Meets requirement of the Fair Credit Reporting Act.

[Anonymous]

I disputed several items with Exp and my statement reads: "Account information disputed by consumer (Meets requirement of the Fair Credit Reporting Act).

What does this mean? Please help. Should the info still be reported if it meets FCRA? Thanks.

[llecs]

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hostful wrote:

I disputed several items with Exp and my statement reads: "Account information disputed by consumer (Meets requirement of the Fair Credit Reporting Act).

What does this mean? Please help. Should the info still be reported if it meets FCRA? Thanks.

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It basically means that your dispute was verified by means of the FCRA.

[Anonymous]

It basically means that your dispute was verified by means of the FCRA.

What exactly does this mean?  My spouse filed a dispute for late payments showing on the credit report for an account that was closed (it was acruing inactivity fees).  He recieved an email from the credit agency indicating that the file was updated, with a link to the investigation and free updated copy of the credit report.  The new credit report shows this account in good standing with no late payments.  But it still has "Account information disputed by consumer (Meets requirement of the Fair Credit Reporting Act)" listed.

Does this mean the discrepency has been resolved or is it still under investigation and may again become derogatory?  Will the statement go away eventually or does it not matter?

[cdtotten]

If the account is now showing a positive history and has been updated, the dispute has been completed. They should have cleared the comment, but forgot to most likely. You can contact them via phone and have the comment removed.

[marty56]

IMHO I would leave it be since it doesn effect your FICO score and you don't want the CRA or the OP to mess wih a good trade line.

[Anonymous]

I guess my concern is "Account information disputed by consumer (Meets requirement of the Fair Credit Reporting Act)" might stick out as a red flag to underwriters for a mortgage or car loan.

I read a thread in a different forum which seems to imply that this statement is viewed negatively and can lead to an auto-rejection on loan paperwork.

[Edited to remove a link to a non-permitted website.]

Message Edited by Lel on 02-10-2010 08:55 AM

[DI]

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@Anonymous wrote:

I disputed several items with Exp and my statement reads: "Account information disputed by consumer (Meets requirement of the Fair Credit Reporting Act).

What does this mean? Please help. Should the info still be reported if it meets FCRA? Thanks.

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Did you dispute the trade-line more than once?  If so, that will cause the CRA's at their discretion to placed the statement on your credit report.  

[Anonymous]

No, he disputed it once on the website.

About a week later, the status was updated and the new credit report showed paid in full and it was listed with the positive accounts.  It just had that statement attached to it.

[newstart2010]

call em and request that the statement be removed now that it has been corrected.  and thank them for fixing it.

[DI]

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@Anonymous wrote:

No, he disputed it once on the website.

About a week later, the status was updated and the new credit report showed paid in full and it was listed with the positive accounts.  It just had that statement attached to it.

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As long as the account says Paid As Agreed/Never Late it's not a big deal.