Dispute with Experian Itself

[Asilomar]

I have an older car loan from Capital One that was paid off in 2013.  I had quite a few late payments (13 to be exact) and even ventured into the 90 day late category twice.  At one point all 3 bureaus were reporting that the car was charged off approximately 6,300 dollars.  This wasn't accurate so I disputed it with the credit bureaus and contacted Capital One to see if they had a mistake on their end.  They did not have the account as a charge off with a balance and sent me a letter saying so and that the car was paid in full.  

When I got the results back Equifax and TransUnion were now reporting correctly.  Experian, however, was still reporting the charge off.  So, I disputed it again.  Same result.  And again.  Same result.  I then tried calling Experian to see what more could be done.  I explained to them what I'm writing here and uploaded a copy of Capital One's letter via their dispute portal.  

It's now been 8 months and I cannot get Experian to correct this information.  I have asked Capital One to do an internal dispute, which they did, and all I got back was another letter saying that the account was paid in full.  

I have no idea what to do next since the problem isn't with the original creditor but Experian itself.  Does anyone have any experience in such matters??  

Thanks in advance!

[medicgrrl]

Have you spoken with a supervisor?

[Maximus5403]

File a CFPB complaint against Experian.

[RobertEG]

When you file a dispute via a CRA, they (the CRA) is required to refer a copy of the dispute to the furnisher (in this case, the creditor).

The furnisher is then required to conduct a reasonable investigation and report their findings back to the CRA within the CRA reinvestigation period.

The CRA must then consider the results of the furnisher's investigation when they make their final determination of their results of reinvestigation.

Thus, the CRA must have in its files a verification of the accuracy of the reported charge-off communicted back to them by the creditor in order to have verified the results of your dispute.

A letter from a creditor stating that the debt has been paid has no relevance to the issue of whether or not there was a previously reported charge-off.  Paying the debt does not remove a reported charge-off.

Thus, there is apparently a huge disconnect between what the creditor is stating in their communications with you and what they are reporting back to the CRA.

The CRA would not have a basis for verification of your disputed accuracy of the CO unless they received a finding from the creditor verifying the accuracy.

You can file a complaint with the CFPB, but they are in no better position to determine the actual facts than you are.

Yes, they can send a letter to the creditor or CRA requesting clarification, but they would need to file a civil action to compel deletion.

You can file a civil action asserting a lack of reasonable investigation of your dispute, and get review of all the facts by the court.  FCRA 623(c).

As a preliminary step, I would suggest that you first file a requst under the provisions of FCRA 611(a)(6)(B)(iii) and FCRA 611(a)(7) for a statement from the CRA detailing the method and procedure they used in their verification of accuracy in your dispute.  That will provide you their statement of whether they complied with their statutory requirment to have referred the dispute to the creditor, and received and considered their findings as part of thier reinvestigation.

That will support any complaint filed with the CFPB or any civil action asserting lack of compliance with the dispute process.

[medicgrrl]

Has Cap1 stated they've updated the CRA's or are they just sending you a letter stating what the account status is? They should have updated the CRA's. You may have luck in emailing the CEO

[Asilomar]

Medicgrrl, yes I have.  Twice.  It's not easy to get to a supervisor and neither has done any more than the usual nothing.

[Asilomar]

Maximus5403, what is a CFPB complaint and how do I file it?  

[Asilomar]

Medicgrrl, they must have updated the CRA's because both Equifax and TU were corrected.  On top of which I've been told repeatedly by Capital One that there's nothing in the language of my account that says anything about a charge off.  

[Asilomar]

RobertEG,  I do appreciate that you took the time to write all this out but I admit some of it was over my head.  I have no idea how to file the request you're talking about nor do I understand "FCRA 611(a)(6)(B)(iii) and FCRA 611(a)(7)".  Would you mind further explaining?  

The reason I brought up the letter from the creditor was because I was asked to provide to Experian all the evidence I had to support my claim that there never was a charged off balance.  

I do realize that paying a charge off doesn't remove it but in my case there never was one and at least to ME, Capital One says the same.

But you're right -- there is a huge disconnect somewhere and I'll be damned if I can figure out where or why.  

[RobertEG]

Simply send a letter to the CRA requesting "a description of the procedure used to determine the accuracy and completeness of the information that was subject of your prior dispute." Cite FCRA 611(a)(7) as the basis for your request so that there is no confusion on their part as to what you are requesting.

That sets a 15 day period for them to send you the requested description.

That will provide you with their statement that the furnisher actually responded by verifying the dispute.