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RPM Collection removed

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smoop88
Regular Contributor

RPM Collection removed

I disputed a sprint chargeoff that i paid off. however, this collection was still showing on my EQ and EXP and is the only collection reporting on my reports. I was able to dispute this with equifax with success. I have 2 questions for everyone. 1. how much of a jump on my equifax can i expect from having this removed and 2. will this collection be removed from my experian and if so what is the boost on that? The collection went into RPM on DEC 2011 and was last updated DEC 2014, but was paid in mayish of 2012.

Message 1 of 7
6 REPLIES 6
RobertEG
Legendary Contributor

Re: RPM Collection removed

The reason why the collection was deleted by the CRA wil determine whether it will or should be deleted withe the other CRAs.

 

The CRA forwarded a copy of your dispute to the debt collector for their investigation of the disputed accuracy, and their response.

The CRA is then responsiblr for considering any response for the debt collector, and then making their final reinvestigation and determination of the final results.

 

If the debt collector did not respond back to the CRA, they made no affirmative stastement that the information was found to be inaccurate, but they provided no bais for the CRA to make any determination that the information is accurate,  Absent any basis for verification of accuracy, the CRA is required to delete.

In tht event, the dispute is limited only to that CRA.

 

However, if the debt collector, upon making their innestigation, determines that the information is in fact inaccurate, they are required under the FCRA to report thast result bck to the CRA that is handling the dispute, and to additionally report deletion or correction with all other CRAs to which they have also reported the disputed information.

The furnisher thus bears the responsbilitly to correct or delete with all CRAs.

 

It is not common for a furnisher to affirmatively state that the reporitng is inaccurate.  They either correct, verify, or dont respond.

Whtehr the information is required to be deleted with all CRAs depends upon the finding by the furnisher, to which the consumer is not necessarily advised.

The furiisher may simply not have responded back to the CRA.  In that evernt, you would need to dispute with the other CRAs to obtain deletion.

 

Message 2 of 7
smoop88
Regular Contributor

Re: RPM Collection removed

Thanks RobertEG great information
Message 3 of 7
Anonymous
Not applicable

Re: RPM Collection removed

I had a derogatory removed from RPM, Equifax was the last to remove it. Maybe 1-2 months late. But I got a good 50-60pt jump I believe.
Message 4 of 7
smoop88
Regular Contributor

Re: RPM Collection removed

just looked at my newly generated report from equifax the collection removal has been reflected but an 18 point drop i was wondering how i dropped just didnt look at the report.

Message 5 of 7
Anonymous
Not applicable

Re: RPM Collection removed


@smoop88 wrote:

just looked at my newly generated report from equifax the collection removal has been reflected but an 18 point drop i was wondering how i dropped just didnt look at the report.


Last collection gone usually means rebucketing. That can mean an initial drop, usually if you are carrying balances, but it also means much more potential growth in the short term as your "ceiling" is raised.

Message 6 of 7
smoop88
Regular Contributor

Re: RPM Collection removed

Your spot on bc only this month i have terrible utilization bc of xmas ive been playing around with simulator and it said for exp paying all my balance is a 25 pt boost tu 40 pt boost eq 20 pt boost but i never put my eggs in the simulators even if its FICO also macys is killing me 6 months of missing on time payments for all my reports but holding me back on eq
Message 7 of 7
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