topic Re: Inconsistent reporting between Transunion and Equifax in Rebuilding Your Credit

Inconsistent reporting between Transunion and Equifax

Anonymous — Wed, 07 Jan 2015 16:31:13 GMT

Hi!

There is something I'd like to check with you guys. I've had a couple of lates back in 2011 following a job loss with a lender that since ceased it's operations.

On Transunion, it says the account was 30 days late in July and in September but reported current the rest of the year. However, on Equifax, it says "Two payments past due" for those two months and October shows up as being "Three payments past due".

My question is this, does "Two payments past due" equal 30 or 60 days late?

Also, since I have no other proof other that what is shown on Transunion, can I file a dispute with Equifax for removal of the 90 days late as it was reported as current with TU?

Thanks for your help!

Re: Inconsistent reporting between Transunion and Equifax

cartwrna — Wed, 07 Jan 2015 16:33:33 GMT

I would dispute that it is wrong due to the innaccuracy across the bureaus and ask that they verify payment history and all other historical account information. In the event that the lender doesn't reply within the 30 days the account will be deleted from the bureaus you are disputing. I'm assuming if they ceased operations, that they wouldn't reply just FYI.

Re: Inconsistent reporting between Transunion and Equifax

Anonymous — Wed, 07 Jan 2015 16:52:06 GMT

Thanks for your response!

I was hoping to app for a new car before the end of the month. If I choose to dispute, should I apply before disputing, dispute and then app or dispute, wait for the results and then apply?

Re: Inconsistent reporting between Transunion and Equifax

cartwrna — Wed, 07 Jan 2015 18:12:39 GMT

I would dispute, then apply for the car once you get your results. If your not in terrible need within 30-35 days. They have 30 days to return the results of your dispute from start to finish. If they don't reply it will be removed, which could net you some significant score change based on what other negatives you currently have reporting thus resulting in better APR.

Re: Inconsistent reporting between Transunion and Equifax

Anonymous — Wed, 07 Jan 2015 19:21:24 GMT

I need the car pretty bad and my scores are hovering around high 600 / low 700 so I might take a chance and see how it goes. Then again, I haven't had a car for the past two years but it's starting to get to me...

Re: Inconsistent reporting between Transunion and Equifax

RobertEG — Wed, 07 Jan 2015 19:27:44 GMT

In my opinion, you have no basis for dispute.

A creditor is not required to report every monthly delinquency to each CRA.

They can choose to report none, one, or all.

Lack of reporting to one CRA does not make the reporting to another inaccurate.

The FCRA only requires that what is reported cannot knowingly be inaccurate, It does not require complete reporting of all derogs.

A dispute is more likely to result in addition of all delinquencies to each CRA. I doubt that you want that....

Re: Inconsistent reporting between Transunion and Equifax

cartwrna — Wed, 07 Jan 2015 19:35:19 GMT

How would it result in addition if the company went out of business? Who would verify this information?

Re: Inconsistent reporting between Transunion and Equifax

RobertEG — Wed, 07 Jan 2015 19:43:22 GMT

I would presume they passed business records to heirs of the account.

Re: Inconsistent reporting between Transunion and Equifax

cartwrna — Wed, 07 Jan 2015 19:51:17 GMT

What was the business/credit if you don't mind me asking YoRk3? I had some bad checks I had wrote when I was 19, the stores I wrote them to went out of business. I disoutes and they were removed do to no reply so I guess it just depends on how well kept there records were and if they were/were not passed on.

Re: Inconsistent reporting between Transunion and Equifax

Anonymous — Wed, 07 Jan 2015 20:06:09 GMT

It was a store card. The accounts were sold to a different creditor who doesn't have any kind of record. I don't know for sure whether the debt is valid but I know I got current around that time.

It bothers me because what if the information on TU is right? Then I'm the one with a 90 days late on his CR and I'll be hurting until it falls off...

Re: Inconsistent reporting between Transunion and Equifax

RobertEG — Wed, 07 Jan 2015 20:11:46 GMT

If you choose to dispute, then you need to come up with some basis for asserting its inaccuracy.

Simply stating that you dont remember being late is not adequae basis to compel them to investigatem and they could dismiss the dispute without need to investigate.

However, if you can come up with some documenttion to support a dispute of accuracy, they would be compelled to investigate.

If they have no business records to support verification of the accuracy of that reporting, then yes, they would be compelled to delete.

Re: Inconsistent reporting between Transunion and Equifax

Anonymous — Wed, 07 Jan 2015 20:23:21 GMT

And the fact TU reporting it as current does not support it, right?

If not, then I guess I'll have to live with it.