topic Just when you think you've won in Rebuilding Your Credit

Just when you think you've won

Anonymous — Fri, 13 May 2016 20:58:35 GMT

I had an electric account in my businesses LLC name that was illegally transferred to my personal name when I asked for the final bill after shutting the office location down.

I successfully disputed it off, and it went right back on the next week. This seems to be the case with things I've disputed (off the first month then on the next, rinse and repeat).

I went from a 770 on Exp (789 before I got approved for an AMEX) and then dropped to a 614 today. I spend a ridiculous amount of time trying to fix this stuff and it's starting to wear me thin.

Re: Just when you think you've won

RobertEG — Sat, 14 May 2016 06:13:32 GMT

One of the problems with the dispute process is that the results are not based on a legal process, but only a referral and an internal investigation that is only required to be "reasonable."

It is not a legal process that first acquires, or permits the attempt to acquire, all relevant evidence, and then makes a determination based on the totality of facts.

Rather, it is intended to be a quick administrative process that involves self-investigataion and verification that is not a legal facfinding process.

It also permits reinsertion of previously deleted information if the party submits a certification of accuracy, which permits them to postpone verifcation and do so at any later time.

Finally,, it has no appeal process.

In cases where you have an issue, such as the need to determine obligation for a debt or the legitimacy of reporting of busniness related defaults as personal credit reporitng, it might be necessary to bring civil action and obtain a full judicial process that, once concluded, is thorough and legally binding.

Re: Just when you think you've won

Anonymous — Fri, 13 May 2016 22:10:40 GMT

This is the issue I have.

I was trying to avoid litigation at all costs because the court systems have always been a drag for me personally in terms of efficiency (I end up wasting more time and money there) but it looks like that might end up being my only course at this point.