CRA Letter Inputs

[brainysmurf]

I think I'm ready to send this one out. I know now to get input from you guys first.

Brainysmurf
Some St.
Virginia Beach, VA
 
Equifax
P.O. Box 740256
Atlanta, GA 30374-0256
04/15/2011
 
 
 
RE: FCRA § 611 (d) - Dispute # ************ 
 
Under the above mentioned title and section I request that you furnish notification of the deletion of Account # - 138* GA PWR to any persons who received a copy of my report containing the deleted information within the six months prior to the completion of the investigation.

Including:
DISCOVER FINANCIAL SERVICES
NAVY FEDERAL CREDIT UNION
USAA FSB
HSBC BANK NV
CAPITAL ONE BANK USA

Additionally, I am concerned about appropriate coding of the permissible purpose for the following inquiries. Inquiries are a matter of factual record and I do not dispute my authorization of any inquiry in my credit file. I request verification that the PP of the following reference auto financing, so that they are weighed properly in scoring algorithms:

3/21/2011 CHASE AUTO FINANCE
3/21/2011 HALL MAZDA
3/18/2011 CDUL/COASTAL FCU
3/18/2011 THE CREDIT UNION LOA...
3/17/2011 CAPITAL ONE
3/16/2011 NAVY FCU
3/16/2011 WELLS FARGO DEALER SERVICES

Sincerely,
Brainysmurf
SSN# ***-**-****

[RobertEG]

Deletion of items of information from your credit file is not the same as the deletion of accounts.

Unless the results of a prior investigation specificall held that the entire account was inaccurate, all that the dispute resolution requires is either the update or deletion of that specific information.  And even if the OC deleted the entire account after a dispute, that does not mean that the dispute determined that entire account deletion was required. 

I would only send such a letter if the dispute itself determined that the entire account was inaccurate, and I would not send it if the dispute resolved only the deltion os individual items of information under the account.

As for requiring the CRA to verify the permissibility of a credit inquiry, that is, in my opinion, a non-starter.  When a party requests a pull of your CR, they provide a self-certifying reason for its permissibility under the provisions of FCRA 604(f).  The CRAs can rely upon such certifications, and arent required to intitiate an investigation unless it is filed in the form of a dispute with the party who reported..

If you dispute, it should be directed to the accuracy of reporting made by the inquiree in the form of a dispute through the CRA under FCRA 611(a).  You cannot dispute the accuracy of credit inquires by way of a direct dispute with the party under FCRA 623(a)(8),

[llecs]

Are those inquiries not yours? If not, then call the police and file a report for ID theft. You won't need to place a fraud alert on your report since that letter would do so for you, but you may want to pull again down the road to make sure it is on there.

If they are yours, then there could be a couple of issues. First, if you applied with each individual lender, then the inquiries are legit. They are supposed to be there. If they are all auto-related, then FICO will only ding you for one of those inquiries and will ignore the others for scoring purposes. Under a manual review, a lender would also see that these inquiries are auto-related. If you didn't apply at each, but maybe they came from a central lender or dealer, then that's normal. Creditors know, and ths FICO scores in that manner, that you would apply to several locations to get the best deal on a car loan.

[brainysmurf]

Thanks for the sanity check guys! I'm so glad to have found this forum. Before I would say "yep, looks good" and chuck it in the mail.

The inquiries are all mine. I just wanted to be sure they are reflecting that they're for an auto loan.

I've heard specifically that CUs are sometimes missed in the rate shopping single inquiry determination.

As for the 611 (d) portion. The account legitimately should not have been there, and I feel that adverse action(s) resulted from it.

I don't really expect that any lender would give the correction notice any weight. I just saw that it was in the FCRA, and wanted to see what happens.

From my dispute resolution letter:

>>> We have researched the credit account. Account # - 138* The results are:    This item has been deleted from the credit file. If you have additional
questions about this item please contact: Georgia Power, 2500 Patrick Henry Pkwy, Bin # 80002, McDonough GA 30253-4298 Phone: (877) 506-3903

Blurb at the end:

If the reinvestigation results in the deletion of disputed information, or you submit a statement in accordance with the preceding paragraph, you have the right to request that we send your revised credit file to any company specifically designated by you that received your credit report in the past six months (twelve months for California, Colorado, Maryland, New Jersey and New York residents) for any purpose or in the past two years for employment purposes.