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Equifax Doesnt Post My CM Dispute.

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Hollywood80
New Contributor

Equifax Doesnt Post My CM Dispute.

I sent a letter into Equifax and Experian CM with no RR. Check USPS and they both received. Few weeks later, Experian verified the dispute and sent me hard copy. I decided to wait a few days and call Equifax. Of course, they CLAIM no dispute was opened up with them and no letter was sent. Ive heard this happening lately. Has anyone else had this same problem? Did you send the next item CMRR? 

 

Yes, this is for medical baddie btw.

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RobertEG
Legendary Contributor

Re: Equifax Doesnt Post My CM Dispute.

Just another example of the dozens of reasons why I never dispute through a CRA.  I would always dispute directly with the party who reported the information to the CRA (i.e., the OC or the debt collector), using the new direct dispute process under FCRA 623(a)(8).

 

Regarding your specific issue, unlike the dispute process through the CRA, the new direct disputes rules, and more specifically, 16 CFR 660.4(c), defines what comprises proper adress to which the dispute should be sent. and triggers their obligation to conduct their investigation if you send your dispute to an address specified under 16 CFR 660.4(c).

Interjecting the CRA into the dispute process usually only adds complications.

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Hollywood80
New Contributor

Re: Equifax Doesnt Post My CM Dispute.

RobertEG.... I am right there with you. I cant stand involving the CRA's. Unfortunately I dont think there's many ways around it.

 

623 Method - Disputing a listing with the Original Creditor
Last Modified June 1, 2010

While investigation request duties were always implied, new FTC law REQUIRES original creditors to respond to disputes starting July 1, 2010.

Note: When you write the Original Creditor (OC) to dispute a listing, you are asking for an INVESTIGATION, not verification. Under the laws, the OCs are not required to verify an account.

Did you know that some of the most powerful tools for credit repair for you to use in your fight to clean up your credit are unknown? A big one is the ability of you todispute negative listings with the information furnisher, typically the Original Creditor (OC). An information furnisher is any entity reporting information to the credit bureaus about you. This one was passed in the FACT Act in 2003.

Why is this a big deal? You think to yourself that "Hey, the Original Creditor must have great records, they will be able to show me proof in a heartbeat, right? Wrong. There are a few O.C.'s who keep decent records, but most credit card companies only keep records for 13-18 months. And if that's the case...and if you have lates on your credit report prior to this period...they won't be able to prove you were late...and they need to remove negative information if they can't prove it, per the law.

With all of the bank consolidations that have happened in recent years, many of the credit card and some other mortgage lending companies haven't been good about keeping their acquisition's records in the best of shape. As an information technologist who specializes in databases, I know it costs LOTS of money to import data from one system to another. Apparently, there are many companies who didn't spend the money.

This is not speculation. I've talked to many clients who have placed calls to their OCs, and the companies have NO RECORDS at all for them, let alone records of specific late payments, yet these OCs continue to report negative information on my client's credit reports. This is illegal!

While case law has established for the past few years that the Original Creditor (OC)can be held liable for reporting inaccurate information (Richardson vs. FleetNelson vs. Chase Manhattan ), the FACTA legislation passed recently allows the consumer to go directly to the original creditor and dispute information which the original creditor (called the information furnisher) in the FCRA, has supplied to the credit bureaus.

However before disputing with the original creditor, the CONSUMER MUST HAVE DISPUTED WITH THE CREDIT BUREAUS first. We'll see why later.

Again, when you write the Original creditor, you are asking for an INVESTIGATION, not verification. Under the laws, the OCs are not required to verify an account, only to conduct an investigation. I agree that these are legal fine hairs, but if you want them to act, you have to invoke the right laws. O.C.'s are NOT required by law to "verify" anything.

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