Rebuilding Your Credit

[kmason]

Equifax removed a huge charge off that has been haunting me for YEARS! Is there anyway I can use that as leverage to get Transunion and Experian to remove the account? The account is a old car loan that was showing chargeoff, with a $15,000 balance.  Any advice would be greatly appreciated.

[llecs]

Nope. The CRAs don't care what the other reports.

[RobertEG]

If the removal resulted from a dispute, then the creditor was required to have reported any correction or deletion to all CRAs to which the information was reported.

No, the CRAs arent responsible for notifying each other, except for identity theft issues.

The responsibility is placed on the furnisher of the information.

Was the deletion based on the finding in a dispute, or was it a GW deletion?

[sidewinder]

As already mentioned, just because 1 CRA does someting doesn't mean the others will.

You said it had been haunting you for years? Was it removed due to age?

Did you initiate some kind of action that resulted in it being removed?

[kmason]

Yes it was based off a dispute I submitted to Equifax.

[RobertEG]

Send them a letter reminding them of their responsibility under FCRA 623(b)(1)(D):

"if the investigation finds that the information is incomplete or inaccurate, report those results to all other consumer reporting agencies to which the person furnished the information"

[kmason]

I'm sorry I don't mean to sound dumb. But I want to make sure I understand correctly. You are saying send a letter to Trans union and Experian stating the FCRA law and do i include a copy of Equifax deletion?

[RobertEG]

No, you send it to the creditor.

It is the creditor's responsibility to correct/delete the disputed information.  The statute quite simply states that correction/deletion with the CRA that handled the dispute is not sufficient.  They must correct with all CRAs to which the information has also been reported.

[ESA2012]

Can you pm me the process of how you got your charge off deleted? I have a similar situation.

[novabama]

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ESA2012 wrote:
Can you pm me the process of how you got your charge off deleted? I have a similar situation.

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Sounds like he just disputed it with Equifax...