DoFD being reported inaccurately. Disputed and now huge score drop :(

[LukeJoseph]

Hi all -

Feeling super deflated and frustrated at the moment. I have one negative account (Citi/BestBuy) left on my Transunion report and a few left on others, TU just allows for early exclusion much sooner.

When I first requested a EE through TU on the other negatives, I was surprised that the Citi/BestBuy was rejected. Upon further investigation, it was due their estimated removal date of 8/2023, and "last payment made" of 11/04/2016. But it was reported with 0 balance. This is where I should have left "well enough alone".

The actual DoFD based on what records I have (unfortunately, not statements, but memory and reminder to pay emails from them) should be 10/2015.

It just got to me. Everytime I would see one account with negative information, and knowing it was inaccurate. So I disputed again. But included the email records I had.

Got an alert this morning that my TU score dropped 50 points. EQ appears to have dropped 40 and still waiting for EX to see if it updates.

They updated the balance to report what the balance was which is 150% of the credit limit. In addition on TU, the estimated removal is now 11/2023. And showing my first 30 day late in payment history of 2/2107. It doesn't appear that anything else has changed.

What are my options here? I was thinking first step is calling Citi and requesting my statements. And maybe filing a complaint with the CFPB.

I am "fine" with it being on there. Even showing the balance. Just not ok with it being reported inaccurately. As if it was, I could probably get it removed via EE with TU now. And it would come off here in a few months with the others as opposed to a year+.

[coldfusion]

There are 2 things to keep in mind that are relevant. 

It is the responsiblity of the creditor to provide accurate information to the reporting agencies.

It is (only) the responsiblity of the reporting agencies to accurately report the information provided by the creditor.

I would myself take the mindset of a dispute filed with a credit reporting agency as only triggering a confirmation that what they are reporting does accurately reflect the information provided by the creditor.  I don't assume that it also triggers the creditor to properly investigate internally to validate  that they are in fact providing correct information. 

If this were me (note that I'm not an attorney or otherwise claim to be an expert) at this point I would consider contacting Citibank directly and engage with them to confirm whether or not they are providing the CRAs with accurate information.  If they claim the information they are providing is accurate and you can show otherwise,  file a CFPB complaint against Citibank.

Assuming that the outcome of the dispute leads to Citibank updating their information, they will report back to the CFPB and once they provide that updated information to the CRAs it can take 30 days for your report(s) to be updated.     

If Citibank confirmed in their report back to the CFPB that they updated their information, and the CRA has not updated it in 31 days, I would then file a  CFPB complaint against the CRA noting that Citibank already confirmed they are providing updated correct information to the CRAs as the result of a previous CFPB complaint. 

IME it would take TU just about the full 30 days to update with information Citibank provided.  If I needed to file a CFPB complaint against them I would also expect they will also take just about the full 30 days to respond and in their response they would likely whine to the CFPB. 

[LukeJoseph]

Thank you for the reply.

It looks like they have updated all CRA's now. I must have really upset someone.... lol. I didn't even dispute the other CRA's.

I tried calling but the person could not help, and their "specialist" line was closed for the day. The first question that I wanted to be answered is just "when was the last payment made". If they can answer that, which should coincide with my data, then I feel like that could start the conversation of inaccurate reporting. And also ask them to supply me with at least a few months of statements. If they don't have this data, then it is CFPB. And if they don't have the data, at least I have emails from them for the dates that it should be.

Still surprised on how much the score dropped. It's like it is reporting like it is a brand new charge off.

How much does the payment history affect the score? Even that is further off than the "DoFD".
Experian Citi/BB Payment History

[tnhomestead]

If your date of 10/15 is right, then 11/23 would be the correct drop off date. That puts the ee as 5/23. As far as them reporting the co every month, that's totally legal. As I found out the hard way like you. The problem is they won't remove it based on a date/amount being wrong. Even if it's disputed all that happens is it gets corrected and again shows up as new and hits you again.

So am not sure where the inaccurate data is, but may not be a great idea to keep poking. I learned and am now waiting for my last 2 to go bye bye. Good luck!

[LukeJoseph]

10/2015 would put the drop-off date of 7 years to 10/2022. And my EE would be now, at least with TU.

I just really wish I never "poked the bear" to begin with, and just left it alone. I mean it's an extra year. But it was reporting with 0 balance and I don't believe hurting my scores too much. I was slightly over 700 on TU, just under on EX, and EQ takes the longest to remove other baddies, but still mid 600's. Now mid 6's on EX and TU and low 6's on EQ.

I suppose one option (if fighting them doesn't work) is to just freaking pay it to get the balance to report to 8 again. Not sure how much that would help or hurt. I suppose if they would agree to delete.

Or I just wait the year-ish. I don't have a need for additional credit right now. But moderately concerned that some of the banks may get spooked by the lower scores and close my more recent cards (Discover, NVFCU, Ebay Mastercard, Lowes, Dover).