I don't even know how to begin fixing this. The pictures say it all. Do I just take it directly to the credit union and see if they can do anything since they are the ones not reporting it correctly? Is it that easy?
It's why Discover and BOA are showing this info from TU that isn't true:
Are you saying the auto loan is actually showing on your credit report as negative?
If so, the quickest way to solve it is go to the credit union and see if you can get them to print out a letter (make sure it has their letterhead) stating the true status of the account. Ask them to put on the letter to include a direct line for the CRA to call and verify the letter with a live person at the bank. Send this to the credit bureaus and ask them to correct the item.
Make sure you hand write your letter asking them to correct the information, it's the best way for the CRAs to actually read it, rather than just scan it into the E-oscar and press a few buttons without giving it any real attention. Be sure to include your information so they can access your report.
Hope it helps,
Go to credit union or call, it is their responsibility to fix erroneous information. Likely was either human or automated error, regardless they would be the ones to contact the bureau. You can dispute it but in my experience that will take longer. Credit unions usually have a point of contact for such issues that is usually in the corporate office, hence my suggestion to call as you will avoid going into the branch just to have to deal with someone from corporate anyway.
Tydawg is correct.
FCRA 623(a)(2) places a statutory requirement on any party who has furnished information to a CRA to thereafter "promptly" update that information as necessary to maintain its current accuracy.
The CRAs will normally not change any reporting based on a communication from the consumer, even if a letter from the furnisher is provided.
The burden is on the furnisher to update their own reporting.
As for the copy of the account info, it is not as blatantly inaccurate as it might appear.
The statement that an account is "derogatory" is an interpretation provided by th party who produced the credit report.
It is not something that is per se reported by the creditor.
An account that has any adverse information in its history can be referred to as a "derogatory" acccount.
The account apparently had a prior 30-late that is less than 7 years ago, and that derog continues to be reported.
That does not mean that the account has a current delinquency status.
To clarify what is actully reported by the creditor, when an account is delinquent, is has a current status of delinquent at that level.
When the account is thereafter returned to good-standing, the prior delinquency is maintained in the payment history profile, and the current status becomes paid or pays as agreed. The derog status prior to the new current status is retained under a code called the Payment Rating, which would for the posted scenario be 30-llate.
Thus, the account would, once paid, have a currrent status of paid, a payment rating of 30-late, and a payment history profile still showing the prior 30-late.
In that regard, the vendor of the credit report can accurately refer to the account as derogatory.
The statement in the credit report is not itself subject to dispute, as it was not "reported" by the creditor per se, and not an actual element of your credit file.
I would expect no changes to be made as a result of a dispute of the categorization of an account with reported delinquencies as being "derogatory."
Is it actually an error?
Were you never late on this loan and it's now paid in full?