topic CR ERROR? in Rebuilding Your Credit

CR ERROR?

Anonymous — Tue, 06 Sep 2011 02:50:38 GMT

process of rebuilding and have put 3 years behind me, but still have Portfolio reporting until 09-2012 - but in checking CR today it looks as though Experian has changed their format. In the comments of this "collection", it suppose to show date/balance/proposed payment date/ payment date and amount - I'm ignoring these pains and am not making any payments to them and I'm so close to the end now. Could they be showing payments even tho the balance isn't going down and with those payments it would have been paid off by now, in order to keep this on my CR? Is it true that if I were to dispute this with CRA, the error if I'm reading it right, would get the entry deleted from the report?

Or should I just ignore this one more year? They call my house 3-4 times a day, but ever leave a message. This tells me its past the SOL and they're just hoping to get me to pay?

Any advise?

Re: CR ERROR?

Anonymous — Tue, 06 Sep 2011 05:37:56 GMT

Not sure the exact situation, the CA is inventing payments in order to rereport? Usually they don't have to change actual info in order to rereport. Especially strange if they show payments being made when they are not. Sounds like it will drop off soon 9/2012, IME, CO's that are that old do not affect your score much at all. So, unless you really need a loan before the drop off date, I'd let it drop off. If you really need the CO off of your CR's now, have to PIF then GW. Personally I haven't experienced a CO being removed completely because of misreporting but may be someone else had it happen.

Re: CR ERROR?

RobertEG — Tue, 06 Sep 2011 10:12:30 GMT

The date of exclusion of the collection from your CR is not impacted by any reported dates of payment.

The CR exclusion date runs 7 years plus 180 days from one single date-certain, and that date is the date of your first delinquency in the most recent chain of delinquencies on the OC account that preceded the collection. Period. The DOFD is NOT reset by any actions reported by the debt collector.

If the reported information is inaccurate, then you can dispute its accuracy. However, the outcome of a dispute does not require deletion of the collection from your CR if the information can be updated to make it accurate. If you can show that the reporting is inaccurate, they can merely delete that disputed item of information without any requirement to delete the fact of their collection on the debt.