CA that no longer exists--online disputing

[Anonymous]

I believe Equifax will not be able to reach the CA because all numbers that are listed for the CA no longer work and the BBB lists it as no longer being in business.  Equifax online dispute estimated it will take 3 days to verify with the creditor but may take up to 45 days free credit report dispute (oops!). 

But, don't they usually send over an electronic request for validation?  If so, will they get a bounce message saying the CA no longer exists?  (I don't know how that system works).  Or, will I have to wait a full 45 days and then receive a reply from Equifax?

And also, I wonder if some junk debt buyer will swoop in and buy the account during the dispute period and attempt to validate. 

Advice?  opinions? 

Thank you.

[Anonymous]

Someone owns this Debt-
Eq will get a message that XXX owns this debt now and send the request to the new guys and the new data will show up on your report.

This happened to me.

I would send via MAIL CM instead of Online.

Do not dispute via annual Credit report- do not give them more time.

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@Anonymous wrote:

I believe Equifax will not be able to reach the CA because all numbers that are listed for the CA no longer work and the BBB lists it as no longer being in business. Equifax online dispute estimated it will take 3 days to verify with the creditor but may take up to 45 days free credit report dispute (oops!).

But, don't they usually send over an electronic request for validation? If so, will they get a bounce message saying the CA no longer exists? (I don't know how that system works). Or, will I have to wait a full 45 days and then receive a reply from Equifax?

And also, I wonder if some junk debt buyer will swoop in and buy the account during the dispute period and attempt to validate.

Advice? opinions?

Thank you.

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[Anonymous]

Unfortunately, I did do it online not realizing the file number I used was that of my FREE credit report.  So it told me under the FACTA act, it could take up to 45 days.  I can't change that now. So somebody does own it?  I'm surprised after all these years, almost seven, the new CA didn't report me.  Well, I guess they will now. 

Gosh it seems like ever since I joined all these credit monitoring programs and ordered my CRs and have begun attempting to make things better, they've only gotten worse.  All this stuff is resurfacing that didn't even show on my CR's until I signed up for monitoring.  I mean things from many years ago weren't there and then a month after signing up...BOOM!  All this stuff starts showing up on my reports and CA's start mailing me.  How do they know I'm trying to fix things?

Anyway, I was hoping since the CA had closed down, it couldn't be verfied and would go away.  Think this will take the whole 45 days now?  But I just pray no re-aging happens. 

Thanks for your reply

[Anonymous]

Good luck to you-

You will also learn that the CRA's sell collection tools that notify creditors when your credit improves.

[Anonymous]

Congress should really step in and fix this. It is really unfortunate that when many are trying to improve their credit standing, our system allows these sharks to come out of the wood work and disuade our efforts. But, with persistence, we will win the good fight.

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@Anonymous wrote:
Good luck to you-

You will also learn that the CRA's sell collection tools that notify creditors when your credit improves.

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[Anonymous]

It was Experian not Equifax. I believe it was a file number for a report I paid for: Well, it's been over a month and still no word. I tried to check the status online but it gave an error message saying there is no investigation or missing information. Then when I tried to dispute it again, it said it's currently being investigated. I'm afraid to call the CRA to find out what's going on because so many people have warned NOT to do that. So, I don't know if it's really being investigated or if the investigation is pending receipt of further information from me. If the CRA cannot reach anyone to verify, do you think they will wait until the 45th day to finally make a decision to keep or delete the TL? Or will they just keep it on my CR until I re-dispute? Thanks!

[Anonymous]

This is the message I get when I try to check the status of the online dispute: "Error Either you have not recently requested an investigation and there is no investigation pending, or some of the items that are being investigated may not appear until later because they required additional processing." But when I try to dispute the item again, it says it's already being investigated. What should I do? I'm afraid to call Experian. Do I have to wait 45 days? Thanks.

[Tavares]

Gidget, if they do happen to find the creditor/collection account get their info and negociate with them to not report the info or if they have alread to delete that you will pay them.

I had to do this with a student loan collection account.  i payd them $400.00 just to tease them and i owed them 12K and actually set down with them in a room with 3 lawyers and told them if they delete I will keep paying, if they don't i wont.  The account was so old they wrote me a letter right there and then stating our agreement.  I sent the letter to the CRAs and got it removed in a week. and I am paying them right now (no interest, so I am taking my time )

By the way, they do sell us out to these collections. It has to be. As soon as I started showing some activity in the credit world, and tried to get a mortgage 3 bad accounts popped out of nowhere within a month.  I had to postpone my house purchase for almost a year to clean up the mess.

Good Luck with this,

Tavares

Message Edited by Tavares on 09-18-2007 05:33 PM