07-10-2012 01:52 AM
Most parties who tell you that they "cant delete" are doing so based on the general policy handed down to them.
And that policy, while not properly based on illegality, is nonetheless a legitimate policy based on their reporting agreements.
I would hesitate to argue with them on the legality issue, as you are requesting their good-will, even if part of a PFD offer.
Rather, I would move up the management chain, and find an official who has authority to grant exceptions to whatever policy they have handed down.
07-10-2012 06:13 AM
Thanks so much for that answer. I am going to write a letter and just pray that they decide to delete it. It sucks because I thought i was doing the right thing when I simply paid it off. Now, looking back, I guess I shouldn't have paid them so easily...
07-10-2012 06:52 AM
They are required legally to report accurately to the CRBs. But they are not required to report to the CRBs at all.
But Robert is right, to most people, the policy is their law.
07-10-2012 10:21 AM
I could be wrong here, but if you request DV, under HIPPA they wouldn't be able to verify since the debt is PIF? Someone with more experience on this can chime in, but from what I was reading under HIPPA they can only validate a debt if you currently owe it therefore since it is paid, they could not validate and would have to delete it?
07-10-2012 01:03 PM
07-10-2012 01:13 PM
Use your google-fu and search for whychat and hippa
07-10-2012 02:30 PM
The DV process does not require debt verification, and lack of verification is not basis for CR deletion. It requires them, if the DV is timely, to cease collection activities until such time as verification is provided.
If the debt is paid, they wont be conducting further collection activities, so a cease collection bar would mean nothing to them.
07-10-2012 02:39 PM
07-11-2012 12:19 AM
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO