Don't understand disputing

[RobertEG]

The FCRA dispute process appllies to the completeness and accuracy of your credit file with a credit reporting agency (CRA).

FCRA 611(a) is the relevant provision, and states:

_______________

• FCRA 611.  Procedure in case of disputed accuracy [15 U.S.C. § 1681i]
  (A)Reinvestigations of Disputed Information
  (1) Reinvestigation Required
  (a) n general. Subject to subsection (f), if the completeness or accuracy of any item of information contained in a consumer’s file at a consumer reporting agency is disputed by the consumer and the consumer notifies the agency directly, or indirectly through a reseller, of such dispute, the agency shall, free of charge, conduct a reasonable reinvestigation to determine whether the disputed information is inaccurate and record the current status of the disputed information, or delete the item from the file in accordance with paragraph (5), before the end of the 30-day period beginning on the date on which the agency receives the notice of the dispute from the consumer or reseller.
  ________________________________

myFICO is a division of Fair Isaac Corp, and does not maintain the credit file information, which is obtained from the CRAs.

Rather, it makes observations and interpretations of the information it obtains from the CRAs.

Inaccuracies in those observations and interpretations is thus not subject to disputes under the FCRA.

It is a business matter between the consumer and myFICO.

You would handle just as you do business complaints with other businesses.

Compliance is best sought through federal or state refulatory agencies charged with enforcing information retention and disclosure regs, such as the CFPB, FTC, FCC, etc private organizations devoted to business practices, such as a Better Business Bureau Complaints, or bring your own civil action with the courts.

[805orbust]

This is maddening. It annoys me how little leverage there can be at times like this when you're trying to resolve issues like this.

[Anonymous]

I'd like to thank everyone who responded to my original post. After about 48 hours straight of me trying to figure this out, I finally did.

In 2009 I was deliquent on a $166 student loan, which I paid off in 2010 and closed. Guess what? That small loan is STILL on my record because it's been shuffled from multiple loan servicers over and over as they all go out of business and sell their loans. Long story short,  I had to get the US Department of Education on the phone to track down the original loan holder, which is ACS...which was investigated and shut down for poor record-keeping and botching up receipts of payment. Turns out they never marked my account as paid.

The WEIRDEST thing is they never marked it deliquent, either. Ever. It is says paid on time/never late, etc, dating all the way back to 2014. So the "serious deliquency" that Experian and Equifax are reporting? It is actually a remark from ACS that my student loan was "transferred to the government." I saw that before but never really thought anything it. Stupid me...that means it has been reported EVERY MONTH for the last 7 years that I am currently in default on a student loan. I always wondered why my credit score hovered around 50 points lower than it should.

I have disputed this with Experian and Equifax, and the Dept of Education has provided me with a letter to prove it was paid in 2010 and I owe them nothing. This derogatory remark has cost me so much money over the years in car loans, and now my personal loan to consolidate my debt. I would get a lawyer if I knew who to sue. The Dept of Education says they aren't doing the reporting, that Conduent is doing it. But Conduent has no record of this loan at all. They said Dept of Education is to blame.

I need to take a break and have a big f'in drink before I decide what to do next. I'm so angry at myself, not to mention everyone else.

[Horseshoez]

@Anonymous, I totally understand your frustration and wanting to "make someone pay" for all of your aggravation, however, and this is a BIG "however", you've (hopefully) gotten the issue resolved and any further actions on your part will most likely NOT give you any financial or emotional satisfaction.  Said another way, it might well be time to move on.

[Anonymous]

Oh yes I completely agree 100%. Will move on when it's resolved. I neither have the time nor energy to sue anyone, anyway. I do need to figure out how to refinance my two loans once this is removed and my score goes up...that will be a happy task, though!