Toyota GW letter backfire

[Anonymous]

Well I sent a GW letter to Toyota financial services and now my reports are showing a dispute. Has anyone had any luck getting the dispute removed? I called them and told them I never disputed the validity of the late but they really weren't caring what I said. Any advice would be appreciated. This is the first GW letter I've ever sent and it kinda sucks.

[Anonymous]

Never had this happen but it sounds as if it could just be a matter of someone getting confused to the intent of your letter based on how you worded it or a CSR with no idea how to answer the letter and defaulting to hitting the dispute button I wouldn't get too worried so long as you had settled everything you are sending GW letters for, in theory all that would happen is they validate the existing information and in the end nothing changes or maybe the derog gets deleted. That being said perhaps those with similar experience to yours could chime in, but in the meantime I would keep a close eye on it but not panic just yet.

[gdale6]

Happens a lot, just call the CRA it appears on, tell them you are disputing nothing and want the comments removed

[Anonymous]

So I received a letter from TFS stating that the letter I recently sent them regarding information I believed was incorrectly reported was in fact correct. I called the number on the letter and explained I never stated anything was incorrect but I actually stated that I was indeed at fault for making the late payment. I said I would like the dispute comments deleted and he said there was nothing they could do because I indeed did dispute it! Ugh. So do I have to go to each CRA to have the comments removed? Will they usually remove them? What is the best route: call, mail or can I dispute it online? Thanks!!

[Adkins]

I would do mail, certified return receipt. Be very specific on your wording so they understand. I'd also start a good will letter campaign and do the saturation technique. 

[Anonymous]

A goodwill letter can in fact be considered a dispute.  Any correction of any reported material may legally bind the creditor to having to follow the laws and regulations and inform the CRAs of your request for a modification.

I disputed an $88 charge on my Discover card and they updated my CRAs to show "in dispute" during their investigation of the charge.  After a month, they denied my dispute because the vendor refunded me instead.  They updated my reports to show the dispute closed.

I wasn't disputing anything on my credit report, but the new laws require lenders to inform the CRAs of disputes, and asking for goodwill corrections may be construed as a dispute even though it isn't.

This "fact" has been known for years but few people mention it.  Here's at least on post from 2015 with a similar issue: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/My-Goodwill-letter-prompted-a-dispute-code-Ca...

2013 thread, same thing: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Goodwill-Letter-dispute/td-p/2480569

I bet I could go back to 2009 and find similar notations regarding a goodwill request being reported as a dispute.

When applying for a mortgage, you have to be extremely cautious about anything having to do with contacting other creditors, unfortunately.  Even for goodwill adjustments or disputing a fraudulent charge!

[Anonymous]

So should I just do nothing then? Leave the dispute marks on the account? We do not have to apply for our mortgage until mid March to April. There are no open disputes on our credit reports, just the closed Toyota one. We paid off our truck and I think the 1 late was from when my Grandma was in hospice and I really wasn't paying attention to much. I normally have everything on autopay but I had taken time off work to care for her and I wanted to control when things came out. No collections but there is a charge off from WF for $254 that was disputed last year. It is set to fall of 1/2018. I truly believe it is not correct but I'm not messing with anything anymore. I'm just waiting it out. Thanks for the responses!

[Anonymous]

Once the dispute investigation is over they will update it and close the dispute.

In my notes, I've seen more than a handful of folks who got a dispute notice after goodwill but then the goodwill removed their lates and the dispute was closed.

[RobertEG]

If the creditor interprets your communication as a dispute, then it must thereafter be treated by the creditor as a direct dispute under the provisions of FCRA 623(a)(8) and the implementing regulations for the direct dispute process set forth in 16 CFR 660.4.

More specifically, they must conduct and conclude a reasonable investigation of the disputed information within 30 days , and send the results of that investigation to you, the consumer, within 5 business days thereafter.  They are also required to promptly notice the CRA that the "dispute" is concluded.  You then no longer have a pending dispute, and it should not be an issue to future creditors.

Thus, the issue should become moot within 30'ish days.

If you still wish to pursue removal of any and all references to any dispute as being in error, you can file a complaint with the CFPB or bring your own civil action seeking removal.