Need help with Shady CRA's

[Anonymous]

I have been watching my credit for over a year now, and I am at my limit when it comes to some of the stuff I am seeing.

June 2008 - 580 

June 2010 - 587

No changes except 3 new accounts, 2 below 30% 1 of them at around 50%

Now here is why my credit score does not seem to go up (at least I think)

1. Service Credit Union

A BANK I used while stationed in Germany, decided to claim my account was overdrawn while I was deployed and sold my account to a collection agency.

This happened around 2006

The aforementioned bank reported the account as charged off and paid at the same time october 2007 - yeah it did not make sense to me either

The aforementioned bank continued to report negative information on a PAID account through 2010.. and as a collection. They were disputed multiple times, and all three bureau's reinserted or altered the information to make it worse

Yesterday I caught them in the act. I filed a new dispute with Equifax on the 21st and the next day they had definately fixed the account.. for the worse. Instead of a collection (which was already a fraudulent claim), the account was listed as a Foreclosure/Repo on the 22nd.. the only difference in reports was that the FICO from the 21st came from Equifax directly while the one from the 22nd came from myFICO. I lost 20 points yesterday, what should I do?

[Anonymous]

Do you have any records??... because your going to have to scrounge up whatever you have.  Hopefully someone can offer you better advice.  But i would starte with whatever you have in writing concerning the acct.  First if you have proof that this was infact a checking account you can use that to dispute the forclosure/repo cuz that stuff there does not appy to checking at all only a charge off can be in the realm of possibilty.  I mean it's not a house and it's not an automobile so it cannot get forclosed or repoed.

If this is the truth you may have to go around CRA if they are no longer willing to work with you.  I'd start with them to prove it was checking to eliminate that nonsense. 

As far as the original charge off, it's tough it's easier to dispute a cc in good standing because you can save your reciepts and the invoices.  However a bank you have to check your acct balances every now and again and then save all your debit card/atm transactions and check writing data around that time to prove you were in good standing during the time of the charge off.  If you do not have that information fighting gets extremely difficult.  Does not sound like it's gonna work at this point. You still can contact the bank and offer to pay for delete.  Right now i think however scummy you think they are, that's your best bet.  Even before you do another dispute try to get them to delete all the neg info with a payment, they could just be flexing their muscle.  Hopefully that works and in the future stay the heck away from that bank.

[Anonymous]

Just for clarification the credit union knows I do not owe them money the initial dispute between me and them is over the date and amount of the collection which had been reported as of 2007.

The major problem is that Equifax had also been listing the account as 90 days late 30 times these past 3 years which has severely set me back. Every time I dispute they do absolutely nothing but hurt it more.

for example, my credit score 2 days ago was a 597

------------------------------------------------------
Current Status: CHARGE-OFF
Account Owner: Joint Account High Credit:
Type of Account : Open Credit Limit: $0
Term Duration: Terms Frequency:
Date Opened: 02/2004 Balance: $0
Date Reported: 06/2010 Amount Past Due:
Date of Last Payment: 10/2007 Actual Payment Amount:
Scheduled Payment Amount: Date of Last Activity: N/A
Date Major Delinquency First Reported: 05/2007 Months Reviewed: 25
Creditor Classification: Activity Description: N/A
Charge Off Amount: Deferred Payment Start Date:
Balloon Payment Amount: Balloon Payment Date:
Date Closed: Type of Loan: Deposit Related
(overdrawn account)
Date of First Delinquency: 03/2007
Comments: Consumer disputes - reinvestigation in progress
Opened Balance Date
Reported
Past
Due Account Status Credit
Limit
81-Month Payment History
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2010 CO CO CO CO CO
2009 CO CO CO CO CO CO CO CO CO CO CO CO
2008 * * * * * CO CO CO CO CO CO CO
2007 * * * * CO CO CO CO CO CO * *
2006 * * * * * * * * * * * *
2005 * * * * * * * * * * * *
2004 * * * * * * * * * * *

After my dispute yesterday 587 FICO:

(Note these changes occured in less than 24 hours.. the above came from equifax, the one below from fico.. both times I pulled FICO scores along with the reports)

Status as of Jun, 2010
Date opened Feb, 2004
Date of last activity Mar, 2007
Date closed Not Reported
Account number Not Reported
Loan type Not Reported
Largest past balance Not Reported
Terms Not Reported
Account Type Open Account
Account holder Joint
Scheduled payment amount $0
Descriptions
Consumer disputes - reinvestigation in progress
Balance Current Status Past Due Amount
$0 Bad
debt/collection Not Reported
Seven year payment history
30 days late 0 times
60 days late 0 times
90+ days late 30 times (May 2010, Apr 2010, Mar 2010, Feb 2010,
Jan 2010, Dec 2009, Nov 2009, Oct 2009, Sep
2009, Aug 2009, Jul 2009, Jun 2009, May 2009, Apr
2009, Mar 2009, Feb 2009, Jan 2009, Dec 2008,
Nov 2008, Oct 2008, Sep 2008, Aug 2008, Jul 2008,
Jun 2008)

either Equifax messed up or the bank is really trying to destroy me for some unknown reason.

I read somewhere that Equifax knows it has a bug that causes these errors, I am starting to think they are just being negligent in their handling of consumer information. If this is not an accident then I really feel bad about the way business is handled in a country I served for.

[Anonymous]

oh and I have been in communication with the bank over the last few days and they have been looking into the incident prior to yesterday's Equifax change.

They did not tell me they were going to make account changes, but they have been unresponsive the last 2 days in returning my phone calls. They did verify the account as paid over the phone as of oct of 2007 (which is wrong, but I am more concerned about the new info).

[Anonymous]

ok, i see what they're doing.  First and foremost keep doing what your doing and work something out with the bank.

What's happening with you is simple.  The bank is claiming by record that they kept your account open until june, this year.  It's hard to argue that they charged you off earlier because you will never have proof of when they actually charged you off to another entity.  Your only grounds would be that you were current during the date of first delinquency.  They are claiming they just charged you off,  that's why all those months you been hit with 90 day after 90 day.

You may have a recourse if you recieved a letter from a CA.  If a CA has sent you a dunning notice then you can use that as proof that a charge off has occurred earlier than this month (at the time of the dunning notice or if Ca is willing to cooperate the time their files show that they took on the debt, you would need this in writing though).

Keep in mind this is not normal.  Normally oc's don't do anything near this.  If you checked your report they don't list a closed date even on the first report with all the co's they do not list a closed date.  So they are never saying that the account was not still open so anything before jun 2010 is fair game for late penalties.

In short ,if im getting to wordy i apologize, they are claiming even though on record you have been insanely delinquent since 2007 (basically three years without zeroing out your balance), they have not discharged your debt until this month.

edit: two things

1.) It's still not reporting closed, so possible this time next month ya get hit with another 90 day late, which pardon me i don't mean to poke fun but how can you keep having 90 day lates without moving on to 120 and 150.  The report is funny (i'm not poking fun at you i'm just saying like you said the reporting is bogus)

2.) I'm wondering due to the fact that they are a german bank has something to do with not pawning the debt off to a local CA.  Which is why you're going through all this in the first place. 

[Anonymous]

spoke to a NACA attorney today regarding this matter and he was as confused as me, especially when I showed him the myFICO equifax report that showed the accounts as in Repo/Foreclosure - how can a bank account ever be a repo or foreclosure..

As soon as I left the attorney's office (he did not want to delve deeper without looking at hardcopy reports through the mail), the bank called me to inform me they had completed the dispute and all information was accurate.

I asked her about the collection/repo

she told me that they had reported all correct info, and that they pulled all 3 of  my reports (supposedly legally?), and that it was only reporting to Equifax

- I asked her about the collections - repo - foreclosure marks that were showing up as my pay history to a closed account for 3 years

- She informed me that it had to do with Equifax and they would furnish any information I would like regarding their reporting and my account.

[Anonymous]

---

@Anonymous wrote:

spoke to a NACA attorney today regarding this matter and he was as confused as me, especially when I showed him the myFICO equifax report that showed the accounts as in Repo/Foreclosure - how can a bank account ever be a repo or foreclosure..

As soon as I left the attorney's office (he did not want to delve deeper without looking at hardcopy reports through the mail), the bank called me to inform me they had completed the dispute and all information was accurate.

I asked her about the collection/repo

she told me that they had reported all correct info, and that they pulled all 3 of  my reports (supposedly legally), and that it was only reporting to Equifax

- I asked her about the collections - repo - foreclosure marks that were showing up as my pay history to a closed account for 3 years

- She informed me that it had to do with Equifax and they would furnish any information I would like regarding their reporting and my account.

---

From the information you given thus far, they still own the account.  That right there gives them legal permission to pull your credit reports.  They are a current lender.

Get that paperwork. Right now you have a charge off they written you off as a bad debt, normally it's after six months of no pay you went three years.  It does not seem like they sent into collections.  You can ask the bank for proof of bank account, proof that they still own the rights to the debt and have not turned the debt over to  a collection company.  That will cover you for collection.

http://www.jud.ct.gov/lawlib/Notebooks/Pathfinders/Repossession2003.htm

I did some research landing me on this website. Now this is only ct so you might want to go to  a federal gov site listing the definition of repossession.  I got into a long winded argument before about who equifax, a federal entity is legally obligated to.  In short a repossion is any secured transaction of lending.  Where the defaulting of such obligations will result in any goods or things of value being taken in return by agreement as collateral for the debt.  A checking account is not a secured debt at all it is not tied to any of your possessions.

Foreclosures only concern mortgages but you can ask that lawyer to give you something in writing prooving the legal definition of a foreclosure and the legal definition of a repossession.  Then send in these definitions to EQ for your dispute along with proof that this is indeed a checking account which doesn't fall under either category.

This is my longwinded way for you to prove that a foreclosure/repo stamp equifax gave you is not accurate information and should be deleted on that merit.

The rest you work out with the bank,  PFD.  Hopes this helps.