01-25-2013 08:20 PM
Hi I'm new to MyFico message boards. I have been reading here for weeks and decided to send a GW letter to JCP asking them to delete a 30d late that I had last June. The JCP response was to put a new remark on my credit file "Account information disputed by consumer, meets FCRA requirements" the GW letter said nothing about disputing just an explanation of the circumstances of why I was late and would they consider removing the 30d late from my CR. Now my EQ score has dropped 20pts and the only change is the remarks.
Is this common? How long will this stay on my CR? I'm wondering if I should call JCP. This is my first attempt to fix anything on my report and am feeling pretty discouraged.
01-25-2013 09:40 PM
I beleive that is a temporary status, and it make your score dropp because the entire account and all its history is not being calculated into the score. so as soon as the have a response they will change the status back with the updates.
also you are in the wrong forum section
you will be moved in 5, 4, 3, 2, 1.......
01-26-2013 08:42 AM
Looks like the correct forum to me.
A GW is NOT a dispute though It is very common for a creditor to make this error.
I would send another letter and in all caps, to get their attention, state this is not a dispute before going on with the GW. Also, ask them to remove the dispute annotation from your CR.
01-26-2013 09:07 AM
zero was right, it was mod moved here.
01-26-2013 09:10 AM - edited 01-26-2013 09:11 AM
If they mistakenly treated it as a direct dispute, that imposes requirments upon them that they apparently have not complied with.
They cant, on the one hand, report a consumer dispute to the CRA, and on the other hand, not process and formally conclude the dispute under the requirements of FCRA 623(a)(8). This happens with DVs, PFDs and GWs. One debt collector is notorious for using this "mistaken" interpretation to sluff off legit. DVs and ask for more information to complete the dispute, thus putting everything in limbo.
They must conclude a direct dispute within the same 30-day period as imposed on CRAs for concluding a dispute filed through a CRA.
There are only two ways to conclude a dispute. Investigate and send the consumer a results of notice of their investigation, or dismiss the direct dispute as lacking sufficient identification of an inaccuracy such that they can conduct an investigation. Upon conclusion of the dispute, they are required to notify the CRA of its termination, so it should not remain as an unresolved dispute for more than 30'ish days.
If they have reported a direct dispute and never concluded it by sending you a notice of results of their investigation or dismissal of the dispute, they are in violation of FCRA 623(a)(8).
The best way is to challenge their improper treatment of the letter as a direct dispute. Alternately, one can challenge their failure to have concluded the dispute.
However,therein arises a classic catch-22, filing a "real" dispute to challenge their treatment of your prior communication.
I would begin with a letter to them, advising that their prior interpretation and handling was improper, and requesting deletion of any prior reporting of a dispute, be it pending or resolved. My emphasis would be on their improper treatment as a direct dispute, with a side-note informing them that they have additionally failed to comply with the direct dispute rules even if their interpretation as a dispute was proper.
I would supplement my letter by drafting a formal complaint to the FTC, and including a cc: in my letter to them.
In summary, an attempt to challenge their handling without having to file a "real" direct dispute, and thus mucking things up even more.
01-26-2013 09:13 AM
01-26-2013 03:44 PM
I didn't move it, I actually followed this post from the CC boards.
01-27-2013 03:24 PM
Thanks everyone for all the great advice! And so sorry if I misfiled. I'm still learning my way around the boards.
I've gotten another notification on a JCP change but the description was confusing and didn't mention the dispute. So, I’m going to wait a few more days, let the dust settle and pull a new report. Then I guess I'll decide where to go from there. Will let you know if I get it resolved.