Oh, I hate Capital One!

[ScoreBooster]

Well, after my discharge from CH7 in January, I started to clean up my credit. Cap One was reporting an old account as IIB on Experian, kept reporting a balance on it and had re-aged the account with a DOFD in 2007 so that it would now remain on the report until 2018.

So I disputed that info. On February 5th, the info came back as "verified" and "meets FCRA". Yeah, right...

On April 1st, I mailed them a copy of that report, telling them they are now in willful FCRA-violation and that they should remove the tradeline within 30 days or they will be sued. Now, get this:

Two days after they received my CMRRR-letter, they wrote me back that they would be reporting correctly as "account transferred to HILCO". If I wouldn't agree, I should supply them with a copy of my credit-report. Hello? They already got that in my initial letter!

So I called them and after 30 minutes, was transferred to their recovery-department. First, they were claiming that I received a letter and that's all they could do. I told them the letter was requesting info I already provided. After that, they claimed they had "no access" to what I sent them. When I asked how they could claim to be right without even being able to look at the copy of my report, they finally claimed "you need to talk to HILCO, they are handling the account now". When I told them that HILCO is not responsible for what CAP ONE is reporting to the bureaus, they simply transferred me to HILCO without my approval.

Oh, BTW, after the receipt of the letter, they changed the reporting to "transferred to HILCO". So you might think it's fine now? Wrong!

Since today, they are reporting the account as a charge-off, WITHOUT any information of a transfer. The BK-notation is gone as well. So right now, I'm looking at a credit-report, stating "charge-off" and a letter from Cap One from 4-6-2011, stating they would "correctly report as TRANSFERRED/SOLD to HILCO".

So my question is: How many "correct" ways of reporting does Cap One think exist? How can they send me a letter, telling me everything is correct AND change this "correct" info a few days later on my report? If it was transferred/sold, don't they have to report it as such?

[Anonymous]

Bump for my curiosity as well.

[Anonymous]

Not sure what information was used by the CRA to verify but I had a re aged account that was verified as well when I knew for a fact the account went deliquent in 2000... They were saying 2005. BIG DIFFERENCE.

Not sure if this will work but I found out we can request "a description of the procedure used to determine the accuracy and completeness. It sounds like they may have just had the OC say it was correct and that was it. For me they used a 3rd party that just verifies information. To me even worse but better for me I am hoping.

And they have to respond in 15 days from CCRM.

So, I sent my letter today and included my specific case an then this...

So based on  FCRA, Section 611 , I am requesting you provide me wit the following with in 15 days.

• The name of the creditor 
• The person’s name they verified the dispute with;
• The address; The telephone number; and
• The documentation used to verify the dispute

HERE IS THE FCRA RULES:

FCRA, Section 611:
 
(6)(B)(iii) a notice that, if requested by the consumer, a description of the
procedure used to determine the accuracy and completeness of the
information shall be provided to the consumer by the agency,
including the business name and address of any furnisher of
information contacted in connection with such information and the
telephone number of such furnisher, if reasonably available;
 
(7) Description of reinvestigation procedure. A consumer reporting agency shall
provide to a consumer a description referred to in paragraph (6)(B)(iii) by not
later than 15 days after receiving a request from the consumer for that description.

[guiness56]

Just a heads up.  EX is notorious for saying they don't have to provide you anything.