09-23-2010 04:01 PM - edited 09-24-2010 06:34 AM
I sent a certified letter to Experian with proof that it was received on August 28th. I was requesting a dispute be opened regarding a small credit card account they are reporting as a charge-off. The item has been paid, and its reporting as negative information through Experian and Transunion. However, there is no negative payment history to support their claim of charge-off. In fact, there is no payment data at all, positive or negative. So in my dispute to them and Transunion, I requested that the payment history of the account be verified. Experian sent me a letter back basically stating they were not going to verify the account unless I send them relevant information, which they would need to verify. I dont have the payment history. Last, Transunion claims they verified the information to be correct, but I'm a little leary on that, as the date the account states the item was verified is from 2007, based upon that credit report. I was wondering what recourse do I have against these two credit bureaus?
09-23-2010 08:55 PM
Lack of prior reporting of monthly derogs, and thus establishing a payment history profile in your credit file, is not, in and of itself, evidence that the charge-off was improper. The OC was under no obligation to do any monthly reporting prior to their charge off. The reporting of the CO is still accurate, and it can remain in your CR for 7 - 71/2 years from the DOFD on the OC account.
As for your problems with the CRA in getting the info you want, here is what I suggest.
When the OC did the charge-off, they were required under FCRA 623(a)(5)(B) to have provided the DOFD on the OC account to the CRA. So, at the very minimum, your credit file must show at least the DOFD on the OC account.
In order to get the information you want from your credit file, such as the DOFD reported under FCRA 623(a)(5)(B), and/or any reported payment history, it is NOT necessary for you to dispute, or to provide and information or reasons to the CRA.
All you have to do is file a request under FCRA 609(a)(1) with the CRA, requesting "all information in the consumer's file at the time of the request..."
You dont need to supply any reasons.
The CRA must respond to this request, providing you accompany it by the requred fee under FCRA 612(f), which is currently $10.50.
09-23-2010 11:54 PM
I appreciate the info Robert. How exactly do I file the request under FCRA 609 (a) (1)? Is it with just a simple letter? Then what would my next step be, after requesting and receiving, or not receiving the letter?
09-24-2010 12:49 AM - edited 09-24-2010 01:15 AM
They must comply. Mandated by law. It is not discretionary.
Yes, a simple letter addressed to each CRA that is posting info that you want/. Suggested letter:
"This is NOT a dspute of credit reportring.
It is a request under the provisions of FCRA 609(a)(1) for "all information in the (my) consumer's credit file" of the following specific information:
(the date reported by the original creditor, under their reporting obligation under FCRA 623(a)(5)(A). of that reporting to you... both the date
they complied, and the date of account delinquency that was reported to you.)
(whatever else you want to see in your credit file,such as payment history profile)
"This request requires your response, subject only to my payment of the fee mandated by FCRA 612(f), of $10.50.
"Enclosed is my payment of that fee."