Help One Baddie Left!!!

[tiff]

I have a tradeline with an original creditor that was paid in May '06.  This is an auto loan that the collection agency promised to delete but didn't.  Okay I've accepted that for now.

On my equifax report...the date of 1st delinquency = 9/2004, the date of major delinquency = 9/2007.  The reads current status = Charge Off,  Charge off amount = $37,615.  In the Account History = J (Voluntary Repo) since 09/2005.

Okay having said all that...

The account history is totally wrong!  I have been unsuccessfully thus far at my attempts to get them to delete it, but as I stated earlier, the history is incorrect.

The account was paid in May 2006.  They have been reporting this account delinquent since that time and it's not. 

What should I do to get this corrected?  They are willing to correct it, but I'm concerned that my fico score will tremendously drop if they touch it.

My problem at this point is that this is the only BAD item I have left on my report.  I have been working since February to rebuild my credit and things have worked out pretty well for me.  My scores have increase 123pts! 

I'm trying to get an SBA loan for my business and I don't won't to this tradeline to hinder my efforts.

Please help!  How can I correct this without it having an adversed affect on my scores?

[Schoolbuskid]

I assume you have already disputed?...Knowing that OC's and CA' must report everything accurately, which is the law i believe, you could write the CRA's and OC/CA a letter stating that by law they must report accurately and as of right now they are not, therefore they are in violation. I dont know if their is a letter floating around out there somwhere but you can definitely search! Good Luck!

The experts should be able to give you some advice!

[Anonymous]

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tiff wrote:

I have a tradeline with an original creditor that was paid in May '06.  This is an auto loan that the collection agency promised to delete but didn't.  Okay I've accepted that for now.

On my equifax report...the date of 1st delinquency = 9/2004, the date of major delinquency = 9/2007.  The reads current status = Charge Off,  Charge off amount = $37,615.  In the Account History = J (Voluntary Repo) since 09/2005.

Okay having said all that...

The account history is totally wrong!  I have been unsuccessfully thus far at my attempts to get them to delete it, but as I stated earlier, the history is incorrect.

The account was paid in May 2006.  They have been reporting this account delinquent since that time and it's not. 

What should I do to get this corrected?  They are willing to correct it, but I'm concerned that my fico score will tremendously drop if they touch it.

My problem at this point is that this is the only BAD item I have left on my report.  I have been working since February to rebuild my credit and things have worked out pretty well for me.  My scores have increase 123pts! 

I'm trying to get an SBA loan for my business and I don't won't to this tradeline to hinder my efforts.

Please help!  How can I correct this without it having an adversed affect on my scores?

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When is it due to fall off?

Have you asked them about deleting it as said? Do you have written proof they agreed to delete?

Have you disputed with the CRA as "creditor agreed to remove"?

Does it update monthly?

The only problem with disputing it or them changing anything(besides deleting) is that sometimes when they update FICO sees the collection as a "recent" collection.

Have you been denied credit with this account listed as the specific reason why?

If so, I'd think about writing them a letter, sending it CMRRR, and mention that if they report incorrectly they can be held accountable for damages suffered by you. You have proof that you have suffered(being denied credit b/c of their inaccurate reporting). Ask them to compromise with you, you agree not to hold them accountable, they just remove the entire account as they promised to do to begin with.

[tiff]

When is it due to fall off? If is due to fall off in 9/2011

Have you asked them about deleting it as said?  yes Do you have written proof they agreed to delete?  no I don't because the collection agency made the promise.  They were suppose to forward me the letter.  I refi'ed my house to pay the debt, but the mortgage company sent the payment directly to them which took away my leverage of obtaining the letter before payment.

Have you disputed with the CRA as "creditor agreed to remove"?  I've disputed but not as "creditor agreed to remove"  I've also filed a compliant with the FTC, Attorney General and BB....still nothing!

Does it update monthly?  Yes it does...what's the deal with this?  Why is it important?

The only problem with disputing it or them changing anything(besides deleting) is that sometimes when they update FICO sees the collection as a "recent" collection.  I agree

Have you been denied credit with this account listed as the specific reason why?  yes