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Class Action Settlement Question

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Maximus5403
Valued Member

Class Action Settlement Question

I have a reposession from 6 years ago on my credit report, and I am part of a class action against the lender for illegal reposession. The settlement was approved by the judge a week ago and part of that settlement is they are to remove entire tradeline from my credit report. I contacted the attorneys and they said it would probably be late September or October before it gets deleted. Is there anyway for me to get this removed faster through the CRA's? I am closing on my mortgage on the 31st and would really like to have this gone by then!

Message 1 of 3
2 REPLIES 2
RobertEG
Legendary Contributor

Re: Class Action Settlement Question

Unless the required deletion was based on a clear violation of the FCRA such that the repo can be separately disputed without use of/reference to the court's required deletion, then they have whatever period set by the court to complete the stipulated action.

The CRAs will not independently impose a period that was not imposed by the court.

 

What date is imposed by the court for completion of the deletion?

Message 2 of 3
Maximus5403
Valued Member

Re: Class Action Settlement Question

I just read throught the 120 page file. The bank has 20 days from the effictive date to remove the tradeline from my credit reports. The effictive date looks to be the date the judge granted final approval and signed off which was 8/8. So it will probably happen in September...

Message 3 of 3
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