How do I fix this with Equifax?

[nicktheman]

I paid off a student loan through AES back in October 2007.  I have a paid in full letter from them stating that it was paid in full on 10/19/2007 yet on my credit it shows a late payment in May 2008!!  I have disputed it and it cameback verified.  I called them to see how that could be since I faxed them the paid in full letter.  They stated that since its still open even though they can see it was paid in full in October that unless I get a letter from AES stating that I didn't pay late in May that they couldn't remove it.  I called AES and they said they can only give me a Paid in Full letter which isn't working!  Isn't this against the law for them not remove this late payment being that I proved I had a 0 balance in October??  How should I proceed?

[BungalowMo]

That doesn't make sense.  You can't have a late payment dated after payoff. 

Any ideas out there guru's????

Message Edited by BungalowMo on 08-06-2009 10:13 AM

[Anonymous]

You are approaching this wrong.

You cannot remove anything, only the creditor can.  The fact that it shows a late payment in May 08 and came back "verified" indicates this is an issue with the creditor, not Equifax.

You need to write a letter to AES outlining your issue.  Provide a copy of your paid in full letter, a copy of the page with the late payment mark on your credit, a copy of your dispute result.

You need to request for them to update and correct their records within 30 days, because federal law (FCRA) requires them to report only accurate information and this is affecting your credit in a deragatory manner.

Wait for the response then post back.

If they do nothing, then you will need to file a complaint with the FTC against both AES and Equifax, your state attorney general, BBB, etc.

You can also have an attorney write a letter to AES and Equifax on your behalf.  Attorney letters get routed to a different department than consumer letters.  These letters actually get read and responded to.

An inexpensive way to get an attorney letter is through Prepaid Legal Services.  They charge $17 per month for telephone consultation with attorneys and will write a letter on your behalf as well.

Message Edited by txjohn on 08-06-2009 07:21 AM

[nicktheman]

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@Anonymous wrote:

You are approaching this wrong.

You cannot remove anything, only the creditor can.  The fact that it shows a late payment in May 08 and came back "verified" indicates this is an issue with the creditor, not Equifax.

But I called AES and they said they show no late payment in May and that they are not reporting any lates.  I sort of believe them since TU and EX are not showing a late in May.  I would think if they were reporting wrong it would be reporting wrong to all 3?  I just talked to a lady at AES who is going try and get me a letter that states there should be no lates after October 2007.  So hopefully this works.

[BungalowMo]

You still need to send them that information so that they can see for themselves what EQ is reporting, then they contact EQ to insist on the correction.

[nicktheman]

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@BungalowMo wrote:
You still need to send them that information so that they can see for themselves what EQ is reporting, then they contact EQ to insist on the correction.

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So I sent the information and they are still quoting that the reporting will stay for 6.9 years.  No matter what I say or show them they will not remove the late from May 2008 even though the balance was paid in full on October 19, 2007.  Is there a letter with laws that I can send them to get them to remove this?  Or should I write the BBB or FTC?

[BungalowMo]

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@nicktheman wrote:

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@BungalowMo wrote:
You still need to send them that information so that they can see for themselves what EQ is reporting, then they contact EQ to insist on the correction.

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So I sent the information and they are still quoting that the reporting will stay for 6.9 years.  No matter what I say or show them they will not remove the late from May 2008 even though the balance was paid in full on October 19, 2007.  Is there a letter with laws that I can send them to get them to remove this?  Or should I write the BBB or FTC?

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Who did you send the info to???

[nicktheman]

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@BungalowMo wrote:

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@nicktheman wrote:

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@BungalowMo wrote:
You still need to send them that information so that they can see for themselves what EQ is reporting, then they contact EQ to insist on the correction.

---

So I sent the information and they are still quoting that the reporting will stay for 6.9 years.  No matter what I say or show them they will not remove the late from May 2008 even though the balance was paid in full on October 19, 2007.  Is there a letter with laws that I can send them to get them to remove this?  Or should I write the BBB or FTC?

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Who did you send the info to???

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I sent the wrong reporting to AES Default Collections - spoke to a supervisor who said she would help me, but instead dodged my calls for 3 days then sentme the same paid in full letter that I have recieved before from them showing paid in full date.  She said that no matter what they have the right to report to Equifax for another 6.9 years that I was late in May 2008 even though I was paid in full at that time.

Equifax said unless I have a letter from AES that says there was no adverse information after October 2007 that they can not change it even though I have a paid in full letter showing October 2007 as the paid in full date.  I'm getting so frustrated - I'm ready to sue or do something.  What steps can I take now?

[bigtim]

From the FCRA:

(8) Ability of Consumer to Dispute Information Directly with Furnisher
(A) In general. The Federal banking agencies, the National Credit Union Administration,
and the Commission shall jointly prescribe regulations that shall
identify the circumstances under which a furnisher shall be required to
reinvestigate a dispute concerning the accuracy of information contained in a
consumer report on the consumer, based on a direct request of a consumer.
(B) Considerations. In prescribing regulations under subparagraph (A), the agencies
shall weigh--
(i) the benefits to consumers with the costs on furnishers and the credit
reporting system;
(ii) the impact on the overall accuracy and integrity of consumer reports of
any such requirements;
(iii) whether direct contact by the consumer with the furnisher would likely
result in the most expeditious resolution of any such dispute; and
72
(iv) the potential impact on the credit reporting process if credit repair organizations,
as defined in section 403(3) [15 U.S.C. §1679a(3)], including
entities that would be a credit repair organization, but for section
403(3)(B)(i), are able to circumvent the prohibition in subparagraph (G).
(C) Applicability. Subparagraphs (D) through (G) shall apply in any circumstance
identified under the regulations promulgated under subparagraph (A).
(D) Submitting a notice of dispute- A consumer who seeks to dispute the accuracy
of information shall provide a dispute notice directly to such person at the
address specified by the person for such notices that--
(i) identifies the specific information that is being disputed;
(ii) explains the basis for the dispute; and
(iii) includes all supporting documentation required by the furnisher to
substantiate the basis of the dispute.
(E) Duty of person after receiving notice of dispute. After receiving a notice of
dispute from a consumer pursuant to subparagraph (D), the person that
provided the information in dispute to a consumer reporting agency shall–
(i) conduct an investigation with respect to the disputed information;
(ii) review all relevant information provided by the consumer with the notice;
(iii) complete such person's investigation of the dispute and report the results
of the investigation to the consumer before the expiration of the period
under section 611(a)(1) within which a consumer reporting agency would
be required to complete its action if the consumer had elected to dispute
the information under that section; and
(iv) if the investigation finds that the information reported was inaccurate,
promptly notify each consumer reporting agency to which the person
furnished the inaccurate information of that determination and provide to
the agency any correction to that information that is necessary to make the
information provided by the person accurate.

[nicktheman]

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@bigtim wrote:

From the FCRA:

(8) Ability of Consumer to Dispute Information Directly with Furnisher
(A) In general. The Federal banking agencies, the National Credit Union Administration,
and the Commission shall jointly prescribe regulations that shall
identify the circumstances under which a furnisher shall be required to
reinvestigate a dispute concerning the accuracy of information contained in a
consumer report on the consumer, based on a direct request of a consumer.
(B) Considerations. In prescribing regulations under subparagraph (A), the agencies
shall weigh--
(i) the benefits to consumers with the costs on furnishers and the credit
reporting system;
(ii) the impact on the overall accuracy and integrity of consumer reports of
any such requirements;
(iii) whether direct contact by the consumer with the furnisher would likely
result in the most expeditious resolution of any such dispute; and
72
(iv) the potential impact on the credit reporting process if credit repair organizations,
as defined in section 403(3) [15 U.S.C. §1679a(3)], including
entities that would be a credit repair organization, but for section
403(3)(B)(i), are able to circumvent the prohibition in subparagraph (G).
(C) Applicability. Subparagraphs (D) through (G) shall apply in any circumstance
identified under the regulations promulgated under subparagraph (A).
(D) Submitting a notice of dispute- A consumer who seeks to dispute the accuracy
of information shall provide a dispute notice directly to such person at the
address specified by the person for such notices that--
(i) identifies the specific information that is being disputed;
(ii) explains the basis for the dispute; and
(iii) includes all supporting documentation required by the furnisher to
substantiate the basis of the dispute.
(E) Duty of person after receiving notice of dispute. After receiving a notice of
dispute from a consumer pursuant to subparagraph (D), the person that
provided the information in dispute to a consumer reporting agency shall–
(i) conduct an investigation with respect to the disputed information;
(ii) review all relevant information provided by the consumer with the notice;
(iii) complete such person's investigation of the dispute and report the results
of the investigation to the consumer before the expiration of the period
under section 611(a)(1) within which a consumer reporting agency would
be required to complete its action if the consumer had elected to dispute
the information under that section; and
(iv) if the investigation finds that the information reported was inaccurate,
promptly notify each consumer reporting agency to which the person
furnished the inaccurate information of that determination and provide to
the agency any correction to that information that is necessary to make the
information provided by the person accurate.

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So how should I go about this?  Send a letter to them stating this law?