Chase response to GW says they cannot by law remove a late

[Anonymous]

Chase responded to my GW letter saying that "The Fair Credit REporting Act requires the bank to accurately report all information regarding a Customer's account history. To preserve the integrity of the credit reporting system, we are unable to alter valid information reporting to the credit reporting agencies."

How can this be, given all the "success stories" I've read on this forum of people getting late payments cleared off their credit reports?

Should I send another letter?

[gymbo731]

Yes, keep trying. Send a letter every three weeks until it comes off. It is possible! Are you sending the letter to the address on your credit report?

[Anonymous]

Yes I sent it to the address on the CR. I see most people on here talking about getting GW deletions for charge-offs (not even sure what that is, actually) and collection agencies. But what about a former late payment on a card I still have? Funny thing is, they just gave me an auto-credit line increase on that account and approved me for a product change to the Freedom Card. I seem to be in good standing with them otherwise. Wish they would delete the late, though. Came in 2007 so I've still got some time before it falls off.

I'm more concerned about a collection agency. I paid it in full ($75) and they are only reporting it to TU. If I could get that off, I'd be in the solid 700 range if the other two FICO numbers are any indication.

[Anonymous]

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@Anonymous wrote:

Chase responded to my GW letter saying that "The Fair Credit REporting Act requires the bank to accurately report all information regarding a Customer's account history. To preserve the integrity of the credit reporting system, we are unable to alter valid information reporting to the credit reporting agencies."

How can this be, given all the "success stories" I've read on this forum of people getting late payments cleared off their credit reports?

Should I send another letter?

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The part that is highlighted is the only reason why they don't want to delete your pay-in-full status.

While it is true that the FCRA mandates that any information reported must be accurate, it says nothing about reporting any information at all.

Consumer credit reports are a product of financial institutions, for other financial institutions.  CRA's never represent the consumer's best financial interest.   And what is highlighted only underscore what I am saying.  Chase just wants their money, and at the same time wants to hurt you for the next 7.5 years that the paid charge-off appears on your report.

I am not a big fan of PFD's.  My preferred method of removals is to sign a Non-Disclosure Agreement with them.  A carefully crafted NDA will allow you to pay for the debt, and let the entry fall off under the penalty of a broken NDA.  I have had great success going this route.

"To preserve the integrity of the credit reporting system" ... that's a thought! :rolls-eyes:

[Andrew22]

if you look at the Chase success stories, the success is that they have deleted the entire trade line, not a late payment. They refuse to remove lates, but they will remove an entire account, but it sounds like your account is open and in good standing.

[Anonymous]

Yeah, I did some more digging and I noticed that, too. It's a late from a card I still have. I have noticed most (if not all) of the GWs are for deleting trade lines altogether. Which makes sense if the law requires them to report accurately, the only way they can stop reporting a late is to stop reporting the account. I may start a new thread on this, because it is a waste of people's time to ask for lates to be removed on accounts still open.

Funny thing is, that late must not bother them too much. They just upgraded me to the Freedom card and gave me an auto CLI.