Equifax Validating Duplicate Entry

[Shadeestill]

In July 2013, I purchased a used car which was financed through Lobel Financial. 13 months later, that vehicle was traded in on the purchase of a brand-new car. The account was paid in full by the deal and on time. I never had a late payment on this account, which is reflected on all 3 of my CB reports.

Equifax is showing a duplicate entry with completely different information. When I pulled my annual credit reports in 2015 I disputed the duplicate. The result was them placing the dispute on the CORRECT account and saying everything was valid. I didn’t know then what I know now (thanks to you guys), so I gave up.

The information contained in the duplicate is mostly the same as the correct account- the account open and close dates are correct, the monthly payment is correct, and they both show paid. However, the duplicate is showing something that Equifax considers negative. However, the last two digits of the account number are different.

In July, I pulled my annual reports again. Duplicate entry still on Equifax. I dispute it again. I attached the two pages from my credit reports showing the entries. The valid entry is numbered 2.17 and the duplicate with inaccurate information is numbered 2.8. I marked each page to document which was which. I clearly stated that I have NEVER had two loans with Lobel and this account wasn’t mine. I enclosed copies of the account from my (original not third party) Experian and Trans Union reports.

I just received the response that the entry is valid.

I’m at my wits end with this. My FICO Auto 8 is 45 points lower on EQ and I’m sure it is because of this. I have 3 other auto loans, showing on all reports. One is PIF (Toyota Financial) and two are current (Honda Financial and Beneficial State Bank) with no lates.

What is my next step? Do I try going through Lobel? Do I sue Equifax? CFPB? I’m at a loss.

I’d appreciate any advice.

[AndySoCal]

I would persue the Lobel Finance option first.

[Shadeestill]

Does disputing with them have any chance of helping considering that Equifax is supposedly already verifying the information with them? Would they even have any documentation considering my loan was paid off more than 4 years ago?

I'm also concerned about the correct TL being deleted. It is my second oldest account after 2 of my student loans. A deletion might have a serious negative effect on my score.

[SweetCreditObsession]

CFPB and if that doesn't work, FCRA attorney. Best wishes.

[SweetCreditObsession]

Yes ask lender to send you documents confirming all on time payments.

[pipeguy]

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@Shadeestill wrote:

Does disputing with them have any chance of helping considering that Equifax is supposedly already verifying the information with them? Would they even have any documentation considering my loan was paid off more than 4 years ago?

I'm also concerned about the correct TL being deleted. It is my second oldest account after 2 of my student loans. A deletion might have a serious negative effect on my score.

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Disputes are generally handled by an automated system (Google e-Oscar) and they are generally confirmed as valid many times having never been actually looked at by a person - the system sends an inquiry asking "is what you sent us correct?" and the lender/granter/JDB replies "yes, otherwise I wouldn't have sent it". Congress has taken a few small steps to improve this process and the CFBP has also looked at it, but given the volume of disputes is in the millions, it's still mostly automated which drives many of us crazy. 

@Anonymous, @RobertEG will chime in as far as proper legal recourse.  

[RobertEG]

Review of an administrative verification of accuracy of disputed information is via civil action, with the basis being that the furnisher did not conduct a reasonable investigation of the disputed information once it was referred to them by the CRA.

A consumer cannot bring their own civil action directly based on inaccurate reporting to a CRA.

FCRA 623(c) requires that the consumer must first file a dispute with the CRA, and if the accuracy is verified, the consumer than obtains the legal ability to then bring civil action contesting the reasonableness of the investigation of the disputed information by the furnisher, as opposed to bringing civil action based on the initial reporting of inaccurate information per se.

Thus, once you have received a notice of results of reinvestigation from the CRA that verifies the accuracy of disputed information, you can bring civil action against the furnisher under FCRA 623(c) contesting the reasonableness of their investigation, and thus obtain a binding review by the courts.

[Shadeestill]

Thanks everyone. I was really hoping it was going to be easier than this, but when is it ever. 

I'm going to do some research and see if this is something I can do in small claims court. Maybe just filing will prompt them to deal with it.

[Anonymous]

You could always send a letter directly to the creditor. They will have a certain amount of time to respond. If that doesn't work, a complaint with the CFPB against the creditor.
If you end up going to court over this, they'll probably want to know you did everything possible to resolve this. I would take advantage of those two options first if it were me.
Good luck and hope this can be removed soon.