09-08-2010 03:52 PM
We have a GE account, which was settled back in March 2008. The balance of that was sold to LVNV. A few weeks ago, I disputed the LVNV as the settlement letter we rcvd back in 2008 from GE stated paid as agreed in full, no futher obligation on this matter. I also disputed the lates that GE had on the account (which by the way is listed as Bad debt/charge off) from April 2008 to December 2008 as there were no lates as the account was "paid in full". LVNV was deleted from the credit report and the results for the other were that GE sold and/or transferred the account no further activity. Score increased 8 points. yay! Well, the NEXT day the EQ score dropped 22 points down to 595! Reason? The status on the GE account is now reading Repossession. I called Equifax directly and asked them how is it that their dispute said no change and now states repossession (and mind you this is no car - it's a credit card). I told the gentleman at EQ that I had thought possibly it was a keying error, as K = Repossession and L = Charge off. I don't think he was understanding my point. At anyrate - another dispute was created for this, and today we rcvd a score alert for an account change - the GE was listed back to charge off collection, paid in settlement, etc. - but no score change.. How is it that we can lose 22 points and not get back even ONE point back for a screw up that someone other than us made? (insert childish feet stomping here...) Is this how it works?
So - here is my next question - they STILL haven't changed the lates on that account from April to December 2008 - still showing late (as much as 180 days)...Maybe I am not expressing myself well enough..It was settled and accepted as paid in full in March 2008 - therefore, there will be no lates after that date. Another poster suggested I send a letter to GE stating that they are violating FCRA for innaccurate reporting..Any suggestions on wording, and more importantly, should I go this route? I'm struggling so hard to increase scores, and I don't want to take any more chances on screwing anything up. Thanks All!