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So in this whole credit journey I have had ups and downs, and had an ok time dealing with them all.
Biggest head ache then and now is the credit bureaus themselves!!!!
They BLINDLY validate, or they simply as the creditor "is this his? yes? ok" it HAS to work that way lol.
I had a student loan debt on my credit, yet I never went to school, alway came back "Validated" HOW? lol
SO I need to know, how do you guys deal with the dreaded "Validated" letters?
The CRA's do not just validate a trade line they contact the creditor to validate the information. If the trade line is not yours and the dispute process does not help then you should contact the creditor and get more information to see if it's fraud. If it is, you should tell the CRA's that the account is a fraudulent account. Other experts in here can tell you more about how to remove the account.
@lucknpat wrote:The CRA's do not just validate a trade line they contact the creditor to validate the information. If the trade line is not yours and the dispute process does not help then you should contact the creditor and get more information to see if it's fraud. If it is, you should tell the CRA's that the account is a fraudulent account. Other experts in here can tell you more about how to remove the account.
right they contact the OC but they just accept when they say "yes its his" thats not an investigation what so ever lol
If the bureaus keep validating that it's yours and it's not, then you need to file a CFPB complaint and/or get your state's attorney general involved.
You owe me 500. Experian, does he really truly owe you? Me yup.
Validated.
Got 2 over 11 years old that come back validated. They were sold and so old the oc no longer even has records.
Like they said, go to the listed creditor and find out what the deal is. If your positive about it, file a police report for fraud.
In my mind thats exactly whats happening.. "you sure its his?" YUP okkkkk Validated..CFPB;s wings are clipped, they don;t hold any weight what do ever... they tell them "we will investigate we promise" and CFPB pisses off and you can RE file because its a duplicate...
@Stugotsv10 Let's start with are these private student loans or federally managed?
If they are federally managed you need to talk to the DoE or the loan processor they have in charge.
If it's private you need to talk to the lender.
You can't just go "poof, it's not mine go away" and that's the way you are acting.
If this is fraud it means someone opened a loan in your name and that isn't the responsability of the CRB or the OC, it's your responsability to protect yourself.
Take appropriate steps. Get hold of the OC, verify the information, file a police report for identity theft and fraud, then turn it into the CRB.
Why are you resistent to following appropriate steps against someone who you claim fradulently opened a student loan in your name?
Oh, FYI never having been to school does not mean a student loan isn't the debt of the person named. People get student loans then keep the money they recieve and never attend. It does happen.
There are procedures you have to follow for ID Theft accounts and if this is a SL in your name you need to get it taken care of as the government will dox your Social Security if its not paid off or otherwise adjudicated as a fraudulent account.
@gdale6 They never stated if this is a DoE or private loan. It's possible it's a private lender student loan which instead of the government coming after them they need to worry about being sued over it.
it is private.
and I have went the proper channels, CFPB, FTC and BBB.
The student loan company has no record of ME, nothing under my name, ss, DOB, Email or address (or even an old address like my moms where I grew up) however as stated, when challenged by the credit bureaus OR BBB, FTC, CFPB they fight it and actually WIN... based on what?? IDK
They told the FTC, CFPB and BBB they will "Look into it" and these morons believed them, and told all 3 credit bureaus it was "Valid" and they also believed them.
So my main question here is.... when we demand to see PROOF it is ours, such as a signature or contract or agreement etc. in our dispute letters, CLEARLY no one HAS to show them, so who is actually investigating? furthermore who is governing these so called "investigations" ???