Need help with bureau disputes for totally inaccurate and unfair late reporting??

[kittywitty]

long story short i was ripped off in a scam between the finance mgr at car dealership & wells fargo dealer services. bottom line car dealer got my husband approved for A SIMPLE INTEREST car loan for 75 months after paying one or two payments wells fargo called and told me my due date had to match the contract and it had to be changed so i had to pay 2 weeks eariler. now after i paid off the car and someone else totalled it i am unable to buy another due to ruined credit from wells fargo.  after sending my documents to lexington law and them telling me to contact a local attorney i am finding they didn't just changed my due date they changed from simple interest to compound interest along with changing my due date. so now my credit reporting is not accurate at all and not fair to say the least. experian shows me 90 days late in jan & feb 2014 but yet when you look at the payment history none is reported but it shows a scheduled payment due of $287 with a date received november 30 so basically confirming what a credit repair guy said he told me i had no payment due from nov-feb b/c i made 2 payments that month paying over $1,000 so with a compound interest loan means loan is paid unlike a simple interest loan. well too bad they kept charging me that $287 plus late fee's and interest till february. so they changed my simple interest terms into compound interest then changed my due date but don't give me compund interest terms either. i am sick of all the disputes i just want my flippin life back.  the credit reporting is not accurate to say the least b/c they had already reported it as a simple interest loan before they changed my terms. when i pull from quizzle they show me 90 days late in march which by march i had already paid off the loan. equifax is also reporting opened 7/1/07 3 weeks before i bought the car. orginally it was reported opened 8/1 so they changed that date as well. i just want it deleated off entirely as wells fargo will never report fairly. if i can't get it deleated by the bureau's i am going to file complaints everywhere. bottom line is they broke the law more then once and have ruined my credit and refuse to report fairly at all. i've given up on the presidents office they are just a bunch of crooks and it is that bad. how can i get the bureau's to just remove the entire tradeline? i will get an attorney if i have to i am soooo mad i just want my life back i am sick of calling bureau's who do nothing, i am sick of paying for lexington law, i am sick of paying for an inaccurate credir score. wondering what my best grounds for dispute are? at this point there is no way to correct it i just want it removed as it is not accurate and nothing is being reported fairly at all. the 3 bureau's don't even match each other.

[RobertEG]

The FCRA dispute process is not a legal fact-finding process that requires production of documentation, or has any judge empowered to resolve differences.

It is basisiczlly a process that compels them to investigate and make a determination.

I woudl hire an attorney and get the contested issues before a judge.

[kittywitty]

so i don't have grounds for dispute because my contract does not match the terms given to me?  if they didn't accept a payment under principal interest then why is my credit reporting set up as simple interest loan. i told wells fargo and bureau's the contract is null and void b/c changes were made and they want to tell me now it was a simple interest loan. whatever the case the credit reporting is not accurate or even considered fair.

[RobertEG]

If you dispute, the furnisher is required to conduct a reasonable investigation and report their results, either back to the CRA or, if a direct dispute, directly to you.

They are not required to prove their determination, as their are no judges under the FCRA dispute process, so you will end up with a dispute, and verification by the furnisher of the accuracy of their reporting.

You need a third party to compel the production of all relevant evidence, and a empowered to make a binding decision as to any contested issues.

That third party is the court.

[Anonymous]

First off, your dispute is ONLY with Wells Fargo Dealer Services, not with the CRA's. The CRA's are obligated to report EXACTLY what Wells Fargo tells them to. Disputing 'anything and everything' will get you nowhere.

The simple interest vs compount interest - if the payments are kept the same and the number of payments are kept the same, then this mainly has the effect of 'front loading' the interest, making early payments go more to interest and final payments going more towards principal. Also with a simple interest loan an 'extra payment' is usually applied to the next month, whereas with a compound interest loan any extra amount paid goes directly to reduce principle, and does not affect the next months payment. I think this is where your dispute arises from. What the CRA's are reporting concerning 'simple interest' is not really relevant IMO. Did WFDS inform you early on that the loan was to be converted from simple to compound interest? Did they ever send you and ammended contract? What does the contract you actually have say how extra payments are to be applied? Simply because the terms of the loan were changed does not necessarily make it invalid - the point is whether or not you were informed of the change, and whether you were sent a copy of the new contract. These are the points you need to bring up with an attorney. You simply are NOT going to fix this with disputes.

[kittywitty]

so far my argument is they are reporting a high balance of the purchase price of the car which is not accurate as with a compound interest loan the interest paid would be included in the high balance like my husband auto loan so therefor it is not accurate. i never received anything in writting when they changed the terms my contract says no oral changes are binding and any other changes had to be in writting so as far as i am concerned this contract is null and void. legally i do not owe them more then $28125.00 and i paid over 30,000 so therefor i am not legally late. next argument is if i had compound interest then when i paid over $1,000 in november i legally owed them nothing but that is when they want to say this is a simple interest loan so i still owed. so i am not even given the terms of a compound interest loan. next argument is if my husbnad qualified for a simple interest loan at all then why did we have to pay 10.54 % interest on a compound interest loan which proves my point i have been scammed by the dealership and the lender and it was a joint effort.

[Anonymous]

No, it does not make the contract null and void. It makes them *potentially* guilty of breach of contract. There is a big difference. You NEED to contact an attorney that will file a breach of contract suit against them, and hopefully a judge will order them to abide by the original contract.

CONTACT AN ATTORNEY. You may be able to find one through NACA at www.naca.net. That is the best advice we can give you here.

[kittywitty]

i think i found my grounds for dispute. they want to report as a simple interest loan b/c my contract says so then i have 75 months not payments so they will need to be fixin somethin. they tried to tell me my months started the day i bought the car well my contract says i have 75 months beginning aug 22 not july 23 so yay me i finally figured out how to argue this. not to mention my next to the last payment was paid before the next statement date therefor under compound interest terms the car would be paid for. either way those 90 day lates are coming off and hopefully w/o an attorney. i'm gonna have terms of one loan or the other but not parts of both types of loans. geesh what a waste of my life i've spent on this matter.