topic Re: EQUIFAX + CFPB in Rebuilding Your Credit

EQUIFAX + CFPB

Anonymous — Mon, 16 Mar 2015 21:16:26 GMT

Hello,

I am victim of ID Theft (credit card). I disputed the account with Equifax for removal and it was removed by submitting a formal request along with a police report. A few months later, that account reappeared on my report via a collection agency. Again I disputed the account 3 times with equifax and was rejected every single time without a valid reason.

As a result, I filed a complaint with CFPB and requested the removal of that line item. Equifax responded to CFPB with same response. I disputed their response and now waiting to hear from CFPB regarding their investigation.

From what I know, the CFPB won't advocate on my behalf for a desired resolution which is the removal of the account from the credit report. It seems that they will investigate to see if a law has been broken and will then may be fine equifax. What does that do for me?

What steps should I take next? Go after the collection firm directly or thru CFPB? Any help would be appreciated.

Re: EQUIFAX + CFPB

gdale6 — Mon, 16 Mar 2015 21:54:41 GMT

Refusing to exclude from your report a collection on an already excluded OC item for ID Theft is a violation of law and I would send the CRA a copy of your poilce report and other relevant info that you sent them to get the OC excluded along with an ITS letter (intent to sue) for these violations of law. You might want to review what to do in ID Theft cases here http://ficoforums.myfico.com/t5/General-Credit-Topics/Victim-of-Identity-Theft-What-To-Do-to-Protect-Yourself/td-p/2059499

Welcome to My Fico

Re: EQUIFAX + CFPB

Anonymous — Mon, 16 Mar 2015 22:39:01 GMT

Thanks... So you think the CFPB process is worthless and wont yeild any favorable remedy or resolution for me?

Re: EQUIFAX + CFPB

RobertEG — Mon, 16 Mar 2015 23:13:30 GMT

Perhaps the CRA, and ultimately the CFPB, is a bit confused with your poor choice of terminology, and thus is misinterpreting the basis of your complaint....

When any information is asserted to be based on identity theft, you file a police report and submit to the CRA, not by way of dispute, but under FCRA 605B, which does not pertain to reinvestigation of the information, but rather block of the information from your credit report.

There is no issue when using the blockage provision of section 605B of verification of the accuracy of the information, Your assertion, backed by a sworn police report, is adequate. Neither the debt collector nor the CRA is involved in a dispute process, and makes any investigation or reinvestigation.

Re: EQUIFAX + CFPB

Anonymous — Mon, 16 Mar 2015 23:26:13 GMT

Hi RobertEG,

I appreciate the feedback. I did in fact communicated with EQ regarding this original creditor account as an ID Theft and requested to deletion pursuant to rule 605b and it was immediately (within 4 days) deleted. However, once it reappeared again under a collection agency, it became difficult remove for some reason... I asserted my claim that it is an ID theft situation with a police report encolosed. But for some reason, EQ response was the same, "we will not block..." without any further validation or request for additional information. Very strange. Maybe I've been sending my letters to the wrong EQ dept. Is there a specific ID Theft/Fraud Dept to whom I should mail the letter?

How about communicating directly with the collection agency with an ITS letter and request for deletion? thanks again.

Re: EQUIFAX + CFPB

RobertEG — Mon, 16 Mar 2015 23:42:42 GMT

If there was no confusion then point to the clear provisions of FCRA 605B (c), which explicitly sets forth the conditions under which a CRA may decline to block the information.

The reasons provided under section 605B (c)(1) are:

(A) the block was requested by the consumer in error;

(B) the block was requested by the consumer on the basis of a material misrepresentation of fact by the consumer; or

Addtionally, section 605B (c)(2) requires the CRA to provide notification to the consumer of the pertinent reason for any decline to block, citing one of the above reasons.

Re: EQUIFAX + CFPB

Anonymous — Mon, 16 Mar 2015 23:58:51 GMT

RobertEG,

Thank you. I totally agree and will express these points more bluntly... On my next letter to EQ, should I mention that I have filled a complaint with CFPB? or will it be a disadvantage to me>

Since English is not my first language, would you be able to recommend on how I should put a more assertive letter? Do you have a geneal formate or template I can follow? thanks again. nick.