topic Re: Question about late payments in Rebuilding Your Credit

Question about late payments

Anonymous — Fri, 05 Apr 2013 04:55:15 GMT

When you dispute a late payment and the company admits that you were not late and returns your late fee are you able to dispute this with the Credit Reporting Agencies?

Re: Question about late payments

0x47 — Fri, 05 Apr 2013 04:58:06 GMT

If you have it in writing, go dispute it right now. If it is not taken care of promptly, you might be able to sue for violation of the FDCRA.

Re: Question about late payments

Anonymous — Fri, 05 Apr 2013 05:03:44 GMT

I should get the receipt for the fees being refunded in the mail in 5 days is what the rep told me. I will dispute with one CRA first and see how it goes.

Re: Question about late payments

RobertEG — Fri, 05 Apr 2013 05:35:28 GMT

Handling by way of dispute of the accuracy via the CRAs is a really around-the-barn hassle that is unecessary.

The creditor is required by statute to take care of it on their own without any need for you to put it through the dispute mill.

Under FCRA 623(a)(2), any party who has reported information to a CRA is required to promptly update their reporting so as to maintain its accuracy.

If they have determined their reporting is inaccurate, they have the statutory responsiblility to promptly notify the CRA, and correct or delete as necessary.

It is more than a bit silly to send a dispute of accuracy to the CRA wherein the creditor has already acknowledged that they cannot verify the accuracy.

The CRA will forward to the creditor, the credtior will be unable to verify, and a lot of trouble has been expended over an admitted inaccuracy.

Section 623(a)(2) is intended to obviate such silliness.

I would call the creditor and remind them of their statutory requirement under section 623(a)(2) to promptly correct their own reporting.

If they waffle, then send them a direct dispute under FCRA 623(a)(8), with basis being their failure to have updated the admittedly inaccurate reporting.

I would keep the CRA out of the entire process. They have no part to play other than as a middle-man, and may muck it up by use of their e-Oscar electronic dispute process, by which they wont forward your documentation and related arguments to the creditor.

Re: Question about late payments

Anonymous — Fri, 05 Apr 2013 11:54:13 GMT

ThAnks Robert

Re: Question about late payments

DaBears — Fri, 05 Apr 2013 12:15:16 GMT

@0x47 wrote:
If you have it in writing, go dispute it right now. If it is not taken care of promptly, you might be able to sue for violation of the FDCRA.

You mean FCRA. I highly doubt a lawsuit will accomplish anything on a 30 day late. There is mistakes all the time on Credit Reports!!! I would understand if they changed the DoFD or the CA knowingly reported a account that was paid in full to the OC put still kept it listed on a CR.

Re: Question about late payments

0x47 — Sat, 06 Apr 2013 22:58:55 GMT

Mistakes happen, fine. But when they are pointed out and not corrected, that is when I am less forgiving . Anyway, good luck resolving it!