I was going from the end of a school loan forbearance to a consolidation loan. Previously, AES/Wells 'predated' the request and wiped out any delinquent and reset the clock. At the same time I consolidated (June 2012) I was delinquent 60 days and requested a forbearance so I wouldn't have the 60 days reported. Normally, they would have applied the forbearance, and eliminated the late but for some reason they didn't. Maybe because I had a consolidation request. Regardless, they tagged me with 60 days late on two school loans. I disputed with them and they said I was indeed late and they were required to report the delinquency. We reviewed the notes and the forbearance request and they said, even thought it was in the notes, they couldn't change the delinquency and so the dispute was verified accurate.
I have are the exact same scenario with ACS/Wells except they didn't stop the clock during the time I requested the consolidation until the loan was paid and so they have me listed as 120 days late on three student loans.
I have five five student loans with severe delinquents that shouldn't be but neither ACS or AES will change them. Am I able to write up my notes and submit to the CRAs directly or will they just turn and ask ACS and AES? In other words, am I stuck for 3 more years or will the CRA take action and remove them? These 5 delinquents are impacting me in my attempt at a mortgage and improving my score.
Any information in your file can be disputed by way of the CRA.
Alternately, if the information was reported by a furnisher (which will be the case unless it is public record information or an inquiry for your credit report), you have the option of filing your dispute directly with the furnisher of the information.
If you dispute via a CRA and the disputed information was provided by a "furnisher", the FCRA requires that the CRA must refer a copy of the dispute to the furnisher, and the furnisher is required to conduct a reasonable investigation, and respond back to the CRA within the reinvestigation period.
While the response from the furnisher is technically only part of the basis for the CRA's ultimate decision in their reinvestigation, it is usually rubber-stamped by the CRA.
Yes, they must ask the furnisher for their input.
No, the CRA is not bound by the furnisher's verification or correction, but it is rare that they will rule differently.
Disputes are filed directly with the CRA. The CRA will investigate and that includes contacting the creditor/CRA/whatever. The CRA isn't just going to take your dispute and remove an item with only that information.