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Regular Contributor
aot2002
Posts: 199
Registered: ‎03-11-2009
0

credit items just disappeared ?

I've been pulling my credit using creditkeeper.com for a year now and things seemed ok but as I disputed over the year I've noticed that things just all of a sudden drop off experian but I know the DOFD is not to come off until another year.

But what's strange is that my friend is using creditkeeper for the last 6 months and they had the mortgage fall off all three reports and then come back on just one but it was a positive account?

WTF is going on... credit keeper insists that it's not anything they are doing and they do not modify what comes from the CRA's, now today I get a letter that a account in dispute does not exist on my CRA I can't pull a new report until another 10 days but I'll bet it has fallen off and I know this should not be happening.

These are not collection accounts but original creditors and widely known one's.

 

I'm not entirely sure if creditkeeper is to blame or things are just wacky or what, I've never seen this before...can anyone explain?

Mega Contributor
RobertEG
Posts: 18,462
Registered: ‎03-19-2007
0

Re: credit items just disappeared ?

You have a credit file with each CRA, and then you have credit reports they issue.  Very different.

 

The credit file is the repository of information reported to  a CRA.  There are NO limitations, other than that the information be accurate, on how long things can continue to reported to your credit file, or when things are deleted from your credit file.  No DOFD or any other derog is deleted from your credit file at any required time.

 

Credit reports are a different matter.  They are summariies of certain information that can legally be extracted from your credit file, and then provided to a party who wants to access your CR.  FCRA 605(a) and (c) set restrictions on the CRAs on certain items of information that they may extract from your credit file, and then include in a CR.

Those restrictions are not absolute.  Total exemptions for certain items exist under FCRA 604(b).

If an item is under dispute, it may result in temp blockage from your CR, but it is still in your credit file.

 

Credit scoring is a third tier consideration of which the CRA is not neccesarily a party to.  For example, credit inquireis are included in your credit file.  CRA policy is to continue to incldue them on your CR for two years, but FICO policy independently has decided not to include them in your credit scoring after one year.

 

Reinsertion of previously deleted information is controlled under FCRA 611(a)(5)(B).  It relates to information deleted from a consumer credit file as the result of favorqble results of a prior consumer dispute under FCRA 611(a).  It does not regulate inclsuion in a consumer CR.

CRAs may have policies to temporarily suspend CR inclusion of certain item in your credit file from inclusion in your CR, such as accounts reported as being under dispute.

But that alone does not make later re-inclsuion in subsequent CRs as improper.

 

 

Regular Contributor
aot2002
Posts: 199
Registered: ‎03-11-2009
0

Re: credit items just disappeared ?

your a wealth of information Robert, If you were located locally I'd buy you lunch for all your help :smileyhappy:

 

 

>>There are NO limitations, other than that the information be accurate

 

Do disputes with CRA's work off from the credit file or Credit report I presume the credit file?

If yes then if they send me a letter stating the account does not exist then it's possible the creditor removed that account from my credit file because if I don't get a letter it's been deleted then the account is not on my credit file.

Correct or no?

 

 

Mega Contributor
RobertEG
Posts: 18,462
Registered: ‎03-19-2007
0

Re: credit items just disappeared ?

[ Edited ]

Do disputes with CRA's work off from the credit file or Credit report I presume the credit file?

If yes then if they send me a letter stating the account does not exist then it's possible the creditor removed that account from my credit file because if I don't get a letter it's been deleted then the account is not on my credit file.

Correct or no

_________________________________________________

Neither,, disputes relate to your showiin of inaccuracy of what was reported, and not the fact of its reporting,  That is what a dispute is.

Disputes work off of what they have reported, without evidence at the time of thier  reporting, and your contrary evidence of inaccuracy, asking them to provide evidence of its accuracy.

First of all, I would NOT  file any dispute of accurate credit reporting with, or through the CRA.

Disputes are of the accuracy of information in your credit file.CR.  So they can never just use what is in there to deny a dispute.

No CRA is ever in a postion to rule on the accuracy of informatiln posted to them by their customers, and should never be a party to a dispute between the consumer and the party who posted the information as to the basic accuracy of the reporting.

There are two dispute processes available to you. 

The stupid (in my opinion) dispute process is the one set forth in FCRA 611(a)(1).  Dispute thrpugh a CRA.  Dont use it....

That is where you dispute through the intermediary of the CRA.  This whole process is, for the most part, a rubber-stamp joke.

Why? I could go on for hours, but here are the essentials.

Delay of at least five days on the front end on their referral of your grounds for dispute to the party (creditor/debt collector) of the disputed information.

Ability of the CRA to condense your entire reason for dispute to a three-digit code, without accompanying documentatilon, to the party at dispute.  They do this through their automated e-Oscar process.  Then the reporter of the informatioln responds back, through the same automated e-Oscar system, with a three digit code,  their "investigation" results.  Then, if you read FCRA 611(a), it is a "reinvestigation" decision by the CRA, who then has the right to convey a decision of their choosing.

If that process appeals to you, then by all means use it.  But it has been a process that has been fought for more than a decade now, as being obsolete and unfair.

But here us how that process has been, in my opinion, totally repudiated  by more than a decade of consumer advocacy.  It started back in 1998 when Congress amended the FCRA to permit consumers to totallly bypass the CRAs when disputing credit reporing by one of their creditors or a debt collector.  It was compromise legislation, as most congressional legislation is.  It was legislated as FCRA 623(a)(8), as the ability of a consumer to file a dispute directly with the party who posted the disputed information, thus bypassing, entirely, the arcane process of disputing through the interediary of a CRA.

Congress put strong langauge in implemtation of a new "direct dispute process" into fed statute back im 1998. but to get the legisation approved, they conceded, under the enacting implementation, to insert a sections 623(a)(8)(A) and (C), that it would not become effective until final implemening rules were published  by the relevant oversight agencies.

On July 1, 2009, that finally happened.  Final rules, with the weight of statute, were published in the Federal Register at 31484 Fed Reg/Vol 74, No. 125, with an effetctive date of 7/1/2010.

Those rules have now been codified into the Code of Federal Regaulations at 16 CFR 660.4.

You have the clear and superior choice, as of 7/1/2010, to kick the obsolete CRA dispute process to the curb,and file a direct dispute with the party who directly reported the disputed information.

Suggested sample direct dispute letter:

“This is a Notice of Direct Dispute with you, under the provisions of FCRA §623(a)(8)(D), of the accuracy of information you have reported to my credit file.

       ►       (If sent to a debt collector, (CA), it might  be beneficial to also include the blurb:

       ►  “This is a direct dispute of credit reporting. This is not a request for debt
              validation/verification  under FDCPA §809(b).”.
                  (don’t let them just simply sluff it off as a meaningless  DV letter)

“In compliance with FCRA §623(a)(8)(D), and enacting regulations published at  16 CFR § 660.4, this Notice of Direct dispute includes:

 “Identification of the specific information being disputed:
           (specify the account number, and the specific information that is disputed under

             that identifying account)

“Basis for the dispute:

            (how the reporting was inaccurate;    was any reporting in violation of any statutory or

             regulatory provisions?  account or express agreements?  CRA reporting gudelines? Account not

              yours? etc.)

“Supporting documentation:

            (all documents that support your dispute; make sure to include,

             as part of your documentation, at least a copy of the portion only of your

             recent credit report showing their reporting of the disputed information was

              actually reported to your credit flle.  The implementing rule requires showing

               that it appeared in your credit report)

 

“Under the provisions of FCRA §623(a)(8)(E) and 16 CFR §660.4,, you have the duty to review all of the information I have provided to you,  to complete your investigation of this Direct Dispute within 30-days of my Notice of Direct Dispute,  and report back to me the results of your investigation within 5-days of your completion of your investigation.” 

“Should you find the disputed information to be inaccurate or incomplete, or you cannot verify the accuracy or completeness of the disputed information, you are additionally required, under FCRA §623(b)(1)(E), to promptly notify the credit reporting agencies of correction of this information, or of its deletion from my credit file.”

 

Regular Contributor
aot2002
Posts: 199
Registered: ‎03-11-2009
0

Re: credit items just disappeared ?

>>Neither,, disputes relate to your showiin of inaccuracy of what was reported, and not the fact of its reporting

 

But I guess what I was trying to understand ........was if something is reported ... let me give you an example

 

I had no collection on my reports as of Sep through Dec then this month a very old collection nothing of which I ever seen popped up on my report this month and it says on experian details that it's been reported since 2009 ?

So two things seem to be confusing 

 

#1 how can they say they've been reporting since 2009 to the CRA's when it just appeared two years later

 

#2 how can the CRA's state that something doesn't exist if you dispute something reported and the next month it disappears if disputes do not go off from my credit file and CR ?

 

Hope this makes sense

 

 


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