I sent a GW letter to ECMC and it looks like they are saying the same thing everybody other places have said to me that they are required to keep on reporting, this sucks.
Here is their response,
Good morning,
Thank you for contacting ECMC regarding your account, XXXXXXX. In regards to the ECMC-related information on your credit report, pursuant to Federal Regulations, 34 C.F.R. 682.410(b)(5), ECMC is required to report: (1) the total amount of loans made to the borrower and the remaining balance; (2) the date of default; (3) information concerning collection of the loan, including repayment status of the loan; (4) any changes or corrections in the information since the initial report; and, (5) the date the loan is fully repaid or discharged.
According to our records your account was paid on April 2, 2013. Upon payment in full, ECMC reported your loans as a “Paid Collection Account” to the nationwide consumer reporting agencies. ECMC’s practice is to report these requirements for seven years past the date your loans attained their default status. As such, regardless of your paid-in-full status, ECMC will continue to report the status of your loans until this seven-year reporting requirement has expired. This appearance of negative information on your credit report is a consequence of default, explained to you on your promissory notes obtained for these loans. Your loans have and will continue to be reported as a “Paid Collection Account”, as that is the code available for a defaulted loan that has been paid in full.
ok so I found out the OC is Bank of America and the DoFD was in 2005, ECMC is saying they recieved the collection from BofA in 2009 so 2009 is the date the loan defaulted, so that doesn't make sense. The first time it defeaulted/DoFD was in 2005 but it looks like they changed the date, is this allowed? How can I dispute it
@llecs wrote:Can you prove the 2005 DOFD? If so, you can dispute it with that and the CRA would need to consider that.
I would have to dig up that paper somewhere, but what If i can't prove it. Can I just call BofA? and find out and have them mail/email me saying the DoFD was in 2005?
@llecs wrote:That's the backup. You can ask for statements from that time period. You'd want to demonstrate that you were late then and never ever recovered the account after that date. Having 3-4-5 statements from about that time period would certainly help.
Another backup would be older CRs showing the 2005 date. You really can't use a TU report to dispute EX, as an example, but if you have an older TU report (again example) then you can dispute with a copy of that report to TU. They might get ahold of the OC and the OC update the other two too (or delete).
The question is how do I obtain a old report? I am currently a member of EX/EQ/TU and I can pull my report daily but it doesn't give an option to pull a old report.
The OC doesn't show up on my CR anymore probably due to the fact that it's been over 7 years and it has been removed.
@llecs wrote:
@tonyjones wrote:
@llecs wrote:That's the backup. You can ask for statements from that time period. You'd want to demonstrate that you were late then and never ever recovered the account after that date. Having 3-4-5 statements from about that time period would certainly help.
Another backup would be older CRs showing the 2005 date. You really can't use a TU report to dispute EX, as an example, but if you have an older TU report (again example) then you can dispute with a copy of that report to TU. They might get ahold of the OC and the OC update the other two too (or delete).
The question is how do I obtain a old report? I am currently a member of EX/EQ/TU and I can pull my report daily but it doesn't give an option to pull a old report.
The OC doesn't show up on my CR anymore probably due to the fact that it's been over 7 years and it has been removed.
Unfortunately it can be a challenge. Seems like EQ at least will give you an option to pull a full historic report if you subscribe to one of their services though I think you can only go back 30-60 days or something like that; I can't remember. Some CMSs will also allow you to save a report for a year or more (e.g. myFICO reports can go back a couple of years at leasst if you have a subscription-based product). Also if you applied for any big-ticket items like a home or car then sometimes they'll give you a full report you can reference back to from time to time. Going forward, always be in the practice of saving every report you pull whether by printing or saving them as a PDF.
I filed a complaint with BBB that they are still reporting, let's hope I can get it removed.