Pinnacle Financial Question

[Anonymous]

hello,

I have a letter showing that I have paid my balance with Pinnacle Financial. It still shows a balance and I paid over a month ago. Would it be jumping the gun to dispute the open and owing status with the CRAs? It has been paid in full. TransUnion report from my free annual one shows it will age off in a few months. I just didn't want them to try to collect on it after it disappeared.

Thanks for your thoughts. It's one of two that I have paid and am waiting to fall off. Last two open collections so eager for them to update.

[RobertEG]

I would not immediately dispute.  You can likely avod a pending dispute flag.

The obligation to have reported the update clearly resides with the creditor, without your need to file a dispute.

Under FCRA 623(a)(2), a furnisher is required to promptly update any information so as to maintain its current accuracy.

Promptly is not specifically defined in section 623(a)(2), but reasonably would be in their next regular reporting to the CRA.

I would call or send them an informal communication reminding them of their obligation to have promptly updated the balance to $0, status to paid, and collection as closed.

If they dont comply in their next reporting cycle, then I would proceed with a formal dispute.

[Anonymous]

Thanks. I called and they told me they have up to 90 days. I think it is so close that maybe I should ask for early exclusion. I'll have to double check my report. Should at least be within TU window