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Valued Member
Posts: 29
Registered: ‎01-13-2011
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GEMB - Paid CO, still reporting balance: Need advice

Hope someone can offer some guidance on the best way to deal with this:


I had a CO on a GEMB account which has now been paid (settled for original amount owed - I did receive a 1099-C for the remainder of the balance which represented interest and fees). Settled amount paid over 5 months ago. (They refused to do a PFD - I was willing to pay the whole amount for that!)


However, it is still showing on my CR as "$xxxx past due on account".  (Only and ever showing up on one CR). Does figure into my total balance of revolving accounts but NOT in my utilization. 


I thought the creditor is under an obligation to show the balance as $0 (the account was settled through the law firm representing GEMB).


1. Does this give me any leverage to have the whole TL deleted (which is what I would truly like to see happen)? (Won't hurt my AAoA)


2. Do I just call/write and ask them to update to $0, OR do I try to GW the TL off, OR do I dispute either with the OC or the CRA?


Any advice greatly appreciated. Thanks.

Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
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Re: GEMB - Paid CO, still reporting balance: Need advice

If it is showing currently past due, that is wrong. 


If it was settled it needs to show a 0 balance and a comment settled or whatever was agreed upon.


I would start with a dispute to the OC using FCRA 623(a)(8):


Sample format, mailed directly to the party who reported the disputed information:

“This is a Notice of Direct Dispute with you, under the provisions of FCRA §623(a)(8)(D), of the accuracy of information you have reported to my credit file.

       ►       (If sent to a debt collector, (CA), it might  be beneficial to also include the blurb:

       ►  “This is a direct dispute of credit reporting. This is not a request for debt
              validation/verification  under FDCPA §809(b).”.    (don’t let them just simply sluff it off as a meaningless  DV letter)

“In compliance with FCRA §623(a)(8)(D), and enacting regulations published at  16 CFR § 660.4, this Notice of Direct dispute includes:

 “Identification of the specific information being disputed:  (specify the account number, and the specific information that is disputed under
  that identifying account)

“Basis for the dispute:

            (how the reporting was inaccurate;    was any reporting in violation of any statutory or  regulatory provisions?  account or express agreements?  CRA reporting gudelines? Account not yours? etc.)

“Supporting documentation:

            (all documents that support your dispute; it is recommened to also include,   as part of your documentation, at least a copy of the portion only of your  recent   credit report showing their reporting of the disputed information was  actually reported to your credit flle.  The implementing rule suggests a  showing  that it appeared in your credit report)

Community Leader
Epic Contributor
Posts: 29,745
Registered: ‎03-19-2007
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Re: GEMB - Paid CO, still reporting balance: Need advice


Basis for the dispute would be their lack of compliance with FCRA 623(a)(2), which requires timely update of any prior reporting so as to maintain its current accuracy.


The dispute wont require deletion of information that is not the subject of the dispute.  They are always permitted to simply update any inaccuracy.  In this case, simply the current balance of $0 and current status of paid.

Deletion of the CO would only be compelled upon a showing that it was inaccurate.

Valued Member
Posts: 29
Registered: ‎01-13-2011
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Re: GEMB - Paid CO, still reporting balance: Need advice

Thank you, guiness and Robert.


As long as I know they need to at least update the balance, I think maybe I'll try to GW them first to try to remove the TL. (Maybe they'll show a variation of that "GE luv" everyone speaks about) Smiley Happy



If that fails, I'll dispute as you both suggest.



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