Inconsistent Reporting

[randaljon]

I have a closed charge-off reporting on TransUnion as closed in 2008 and charged off. But the same account is reported as charged-off in April of 2010. Strange thing is I disputed account on both credit reports and it was verified this way. This is inconsistent and I know for a fact the Experian reporting is wrong. Is this proof of an FCRA violation? Can I used this as leverage with company to have the account deleted from all CRAs?

[Booner72]

Direct dispute to the OC who is reporting, sending them the "proof", and send it CMRRR.  If that doesn't work, then file a BBB and/or AG complaint against the company reporting it wrong.

Who is the company?

[RobertEG]

First, be sure that the later reporting is not just a normal update.

Creditors regularly report to the CRAs, and in that reporting usually provide a complete statement of all prior actions and status.  They send a long, long string of data that includes all prior history and status codes, along with any changes.

Reporting a charge-off today that occured years ago is not necessarily inaccurate.  If it merely states that the current status rrmains the same, that "update" is not the reporting of a new charge-off.

Assuming there is inaccurate reporting, a dispute does not require the furnisher to delete the inaccurate reporting.  They have the option of simply correcting the inaccuracy.

Deletion is required only if the current accuracy cannot be verified.  Yes, dispute inaccuracies, but dont assume the result will require CR deletion.

[randaljon]

The account is HSBC.

They report the account was closed in 12/2008. The DOLA was 10/2008 according to TransUnion. This was "updated/verified" by TransUnion 12/23/2011.

On Experian they report the chargeoff as 4/2010.

There is also an inconsistency from my 12/2011 Experian Report in which they list $294 was written off. This was an "updated/verified" listing follow my dispute.

My 3/2011 Experian Report shows HSBC claiming $614 was written off. Again this was "updated/verified" from another dispute.

Account was closed long ago, charged-off and sold to another lender. So how can the written off balance grow from $294 to $614 from 12/2011 to 3/2012. And since TU and EXP both verified the account recently why is there no mention of 4/2010 on the TU report. Equifax also had no info about 4/2010 when it was still being listed on Equifax.

Robert says HSBC can just correct the reporting, but what about the damage the invalid 4/2010 CO date has caused to my credit?

[RobertEG]

They report the account was closed in 12/2008. The DOLA was 10/2008 according to TransUnion. This was "updated/verified" by TransUnion 12/23/2011.

Nothing precludes their execution of a charge-off after the account is closed.  Regardless, nothing provided indicates when they did a charge-off, only when they reported it.

On Experian they report the chargeoff as 4/2010.

When they chose to report the CO does not mean that is when it was charged-off.  A CO really has no fixed date of occurence.  It begins with an accounting measure....an adjustment of their books.  Then, followed by filing a tax return claiming the CO as a business loss.  The internal details of their charge-off actions are really immaterial to the consumer.  It was either charged-off or it was not.  The relevant date for credit report exclusion is not pegged to any date associated with the CO or the date it is reported, it is pegged to the DOFD on the account.

There is also an inconsistency from my 12/2011 Experian Report in which they list $294 was written off. This was an "updated/verified" listing follow my dispute.

My 3/2011 Experian Report shows HSBC claiming $614 was written off. Again this was "updated/verified" from another dispute.

Account was closed long ago, charged-off and sold to another lender. So how can the written off balance grow from $294 to $614 from 12/2011 to 3/2012. And since TU and EXP both verified the account recently why is there no mention of 4/2010 on the TU report. Equifax also had no info about 4/2010 when it was still being listed on Equifax.

Taking a charge-off does not excuse the debt, or cease accrual  of interest on the debt. 

Robert says HSBC can just correct the reporting, but what about the damage the invalid 4/2010 CO date has caused to my credit?

Arguably, if the CO was actually executed back in 2008, then you would have benefitted, not been damaged, by the delayed reporting to your credit file. The date of reporting is the date they chose to report, and is not invalid. 

[randaljon]

So a creditor can re-age an account whenever they want by changing the charge-off date? Not only do they report the CO date of 4/2010. They also report that date as "first reported", "date of status", and "date of last payment". It's odd.