I have been late on paid off account for two years

[psjhvac79]

I paid off my Wells Fargo installment. I admit I was 30 days when I made a lump sum paid off. They updated as paid in full and balance as 0.

They left my account status so it shows I'm 30 days late every month for the last two years. I know it's killing my score.

I have disputed many times and they say they are reporting correctly. I filled a CFPB complaint. I just knew it would work. Nope, they said they are correctly reporting and will not revise my report for respect for the credit community.

I don't dispute my payment history but I can't be late on a paid off loan. I mean there is to pay. Can someone point me to law or something that's I'm over looking. They also list a DOFD but I was never over 30 dates late. Someone please help.

[gdale6]

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@psjhvac79 wrote:
I paid off my Wells Fargo installment. I admit I was 30 days when I made a lump sum paid off. They updated as paid in full and balance as 0.

They left my account status so it shows I'm 30 days late every month for the last two years. I know it's killing my score.

I have disputed many times and they say they are reporting correctly. I filled a CFPB complaint. I just knew it would work. Nope, they said they are correctly reporting and will not revise my report for respect for the credit community.

I don't dispute my payment history but I can't be late on a paid off loan. I mean there is to pay. Can someone point me to law or something that's I'm over looking. They also list a DOFD but I was never over 30 dates late. Someone please help.

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You have no other place to go except a court of law. You will have to sue them for violations of the FCRA and I would do so only after consulting a lawyer.

[RobertEG]

In your dispute, did you dispute the fact of the delinquency itself, or of the status .

You appear to have a clear no-brainer, so there is clearly a disconnect.

If you paid and the account was 30-late, then the current status would have been updated to paid.

No additional delinquencies would occur.

The only possibility of their reporting being accurate is if it relates to what is called your Payment Rating.

When a delinquent account is returned to good standing or paid, the current status must reflect as such.

However, the delinquency status prior to the change in current status is retained under a code called your Payment Rating.

Is the reportng that was verified that of the Payment Rating, which would be accurate in showing the prior delinquency status.  That is its purpose,and would be of no concern.

[psjhvac79]

Thank you both for your replies. Gdale6 I also think that's where I am with this TL. I think I'm going to try and dispute this one time and see if they will verify it again. Unfortunately, for them I have kept very good records.

RobertEG, I have disputed the status itself. I asked for my account /current status to be updated to paid or paid as agreed. They just refused to do so. When I pull my report it shows 30 days delinquent under status.

Also I don't understand why they are listing a DOFD. As if the account charged-off when I was only late 30 days. Ju

[psjhvac79]

RobertEG, As I mentioned before I am going to dispute this one more time. I feel I made it clear to Well Fargo that I am not disputing the payment history but rather the status of the account. Is there some law or something to support my dispute? Including there DOFD?

What is the difference in account status, payment rating and payment history? Just want to be extra clear when I dispute this for the last time and possibly consult a lawyer on the matter.

[RobertEG]

Current status is a snapshot only of the status of the account as of the date the status is reported.

It reflects no historical information.  An account that is paid with no current delinquency cannot have a current status of delinquency.  Duh..........

Payment Rating reflects the delinquency status prior to when the account was paid or returned to good standng.

Payment history profile is your status each month.  It shows all monthly delinquencies by age.

DOFD is irrelevant to your situation, as it is only required to be reported to a CRA when a furnisher has reported either a charge-off or collection.

While an account has a DOFD once it has become delinquent, it is not required to be reported unless a CO or collection has occured.  See FCRA 623(a)(5).

Ignore that issue in any dispute, as its only purpose in credit reporting is to calcualte the credit report exclusion date of a collection or CO.

No need to dispute a reporting that is both irrelevant and not technically inaccurate.

The relevant FCRA provision is FCRA 623(a)(2), which requires a furnisher of information to promptly update the information as necessary to reflect its current acccuracy.

In sending a renewed dispute, it is highly desireable to include some new documentation to avoid its dismissal.

A dispute that is substantially the same as a prior disipute can be dismissed without investigation as frivolous or irrelevant.

However, a dispute is not frivolous or irrelevant if it includes new information not previously submitted.

Perhaps a copy of a bank record showing payment was made.  Something concrete.

[psjhvac79]

Thank you so much RobertEG. I completely understand your explanation.

[Momof5]

Chase Manhattan Mortgage did this to me.  It took an ITS, sent to Chase to get it fixed.