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Ok. Here is an update. I file a complaint with the CFPB against Experian, Transunion, and my mortgage lender.
1. Experian responded with a partial response saying that they will have a result in 60 days. Is this legal? I thought they had a max 30 days to do an investigation?
2. Transunion has not responded as of yet.
3. The mortgage lender has been the most responsive. They discovered that the payment they claimed I made was wrong. They have updated the CRA's but now they are not reporting my payment history. So now the CRA does not know when the FDOD was. The CRA says this account is still going to stay on my reports for another year. The account should fall off this month because the FDOD was 05/2007. I just have to get them to report the payment history.
Here is my question: They are reporting the settlement as the last payment. Shouldn't this be reported as the settlement date? Is there a certain notation that lets the CRA know this is the settlement date and not the FDOD?
@radtechdude wrote:1. Experian responded with a partial response saying that they will have a result in 60 days. Is this legal? I thought they had a max 30 days to do an investigation?
Yes, this happended to me with my CFPB complaint against Asset Acceptance. In their case, they were reporting information which was absolutely devistating to my credit, in error, and the idea they could just extend their response was horrific for me. But, I called CFPB to ask about whether they could just extend indefinitely and they said they will continue to monitor an appropriate response, but requesting an initial extension is O.K.
3. The mortgage lender has been the most responsive. They discovered that the payment they claimed I made was wrong. They have updated the CRA's but now they are not reporting my payment history. So now the CRA does not know when the FDOD was. The CRA says this account is still going to stay on my reports for another year. The account should fall off this month because the FDOD was 05/2007. I just have to get them to report the payment history.
This is actually an excellent outcome. They have been responsive to your concerns about payment history and they have corrected the DofFD so that it matches your records. I would give a big sigh of relief and be thankful that they've resolved your main issues. As I understand it that DofFD is not showed to the customer by two of the three CRAs, but that doesn't mean they don't have it. I don't think you want to try to have payment history re-reported, just ensure the DofFD is corrected. Ask the mortgage holder to ensure that is corrected with a CRA & try to get them to forward you a letter, so you can send that to the CRA if it isn't corrected in a few weeks.
Here is my question: They are reporting the settlement as the last payment. Shouldn't this be reported as the settlement date? Is there a certain notation that lets the CRA know this is the settlement date and not the FDOD?
There is notation about the DofFD. You will usually see other dates such as last payment, but yes, the CRA has a DofFD which is seperate and which is not necessarily visible to you.
UPDATE: Ok great news!! My mortgage company miraculously decided to delete the whole tradeline of my credit report! Thanks to all the help from this forum! You guys rock!
It is definitely true that repairing your credit does not happen overnight. It took a few months but it happened.
I'm not sure if it was the fact that during these few months I had filed complaints with CFPB, my state Attorney General, the FDIC, and the Federal Reserve?
The reason they stated is that they finally realized that the account had already fallen off the other two credit bureaus.
It doesn't really matter the reason, but the analyst on the phone told me that they were deleting it. I checked the next day and it was gone!
I have one last bad account on my report! I sent them the second whychat letter today. This has been a educational experience.
Congrats on the deletion, you are very close to having no negatives on your credit file. Seems like the complaints worked. Can't wait until I can say that.
Thanks I appreciate it. Like I said, it wasn't overnight, but it was definitely worth all the work! I couldn't have done it without this forum.
Congrats!
@radtechdude wrote:UPDATE: Ok great news!! My mortgage company miraculously decided to delete the whole tradeline of my credit report! Thanks to all the help from this forum! You guys rock!
It is definitely true that repairing your credit does not happen overnight. It took a few months but it happened.
I'm not sure if it was the fact that during these few months I had filed complaints with CFPB, my state Attorney General, the FDIC, and the Federal Reserve?
The reason they stated is that they finally realized that the account had already fallen off the other two credit bureaus.
It doesn't really matter the reason, but the analyst on the phone told me that they were deleting it. I checked the next day and it was gone!
I have one last bad account on my report! I sent them the second whychat letter today. This has been a educational experience.
Nice, good job, grats