topic Re: Equifax Dispute HELP in General Credit Topics

Equifax Dispute HELP

Anonymous — Fri, 09 Apr 2021 22:16:02 GMT

So I received a letter from First Premier stating I was not responsible for the account on my credit report and that it would be removed.
I sent the letter to Experian since this was a previously disputed account and they removed it fairly quickly. So I attempted to do the same with equifax, but I had to open a new dispute to add the documentation to. Well this dropped my score almost 50 points...it added the account into my revolving credit, shot my utilization up, and now claims I have multiple past due payments. What I don't get is this account had been reporting monthly so why did it change ALL this now? Can I call equifax to speed up the dispute and get this off my credit?
I just put an offer on a house and really don't want my score to have this massive drop right before I maybe possibly going to underwriting!

Re: Equifax Dispute HELP

Anonymous — Fri, 09 Apr 2021 22:23:15 GMT

My mortgage scores are now sitting at 604/647/706 because of this
My experian is at 706 because they removed the account!! I just need to figure out how to get equifax or even transunion to remove it ASAP

Re: Equifax Dispute HELP

Anonymous — Sat, 10 Apr 2021 21:31:32 GMT

Transunion has removed it now as well.

any idea on how to speed equifax up on this?? Can I call them to speed it up or do I just have to wait it out?

Re: Equifax Dispute HELP

RobertEG — Sun, 11 Apr 2021 06:12:42 GMT

Once a party has reported information to a CRA, that furnisher is then required under FCRA 623(a)(2) to promptly report any update/changes in that reported information that is necessary to maintain its current accuracy.

The CRAs normally dont entertain letters or communications from consumers asserting a furnisher's obligation to update, but rather wait for the furnisher to report their update of their own reported infromation.

If the furnnisher is not promptly updating (usually in their next regular reporting cycle), you can make an informal call to them reminding that they have the positive duty to make prompt update to the CRA. If that fails, then file a formal dispute with the CRA and/or file a complaint with the CFPB for their lack of compliance with FCRA 623(a)(2).

Finally, if a CRA dispute results in verification of the inaccurate information, you can move to civil suit seeking a judgement finding their verification to be unreasonable.

Re: Equifax Dispute HELP

Anonymous — Sun, 11 Apr 2021 00:58:22 GMT

@RobertEG wrote:
Once a party has reported information to a CRA, that furnisher is then required under FCRA 623(a)(2) to promptly report any update/changes in that reported information that is necessary to maintain its current accuracy.
The CRAs normally dont entertain letters or communications from consumers asserting a furnisher's obligation to update, but rather wait for the furnisher to report their update of their own reported infromation.

If the furnnisher is not promptly updating (ususually in their next regular reporting cycle), you can make an informal call to them reminding that they have the positive duty to make prompt update to the CRA. If that fails, then file a formal dispute with the CRA and/or file a complaint with the CFPB for their lack of compliance with FCRA 623(a)(2).

Finally, if a CRA dispute results in verification of the inaccurate information, you can move to civil suit seeking a judgement finding their verification to be unreasonable.

So the letter from First Premier stating that I am not responsible for the account and that is should be removed is not going to help anything really?

Does FCRA 623(a)(2) apply to student loans as well? Navient has been updating my loans that have a balance regularly, in February and March but the ones that were paid in February haven't been updated since January. I'm not sure why they refuse to update the ones that have been paid to paid but the ones still open have been updated twice since then.

Re: Equifax Dispute HELP

LawStudentCivilis — Sun, 11 Apr 2021 14:47:06 GMT

Call them. I had to do so with a dispute myself and they were able to verify documents and complete the process while we were on the phone.

Re: Equifax Dispute HELP

Anonymous — Sun, 11 Apr 2021 18:31:20 GMT

@LawStudentCivilis I believe equifax actually responds to attorneys, as opposed to us mere mortals

Re: Equifax Dispute HELP

Anonymous — Sun, 11 Apr 2021 20:29:41 GMT

They removed it! Now just to figure out how to get these medical collections off from equifax. They were paid with the drs office before they went to collections. They were removed from TU and EX over a year ago.

and to figure out how to get my student loans updated!! It's been over 2 months now since they've updated the correct balance 🤦🏼‍♀️