Drafting ITS Letter (& Repercussions?)

[Boldilocks]

See here for futher info:

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&thread.id=84335

As luck would have it I keep and scan and file every letter in and out - but I can't find the feckin letter they sent saying that they were going to continue to report.  (They do continue to report though). It'll turn up though, it wouldn't have been thrown out and hopefully was just mis-filed.

In the meantime my question is, how do I embark on an intent to sue?  Any templates?  And could there be any pitfalls?  I mean, is there any way that legally they are in the right and we aren't?  Could we get into any hot water?

[Boldilocks]

OK, in a bizarre stroke of good fortune, I got another letter from EX today (probably as a result of the BBB "investigation" ) saying the same thing as the letter that I can't find about continuing to report for 7 years.

"Paid/chargeoff" means that the credit grantor wrote the account off as a loss.  After the account was written off, it was paid.  This information will remain on the personal credit report for seven years from the initial missed payment that led to the written-off status."

Now, I do not have a DOFD on any of the reports - it just lists the drop-off date as September 2010. 

Is what they are doing legal based on the what the letter states?  Do we definitely have the law on our side? 

Message Edited by Boldilocks on 09-26-2009 01:38 PM

[RobertEG]

You have two separate statutes governing the fall off of information from your CR.

FCRA 605(a) mandates that each OC account deinquency drops at 7 years from its delinquency date.  This has nothing to do with DOFD.

FCRA 605(c) mandates that a charge off or collection, which are separate reports to your CR, must drop at 7 1/2 years from the DOFD on the OC account.  You can determine your DOFD in two ways.  The best way is to go back to your personal account records.  If they are not available, review the monthly delinquency reportings listed in the monthly reporting history listed in your CR.

Either way, locate the 30-day delinquency preceding the CO or CA reporting.  That is your DOFD.

Paying debt does not mandate deletion of the prior derogs.

Message Edited by RobertEG on 09-27-2009 06:42 PM

[Boldilocks]

I no longer have the records, but this is an old AT&T account and I know that it was from a separate fee at set-up that wasn't part of our main bill, some time in 2003.  Our EX reports always give the drop-off date as September 2010, so it seems more or less in line - though I think the account was more like December 2003.

I know that paying the debt does not mandate deletion - just that once a collection/charge-off debt is paid in NY then the CRTP shrinks from 7 years to 5 years.  If the fall-off date is listed over and over on EX reports as September 2010, then I am assuming that the new fall-off date, once the debt was paid, became September 2008.  But Experian says they will keep reporting it until next year.

I think I'll probably just have to give up - this intent to sue stuff is just far too complicated and involved for me to get into on my own.  Experian wins, again.

[Anonymous]

You are correct. NY paid collections must be deleted from all CR 5 years from first default not date paid.

You need to file a complaint with AG in your state. Also with the FTC. This is against the CRAs not the CA!!

Never make a statement to the FTC or AG that you intend to sue.

An ITS letter is in your own words.  In the letter put the NY statue and copy of everything that you have sent to the CRA.

Give them 10 days to delete.  your wording must be correct.......do not threaten to sue unless you will! You should use the words like.....I will use all legal remedies at my desposal in order to get this corrected.

This is telling them that you may or may not file a suit.

[Boldilocks]

Thanks Happy, I guess I might try it.  I think they are in violation for not deleting, and also for ignoring the OC's request to delete? 

I have already submitted complaints to the FTC, BBB, and NY AG's office.  BBB closed the case after EX didn;t respond to them, nothing from the FTC, and a letter from the AG about a month ago saying they would look into it.

There is no CA involved - well, only AT&T's internal CA - AT&T Credit Management Services.  Does that make a difference? AT&T have been fine, actually - they have requested twice that EX delete it.  Although, I asked them for a letter stating that they had asked for the deletion and thyey haven't sent me that.    

But what if EX doesn't delete and calls my bluff.  I *have* to sue then, right, or else I'm in violation?

[Anonymous]

No, you would only have to sue IF in your letter you state " I will sue if you do not delete "  That is a threat.  If you say:

I have no wish to involve the courts in a litigation process, but I will use all legal remedies at my disposal, should the need arise, to correct this.

This is not a threat just a notice that you know your rights under the law.

[Boldilocks]

OK, drafting the letter now.

I didn't state in my complaint to the FTC or AG that I intended to sue - as I didn't.

But can I state in this letter to EX that complaints were made to the FTC and AG?