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EQUIFAX HELP!

kylenian
Established Member

EQUIFAX HELP!

I'm currently in the throes of obtaining my mortgage and Equifax has really thrown me for a loop.  Equifax was reporting late payments for a transferred account for 6 months after the account was closed.  I disputed this and the result was that they changed my current status from "Pays as Agreed" to "Currently 180+ Days Late".  This dropped my score about 30 points.  I've sent and re-sent documentation.  Talked to the original creditor who insists that they haven't reported a thing since 2012.... I've more than proven that the account was paid and transferred in 1/2013.  How can I get Equifax to reflect that in my current status?  I can'r dispute again... that simply puts a red flag on my report... and I've called and called... I've literally spent hours on hold.  I'm so frustrated.

Message 1 of 7
6 REPLIES 6
RobertEG
Legendary Contributor

Re: EQUIFAX HELP!

You have two options.

If you feel that the CRA has violated their requriement to take all reasonable measures to mantain the accuracy of your information, you can file a complaint with the CFPB or you can initiate your own civil action for their violation of the FCRA.

 

I would first file a formal complaint with the CFPB if you dont need additional facts to support your allegation.

Otherwise, you will likely need to file civil action to compel discovery of the needed facts.

Message 2 of 7
RonM21
Valued Contributor

Re: EQUIFAX HELP!

This is interesting, being thst it seems you actually have the factual info that should get this fixed. Going by the options oresented in the above post, I'm curious how they respond once you make that next move.
                

TCL: $306,100Utiliz: 6%AAoA: 5yrs 2mOther: Lease, Loan, *No MortgageCollections-Lates-BK's: 0

LWS-35k | BOA-50k | AMX-32.4k | DISC-33.6k | ALNT-25k | NFCU-33k | BARC-15k | BBUY-12k | CSE-10k | CP1-10k | CITI-11.7k | PF-38.4k


Message 3 of 7
RobertEG
Legendary Contributor

Re: EQUIFAX HELP!

"FCRA 607(b).  Compliance procedures; Accuracy of report

 Whenever a consumer reporting agency prepares a consumer report it shall follow reasonable procedures to assure maximum possible accuracy of the information concerning the individual about whom the report relates."

Message 4 of 7
tmifune
New Member

Re: EQUIFAX HELP!

Thank you this info!! I am also having issues with Equfax and have filed a compaint with CFPB

Message 5 of 7
tmifune
New Member

Re: EQUIFAX HELP!

Look at what your CFPB info did for me....

 

STATUS

 

Company responded
Equifax 3-Bureau Credit Report and Scores said:
Explanation of closure Equifax has reviewed your complaint and its records regarding your dispute.
The Chase account 722535 has been deleted from the credit file. Written confirmation has been mailed to you on 5/20/16.

 

Relief
Equifax advised the consumer that the disputed account has been deleted.

Message 6 of 7
kylenian
Established Member

Re: EQUIFAX HELP!

tmifune - how long did your resolution take after you filed your complaint?  i'm ready to cry.  my original creditor updated everything on the account to report correctly on 6/7.  i received notice from equifax that the account had been updated.  then today i get an account change notification from myfico... EQUIFAX CHANGED IT ALL BACK!!  I'm supposed to settle NEXT FRIDAY!

Message 7 of 7
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