporting by sending the police report to the CRA, and requesting a blocking of the reported information under FCRA 605B.

Finally, you can place an extended fraud alert on your CR by sending an additional request to the CRA, again along with a copy of the police report, and require them to place an extended fraud alert on your file, therafter requiring any potential creditor to contact you personally before extending any credit in your name.

 

If you are blowing smoke with an account not mine assertion, and are unwilling to put it in a sworn statement, it is nothing more than an assertion.

 

Under the new direct dispute process, the implementing rules state that once a dispute has been resolved, either by way of a prior dispute through a CRA or a prior direct disptue, then any subsequent dispute that does not raise substantial new issues can be summarily dismissed without investigation as being "frivolous or irrelevant."  See 16 CFR 660.4(f)(ii), 


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