PNC Bank

[Oyiwaa]

Hello, 

PNC bank is reporting a $300 balance on a secured card I originally had with National City (before PNC bought them).  This dates back to 2008 and when I fell on rough times I fell behind on my payments.  So they charged it off around 2010, closed the account and have been trying to collect.  It has  I disputed and it came back verified. I never DV'd PNC bank though.

My goal is to have the account deleted, but I thought I could go to one of the local branches and tell the manager and explain that I want to rehabilitate my credit, and settle past debts.  I'd then ask them to give me a secured line of credit (e.g., $300) for a trial period of 6 months and if I made all payments on time, they agree to delete the tradeline, or EVEN BETTER, they report the tradeline as a POSITIVE account that backdates to the original account (which is now charged-off). 

Since I didn't DV PNC, I decided to compare their reporting across the 3 CRAs, and lo and behold, there were so many inconsistencies regardig the dates the accounts were opened, closed and DOFLD, though their balance were correct, but I have no way of knowing if it is accurate. 

So before approaching the local bank manager, I thought I should send a 623 to them requesting an investigation into some of the inaccuracies.  Would this approach jeopardize future chances of settlement and / or PFD or should I just go ahead and make an appointment to speak to the manager and see what happens?

Thanks - Oyiwaa

[RobertEG]

First, the DV process applies only to debt collectors, not original creditors, so you are not able to send them a DV.

As for sending a direct dispute, if the charge-off iself is accurate (i.e., the debt was delinquent at the time they took that bookeeping measure), then its reporting would not be disputable.  If other inaccuracies are present, you can certainly send a direct dispute to challenge them, but resolution of any dispute on their part always affords them the ability to correct any inaccuracies, so most probably will result in correction, not deletion. 

After a charge-off, you are faced with the negative fact that they have held your debt to have reached the state of having become "uncollectible" in their opinion.

Their view of granting any dispensation of that reporting is most likely colored by that fact.  Unless the inaccuracies are now affecting your CR in some substantial fashion, I would pursue correction first via informal request to them, thus not further hardening their impresssion in any future decision to grant a deletion of their accurate prior reporting.

Plus, a dispute will result in a flag being placed in your file, making your FICO scoring incomplete until it is resolved.

I would approach with an olive branch.