06-26-2010 09:12 PM
I leased a car through Infiniti Financial Services from 2001-2005. At some point during my lease I was 60 days past due. It is only on my Experian report.
I disputed the report last year ( May 2009)because I was pretty sure that the initial time of delinquency was over 7 years old. Infinity said the the way they were reporting it was correct. They responded in May 2009 and now my report says that the last time anything negative was reported on my report was May of 2009. It can only be this Infiniti lease because I have no other negative information. Are they justified in reporting this negative in May 2009 when the lease ended in 2005?
Is there anything I can do to get them to remove this negative information in May 2009 or is there anything I can do to get it removed from my credit report all together??
Thansk for your help.
06-26-2010 10:01 PM
It sounds like your dispute made them verify the information, which updated it. Pull your credit report(s) from annualcreditreport.com if you want more information - it sould also tell you when this account will be considered to be positive.
06-26-2010 10:06 PM
Your report, if obtained from the CRAs directly, will show you a payment history. You will be able to see what months they are saying you were late.
When you dispute, the report is updated to the current date making it appear to be a newer late. That is one of the reasons not to dispute. May 2009 is when it was updated. The actual late was earlier.
Unless it specifically says you were late in May 09 it is reporting correctly. If they reported an actual late and is annotated on the report as a late in 09, in the payment history, it is incorrect.
06-28-2010 12:03 AM
Look at your leaing contract.
Dates when you were actually delinquent, not any later dates reported by by the OC regarding any DOLAs. FCRA 605(a).
It does not matter when you opened the lease, or when they last reported their posting to your account.
I dont know when the 60-day late occured, but it can only remain in your CR for 7 years fiom that date.
The OC reporting cannot reset the date of drop of that delinquency from your CR., No way.
08-08-2010 08:33 PM - edited 08-08-2010 08:39 PM
Your dispute regarding the reporting of the prior late in your CR is not with the reporting OC, it is with the CRA for continuing to include it in any credit report they issue.
The FCRA, and specifically FCRA 605(a), does not place any restrictions on when a creditor can report to your credit file. If the information is accurate, it can be reported by the OC to the CRA at any time, with no 7 year limitation.
It is the obligation of the CRA to review your credit file, and to determine if any information contained therein has exceeded the limitations of FCRA 605(a) before they include that iunformation in any credit report they then issue.
If a monthly derog on an OC account has now passed 7 years and is still remaining in your CR, then your recourse is to file a dispute with the CRA for their non-compliance with FCRA 605(a)(5). The OC is not involved.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.