I have the question of , are the CRA'S "bound" to update ones credit report to satisfied or paid once it is pd ?
I have one that I pd 8K back in April on, (full amount ) and both TU and EX have deleted it but EQ has not and continues to report it, unpaid with the whole balance showing, "unpaid " !
I disputed back near the last of September as "staus", not sure if that was the correct selection?
But, are they not required to update once it's paid from their, so called. .."furnisher of information " ?
Yes, CRAs are under a statutory requirement to adopt reasonable procedures for assuring the accuracy of information in their credit files and credit reports they issue.
FCRA 602(b) and 607(b).
Just to be clear on my situation on this.
I have paid a judgment, back in April, of 8k, to BoA, and now going on 7 months later, EQ still hasn't updated this to satisfied or paid status !
I don't see that it's up to me to do this as they are the CRA reporting it (TU and EX deleted it ) and I have a dispute in with EQ.
Someone said that they have "procedures " to do this, but what kind of time limits are they bound too ?
It just keeps causing harm as it keeps my score down, looks as though I still owe this to banks that "may" otherwise deem me eligible for pre-equals, and even better offers , IMHO!
Still 2 weeks away from their "investigation " to have run, but it sure takes its toll !!
The issues related to the CRA handling and update of public record information is the current subject of litigation.
A summary of the issues can be found at:
After reading through this link ^^^, it appears to me that EQ never wanted to admit they were in the bed with Lexis-Nexis! Says they were getting their "proof " from our local courthouses which was a blatant bunch of bull ! Now, the way I understand it, they admit no wrong BUT..will follow procedures to list the furnishers of information (as they should have been doing all along ) ! Still not doing so, as of now, with my report anyway!
Guess they're holding out until the "settlement " is finalized!
Procedures, to them, seems to apply only to us, the consumer as they've covered up for LN , their bedfellows!
Hope they soon have to really play by the same rules we have too !