topic Re: Experian refuses to investigate inaccurate BK item in Rebuilding Your Credit

Experian refuses to investigate inaccurate BK item

Anonymous — Tue, 03 Mar 2009 22:56:00 GMT

I've sent 2 dispute letters to Experian stating that an account I had years ago that was charged off and eventually sold a few times is now reporting that I filed chapter 7 bankrupcy in June 2007. I have an old BK that was filed and discharged long before this account was even open (April 2002). I'm counting the years till that one finally drops off and the last thing I need is it to look like I took another BK in 2007 (which is not even valid since you have to wait 6 years in CA before you can file again).

I just received a form letter from Experian that states they have already verfied this with the creditor and will not investigate it again unless I can provide proof.

How do I prove something didn't happen? In my last dispute letter I was very specific and even pointed out the problem with the dates.

How do I proceed?

Re: Experian refuses to investigate inaccurate BK item

Anonymous — Tue, 03 Mar 2009 23:02:51 GMT

How old is the negative item in question? As a charge off it will probably have the same effect on your score whether it mentions a BK or not, which luckily means less impact as it gets closer to 7 years old. Other than in a manual review of your credit, the specific notation should not matter. If it is small enough you may want to consider PFD,but if it going to fall off in a short time, best to just wait it out

Re: Experian refuses to investigate inaccurate BK item

kjm79 — Tue, 03 Mar 2009 23:07:19 GMT

It sounds like you filed only one BK, which was back in 2002 and since been discharged, right? Was that a Ch. 7? If so, send your notice of filing bk and the appropriate discharge order to the CRA to show the dates of the BK. As long as the charged off account wasn't opened prior to bk filing or within the time of filing and discharge date they should have to delete it. Is is only this account that is reporting IIB in June 2007 or is EX listing another BK under public records?

You ask how you can prove something didn't happen. You make the person who said it did prove that it did happen. Get the contact info for the OC and dv them. If it's prior to 2002 then you should be out of SOL and they shouldn't be able to come after you for it. Keep everything in writing. If they can't verify with you it was IIB then forward that correspondence to the CRA and politely demand that the IIB reference be immediately deleted.

Re: Experian refuses to investigate inaccurate BK item

Anonymous — Tue, 03 Mar 2009 23:36:22 GMT

@kjm79 wrote:
As long as the charged off account wasn't opened prior to bk filing or within the time of filing and discharge date they should have to delete it. .

They'd have to delete the notation, the valid derogatory account information would remain, and thus the impact on the Fico score would remain

EDIT: Deleted reference to DV as the Debt is still within SOL

Message Edited by reots on 03-03-2009 03:36 PM

Re: Experian refuses to investigate inaccurate BK item

kjm79 — Tue, 03 Mar 2009 23:24:09 GMT

@Anonymous wrote:
@kjm79 wrote:
As long as the charged off account wasn't opened prior to bk filing or within the time of filing and discharge date they should have to delete it. .
They'd have to delete the notation, the valid derogatory account information would remain, and thus the impact on the Fico score would remain

reots is right, only the notation would have to be deleted, which is what I was referring to. However, if this account was charged off as of 2002 or earlier then this account is having very little impact on your score. The IIB notation from June 2007, while over two years olds, is much more recent than 2002 and will have a greater impact on your score than a charged of account from 2002.

Original Poster, another thing to consider. If this account was charged off prior to your bk in 2002, it is very likely it was included in your 2002 bk and the creditor or CRA made a typo and put in 2007 instead of 2002.

Re: Experian refuses to investigate inaccurate BK item

Anonymous — Tue, 03 Mar 2009 23:25:35 GMT

The actual account is a charge off from 2006. It had nothing to do with the first BK. No other account reports this new 2007 BK, in fact I have had perfect credit for over 2 years now. All of my other accounts that were included in the real 2002 BK have dropped off already.

The account is from HSBC and they have left me alone for a while. If I offer to PFD and they refuse to delete would reinitiating this contact with them start the clock again or worse?

Re: Experian refuses to investigate inaccurate BK item

Anonymous — Tue, 03 Mar 2009 23:34:40 GMT

As it is from 2006, it's probably still within statute of Limitations so don't contact them for PFD unless you have the money to pay in full.

Also don't DV them if you know the debt is valid and it is still within the SOL, I was assuming the debt was out of SOL.

Message Edited by reots on 03-03-2009 03:34 PM

Re: Experian refuses to investigate inaccurate BK item

kjm79 — Tue, 03 Mar 2009 23:42:23 GMT

I was also assuming it was out of SOL. And reots is correct on all other counts. If you cannot afford to pay in full and you know this is your debt, stay away from it. DVing can sometimes cause the account to become current.

Re: Experian refuses to investigate inaccurate BK item

Anonymous — Tue, 03 Mar 2009 23:49:04 GMT

Thanks. I was afraid if I did anything more than dispute it was the CRAs I would cause more problems. We'll let it be for now. My husband is going to try to qualify for a mortgage this year. If we are not using my income or scores to qualify, would this negative item hurt his mortgage approval? It's not a joint account -- it's only on me.

Re: Experian refuses to investigate inaccurate BK item

kjm79 — Tue, 03 Mar 2009 23:55:10 GMT

I would think if using only your husband's scores and income and the account is not showing on his accounts, it shouldn't be a problem.