I called Experian this week to get a credit report address issue corrected. On a whim, I asked the rep about 2 credit card delinquencies I have from 2014 from when I went 120 days past due because of some medical issues. He said he can dispute both accounts for me and ask them for a courtesy delinquency adjustment. I didn't realize they could do that, but I said sure! He was gone for about 10 minutes. When he came back he said he typed up a really good dispute so there's a chance they might adjust it.
Just a bit more info on both accounts: one is Amex, the other is Capital One. Amex closed the account outright, no help whatsoever. Capital One worked with me through their Financial Hardship department to bring it back to a current status. I've paid off both debts and I still use the Capital One account.
My question is, what's the likelihood of them giving me a courtesy adjustmen? And if they do adjust it, would it apply just to Experian or all 3 bureaus? Lastly, should I send in my own letter just to strenghten my chances?
A disute via a CRA is based on an assertion made by the consumer that information on record with that CRA is inaccurate.
If the information was reported by a "furnisher," it must first be referred to that furnisher for their investigation.
After receipt of the response, the CRA than completes their "reinvestigation" of the disputed accuracy, and makes the determination as to whether the information is to be verified as accurate as reported, is to be corrected so as to overcome the inaccuracy, or it neither can be done, the disputed information is to be deleted.
For a CRA to unilaterally conjure up an asserted inaccuracy is to dispute their own information. They already have a statutory requirment to only report informtion that they reasonably determine to be accurate. See FCRA 607(b).
Thus, if they conjure their own statement of inaccuracy, they should correct or delete on their own volition without any need to investigate their own assertion.
It is tantamount to a creditor reporting inaccurate information, and then disputing the accuracy of their own reporting. They have the statutory requirment to correct any inaccuracy on their own (FCRA 623(a)(2)).
The CRA development of a dispute of its own reporting is, in my opinion, an improper procedure under the FCRA.
Once a "dispute" has been resolved via a determination by a CRA, the consumer loses the subsequent right to initiate a direct dispute with the furnisher.
The direct dispute rules, set forth at 16 CFR 660.4, explicitly state that a direct dispute that is substantially the same as a prior dispute resolved by a CRA should be dismissed without any investigation by the furnisher as "frivolous or irrelevant." The consumer must pick one dispute method of the other, and has no right to both.
Personally, I would cancel any "dispute" that is filed by the CRA.
It appears that you have a GW situation, and yes, having to deal with a prior, frivolous dispute could act contrary to their willingness to grant future good-will deletion.