topic Re: CRA codes for updating incorrect information in Rebuilding Your Credit

CRA codes for updating incorrect information

noobafterbk — Tue, 25 Aug 2015 02:05:43 GMT

Does anyone have the codes each CRA uses to update your credit report during a dispute.

i understand that when I call a CRA they have a specific number of codes that each account can be; to update an account a new code must be inputted and thus update the credit file to the correct status.

I want to dispute a couple of negs on my CR and would like to have the codes to use during my letter writing........eg. equifax please correct this account to paid using code xxx

Re: CRA codes for updating incorrect information

RobertEG — Tue, 25 Aug 2015 05:54:01 GMT

The CRA reporting manual is copyrighted, so a detailed reproduction would be a violation of their copyright.

Are there a few specific codes you are seeking that can be provided without a reproduction of extensive copyrighted information?

Re: CRA codes for updating incorrect information

noobafterbk — Wed, 26 Aug 2015 16:16:42 GMT

I want an OC to delete a trade line, and want to use which code should be used so that a PFD is as specific as possible. is the updates an online process or do they fax a changes document to the CRAs. is there a code they use to delete this file now that it's settled.

Re: CRA codes for updating incorrect information

Anonymous — Wed, 26 Aug 2015 22:54:26 GMT

@noobafterbk wrote:
I want an OC to delete a trade line, and want to use which code should be used so that a PFD is as specific as possible. is the updates an online process or do they fax a changes document to the CRAs. is there a code they use to delete this file now that it's settled.

hmmm I believe creditors use software that is menu driven, so when the operator selects something like "delete" the software translates it into CRA codes then submits it elctronically. I don't believe creditors input the actual codes

Re: CRA codes for updating incorrect information

RobertEG — Thu, 27 Aug 2015 00:29:32 GMT

Original creditor accounts are stored in the Base Segment of the consumer file, while collections are stored in the K-segment.

Deletion of an account is done by way of reporting an update to its Account Status, which is stored in Field Code 17A.

The new status for deletion of an account is DF.

Thus, an OC account deletion would involve reporting of new status DF to field code 17A (account status) of the base segment of the consumer's credit file.

Re: CRA codes for updating incorrect information

noobafterbk — Thu, 27 Aug 2015 00:55:56 GMT

wow that's so helpful. thank you so much.

Re: CRA codes for updating incorrect information

Anonymous — Fri, 28 Aug 2015 16:04:30 GMT

@RobertEG wrote:
Original creditor accounts are stored in the Base Segment of the consumer file, while collections are stored in the K-segment.
Deletion of an account is done by way of reporting an update to its Account Status, which is stored in Field Code 17A.
The new status for deletion of an account is DF.

Thus, an OC account deletion would involve reporting of new status DF to field code 17A (account status) of the base segment of the consumer's credit file.

Robert, my reading of the CDIA is that Field code 17 with Account status Code of DF means "Delete entire account due to confirmed fraud (fraud investigation completed)."

Account Status Code of DA should be used to delete an account for reasons other than fraud.

Am I reading it wrong? I'm going by the CDIA guide.

Re: CRA codes for updating incorrect information

RobertEG — Fri, 28 Aug 2015 19:41:30 GMT

Good catch.....you are absolutely correct.

DA Delete entire account, reasons other than fraud

DF Delete entire account, reason of fraud

Re: CRA codes for updating incorrect information

J91605 — Sat, 29 Aug 2015 07:00:38 GMT

Where do you find that kind of info? Also where can I find a copy of the CRA rules and guidelines?

Re: CRA codes for updating incorrect information

RobertEG — Sat, 29 Aug 2015 07:12:52 GMT

They are found in the standard credit reporting manual, which is jointly developed by the Metro 2 Format Team, comprised of the Big-3 credit reporting agencies (EQ, EX, and TU) along with the smaller CRA, Innovis, and under the administration of their contractor, the Consumer Data Industry Assoc (CDIA).

CDIA holds the copyright to the manual, whiich is titled the "Credit Reporting Resource Guide", and they sell it restrictively to their members. It is not sold to the general public.

It is not available for download.

Parties who enter into credit reporting agreements with the CRAs are governed by the procedures in the Guide

Re: CRA codes for updating incorrect information

noobafterbk — Sat, 29 Aug 2015 17:22:08 GMT

thank you I actually just downloaded a copy of the above document I dont know if it would breach rules of the forum for me to upload it or provide a link

Re: CRA codes for updating incorrect information

Anonymous — Sat, 29 Aug 2015 17:51:19 GMT

Does this actually work in a PFD? What would it be for a collection account?

Re: CRA codes for updating incorrect information

Anonymous — Sat, 29 Aug 2015 18:03:49 GMT

@noobafterbk wrote:
thank you I actually just downloaded a copy of the above document I dont know if it would breach rules of the forum for me to upload it or provide a link

I believe that document is the intellectual property of the CDIA so it would probably not be a good idea to post it in this particular forum.

Re: CRA codes for updating incorrect information

RobertEG — Sat, 29 Aug 2015 18:50:06 GMT

It is definately copyrighted by CDIA,

If the link is not authorized by CDIA, there would be definate copyright issues.