Disputed a account for early removal from Experian they updated...

[Ragelog]

I recently called Experian for an early removal of a Charged off account due to fall of in December 2014. They told me I had to dispute in doing so they updated it from a Charge off to a normal CLS (closed account) and now it will stay until 2018. So overall this isn't correct but it now seems to report as a positive tradeline. So what will help me more get it corrected to totally remove it or just leave it alone.

It is with HSBC.

Thanks,

Sam

[Anonymous]

SInce it was to fall off in December you shouldn't have done anything, but I am sure you learned the hard way. Hopefully someone else can chime in, but I would maybe contact the CB's with this new change.

[Ragelog]

Likely shouldn't have unfortunately these forums promote trying to push for early removal when something is within 6 months of falling off. I think this may have worked out better since a once negative account now reports positively although not correct.

[Anonymous]

Yes, depending on how thick your profile is it is probably helping your AAoA out. 

[RobertEG]

The entire process of filing a dispute requesting earlier credit report exclusion is, in my opinion, not proper, even though it is advocated on the site.

There is nothing inaccurate about information showing in your credit report until such time as the credit report exclusion period ahs expired, and thus it is NOT a disputable issue under the FCRA dispute process.

Additionally, credit report exclusion does not apply to OC accounts, it applies to individual items of information reported under the account.

If the CRA chose to exclude the charge-off prior to its full 7 years plus 180 days period from DOFD, then that is as far as the statute applies.

Deletion of the OC account is not a provisioon of the FCRA.

Yes, they are correct in not deleting the account.

[ms_cora]

Similar thing happened to me. I disputed an HSBC account on Experian as account not mine results came back as updated and is now a closed account with $0 balance listed in the satisfactory section. The account actually isnt mine but I have bigger fish to fry and its not hurting me now. I seems like there is no one willing to actually verify information so they are like heres a positive tradeline, now go away.

[Ragelog]

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@RobertEG wrote:

The entire process of filing a dispute requesting earlier credit report exclusion is, in my opinion, not proper, even though it is advocated on the site.

There is nothing inaccurate about information showing in your credit report until such time as the credit report exclusion period ahs expired, and thus it is NOT a disputable issue under the FCRA dispute process.

Additionally, credit report exclusion does not apply to OC accounts, it applies to individual items of information reported under the account.

If the CRA chose to exclude the charge-off prior to its full 7 years plus 180 days period from DOFD, then that is as far as the statute applies.

Deletion of the OC account is not a provisioon of the FCRA.

Yes, they are correct in not deleting the account.

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What does OC mean? I know it was due to fall off on it's own in December now with them erroneously updating to a positve account I am not even sure what to do. I would be fine with it falling off like it should but not they have updated it incorrectly and made a larger mess of things.

[RobertEG]

OC stands for original creditor.

[Ragelog]

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@RobertEG wrote:

OC stands for original creditor.

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Ok that is what I thought it meant. So you are saying a negative account isn't supposed to be removed after 7.5 years from the DOFD if it is an OC account?

[RobertEG]

Correct.

The exclusion provisions are all set forth in FCRA 605(a), and apply to adverse items of information reported to a CRA.

OC accounts themselves are not adverse items of information.

In distinction, FCRA 605(a)(4) includes a collection as an adverse item of information with its specific exclusion period, so they become excluded in their entirety.

 The same is not true of OC accounts.