Strange letter after contacting CRAs about how they verified

[wHiTeSoL]

I submitted a dispute with all 3 bureaus about an old Cap1 account of mine i believed was reporting incorrectly, (dates, amounts, lates, everything). They all came back verified, after that i sent them all letters asking for their method of verification (because I knew for sure at least a few details were wrong) and instead of getting a response from them I get 3 separate letters from capital one regarding the same account. ( Out of SOL, CO account, sent to CA who got paid and deleted)

Letter 1 says,

We're writing to you about a dispute you sent to one of the credit bureaus for you credit card account ending in XXXX. However, the information the credit bureau sent to us may not have contained everything needed for us to fully understand the reason for your dispute. (It begins to ask for things like supporting documents like my credit report and a copy of this letter.

Letter 2 says,

Thanks for contacting us about your credit bureau report. In order for us to research your request, please send us the information listed below by 9/2/13

• supporting documents
• copy of this letter with full 16 digit account number written in the space provided, full 9 digit SSN, the exact nature of your dispute
• a copy of the original correspondence you sent to us

Please not we cant take action on your request until we receive this information.

Letter 3 says,

Thanks for contacting us about your credit bureau report. We've verified that the information on your credit report matches the information in our records. The above referenced account is reporting correctly to the credit reporting agencies as transferred to another lender. The lender that this account was sold to is XXXX. In addition once a month we send information on the status of your account to the major credit reporting agencies.If you still believer we've supplied incorrect information to the credit reporting agencies, please send us a copy of any documentation that supports this, such as your credit report.

My questions are

1. Should I respond? I thought the burden of proving it accurate lies with them.

2. Can any negative actions arise from responding/not responding?

3. Why would the OC reach out to me when i disputed it with the CRAs?

 Thank you to everyone for being patient with me and helping out. I know i seem to have a ton of questions. 

[DaBears]

Cause you filed a dispute of their tradeline. What they are telling you is to file a direct dispute with them and any supporting documention to support your dispute. 

[RobertEG]

They are actually doing much more than required by advising you that they will accept additional information regarding the dispute.

In response to any dispute, be it a direct dispute or a dispute send to them by a CRA, they are required to conduct a reasonable investigation, and make a determination consistent with the results of that ivnestigation.  They are not required to support their determination with documentation, or prove the accuracy.

Once they have verified, you have their statement that they have documentation to support the accuracy of ther reporting.  Dispute over.  It is only a violation if they either did not conduct a reasonable investigation, or if the results of their investigation do not support their verification.  The consumer has no way of determining such issues without compelling them to provide their documentation, and only a court can compel them to do so.  Requests for methof of verification only apply to a CRA, and only as to who they contacted and whetther verification was provided.  It does not include a requirement for supporting documentation.

They can, under the rules implementing the direct dispute process, simply dismiss any subsequent direct dispute on substantially the same basis without any investigation unless new issues are raised..  It seems they are willing to consider if additionaly information is provided.  I view their responses as positive.

[Vettecor]

I wouldn't provide any information.  Since they can't provide the information that "YOU" requested in regards to the account, they should DELETE.

[wHiTeSoL]

I appreaciate all your replies, you guys are truly awesome!

[RobertEG]

The prior dispute was stated as having been verified by the furnisher.  That concluded the actual dispute.

Verification of a dispute requires that the furnisher conduct a reasonable investigation of the asserted inaccuracy, and make a determination based on the results of their investigation.  There is no requirement that they provide documentation supporting their fnding, or "prove" the accuracy.  That is simply not part of the dispute process.

Their letter appears to be a recognition that disputes filed through a CRA are referred to them via the CRA e-Oscar process, which does not include all supporting documentation of arguments presented to the CRA,  I view their responses as willingness to consider information that may not have been provided to them.

I dont see any violation on their part, I see willingness to reconsider.

I would not refuse to provide additional supporting documentation to them.

[guiness56]

It just seems odd that the OC cannot provide what they should already have,  Like payment history.

[Vettecor]

100% agree.

[Smooth954]

So a creditor can falsely report inaccurate information about you without having to prove its accuracy just because you have done business with them? Why are they not required to prove the information they are reporting to be accurate? Why should the consumer be honest if the creditors can be dishonest??

[HiLine]

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@Smooth954 wrote:
So a creditor can falsely report inaccurate information about you without having to prove its accuracy just because you have done business with them? Why are they not required to prove the information they are reporting to be accurate? Why should the consumer be honest if the creditors can be dishonest??

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In reality, all your credit reporting is performed on a voluntary basis. It is not required of the banks, and is certainly not regulated.