creditor verifies with 2 bureaus but refuses one!

[Anonymous]

I need some advice and information.  I am in the process of refinancing my mortgage.  I have a letter from GMAC to remove a 30 day late.   My mortgage company can do a rapid score update with the letter.  The letter was submitted to the service that does rapid score update.  Experian and Equifax verified with GMAC verbally to remove the late.  GMAC refuses to verify with Transunion the information on the letter to delete.  GMAC put all three credit bureaus on the letter and said they would contact each bureau about the delete.  Now, there is a dispute through Transunion with GMAC to get the information updated.  Can creditors pick and choose which credit bureau they would like to verify with?  Is this legal?  Can they verify with some and not the other?  Is there any verbiage or law I can use to make them verify their own information?   Help!  This has placed my refinance on the back burner for 45 days.  I need out of my old mortgage now.

[Anonymous]

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Geenie wrote:

I need some advice and information.  I am in the process of refinancing my mortgage.  I have a letter from GMAC to remove a 30 day late.   My mortgage company can do a rapid score update with the letter.  The letter was submitted to the service that does rapid score update.  Experian and Equifax verified with GMAC verbally to remove the late.  GMAC refuses to verify with Transunion the information on the letter to delete.  GMAC put all three credit bureaus on the letter and said they would contact each bureau about the delete.  Now, there is a dispute through Transunion with GMAC to get the information updated.  Can creditors pick and choose which credit bureau they would like to verify with?  Is this legal?  Can they verify with some and not the other?  Is there any verbiage or law I can use to make them verify their own information?   Help!  This has placed my refinance on the back burner for 45 days.  I need out of my old mortgage now.

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Well no they cn't really pick and choose BUT they don't have to remove it if it is accurate.  If they sent you a letter, you may have actionable cause but I'm not sure I would push it because if it is accurate, they could always claim a mea culpa and reinsert on all three.

[Anonymous]

The information is not accurate that is why I have and received a letter to remove the late.  GMAC supposedly sent a letter to all 3 credit bureaus but will not verify with Transunion that the removable of the late by their letter is true.  They refuse to talk to Transunion.

[Anonymous]

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Geenie wrote:

The information is not accurate that is why I have and received a letter to remove the late.  GMAC supposedly sent a letter to all 3 credit bureaus but will not verify with Transunion that the removable of the late by their letter is true.  They refuse to talk to Transunion.

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I seeee!!!  In that case GMAC has thirty to 45 vdays from the date of your request to remove it,.  Since it is obvious they have not complied.  Pick up the phone, call them, explain that their delay is putting your mortgage in jeopardy and that you will first report this to the FTC and then seek legal counsel for damages, if it is not corrected immediately.

www.ftc.gov

[Anonymous]

When disputing TU, they HAVE to varify the information with the OC. If the OC does not respond/communicate or otherwise "varify" the information, the CRA (in this case TU) has to remove it from your CR.

[Anonymous]

Transunion has called them to verify this letter to temove the let themselves.  GMAC refuses to speak with them.  Should Transunion just be removing this?  I should threaten GMAC with FTC?

[Anonymous]

Honestly, I would write the FTC and explain it just like you did here.  First calling GMAC cause they may get off the pot in response since they DO have to verify it.  I would let the FTC sort it out and they usually are pretty good about it.

[Anonymous]

It sounds to me the problem is mostly with TU.... if they can not varify the informaiton then they need to remove it, period. Have you tried faxing the letter (that states no lates from GMAC) to TU?

[Anonymous]

I read it the same way that brammy did.

Seeing as it  is inaccurate reporting from GMAC  and they will not correct it with the CRA, you have a right to sue them. Just because they sent you a letter does NOT let them off the hook.

Send them an *ITS* letter and give them 5 days to correct it. CMRRR

[Anonymous]

It is to my understanding that if a TL does not reply to a verification/investigation/dispute, then the CRA must delete the requested dispute after 30 days.

I may be wrong about this, but I believe this is correct.