Got a response from Cap1 after sending a 623 dispute. What should I do?

[Anonymous]

Hello,

Sorry if this is a little lenghty but I wanted to give some background info. I sent a letter last month to Cap1 asking them to validate the negative tradelines on my report (the lates), but they didn't. They thought I was asking them to validate a debt, the account is paid in full, so that was not in question.

I'm surprised that they don't keep track of the correspondances that they receive and I don't undersand why they are asking me for additional information. I was pretty clear in the letter I sent! I'm pretty sure they are able to acces my credit report since they added a comment on it because of the 1st letter I sent last month. From their response today, it seems like they don't know what I'm talking about.
Should I send them all the information they are requesting? I feel like they should be investigating this, since they already have access to my report anyway, not me providing them with copies of my CR! What should I do? 
Below is the letter I sent last week after the 1st one, and their anwer today (further below):

Again, I am formally requesting that you validate the late notations you have submitted to the three major credit reporting agencies by Capital One for me, [NAME], for account number XXXXXXX.
You are inaccurately and incompletely furnishing information regarding the above-referenced account to the credit reporting agencies in violation of the reporting requirements of the FCRA, Section 623, Responsibilities of Furnishers of Information, and for which you are responsible.

I am in receipt of your correspondence postmarked December 17. You stated that the account is reporting accurately in your opinion. However, it's not. You have failed to provide me with competent evidences that the negative tradelines associated with this account are valid. I do not recall ever being 30, 30, and 60 days late for the year of 2009, as you are currently reporting on my credit report. I am specifically requesting evidentiary documentation that substantiates the information you have furnished to the credit agencies, including the required commencement of delinquency date, as verification of the information you have provided to the Credit Reporting Agencies.

Furthermore, there are discrepancies in the document you have provided me and the actual details of this closed account, and with what you are currently reporting to the credit reporting agencies.

You have noted in your correspondence that you have placed a disagreement code with a resolution of dispute on my credit file. However, the dispute has not being resolved, as you have yet to provide me with proper documentations validating the late notations you are reporting on my credit report.

For your benefit and as a gesture of my goodwill, I have enclosed the FTC's required informational disclosure entitled, Credit Reports: What Information Furnishers need to know which defines and clarifies your responsibilities and potential liability as an information furnisher.

Should you not be able or willing to provide me with the substantiating documentation as verification of the present reporting, please have the late notations deleted from each of the consumer reporting agencies within the next 15 days of you receipt of this tracked letter.

Should you again fail to fulfill your mandated duties and responsibilities, I will have no other recourse but to consider bringing legal action against Capital One for its continued non-compliance and violation of the FCRA, under which is provided an individual cause of action for enforcing its provisions.

Please note that this is the last time I'm asking for an investigation. I expect final resolution of this matter within 15 days and look forward to receiving written confirmation of my request as well as written confirmation of Capital One intended actions. Failure to provide me with the necessary documents, I will be forced to take this matter to small court claims.

Sincerely, 

Cap1' answer today:
" Thanks for contacting us about your credit bureau report. In order for us to research your request, please send us the information listed below by 02/13/2012:
- Any supporting documentation, such as your credit report, showing that we've sent incorrect infromation to the credit reporting agencies
- A copy of this letter, with your full 16 digit account # written in the space provided below
- A copy of the original correspondance you sent to us about your credit report.
- Additional items highlighted below ( full 9 digit account #, the exact nature of your dispute, for payment history disputes, please provide us the months in dispute showing dereogatory reporting)

Please note, we can't take any action on your request until we receive this information. We apologize for any inconvenience this may cause. Once we receive it, we'll get back to you within 30 days. If you have any questions plz give us a call at..."

[pizzadude]

I don't believe that the FCRA requires an OC to "validate" their reporting in the same way that the FDCPA requires debt validation ( DV ).

If a creditor reports you as late on an account then you would need to present evidence of your timely payments to the OC or the CRAs for correction.

[RobertEG]

There appears to be a lot of back-and-forth confusion regarding what is being asked for, and how it is being requested.

First, to avoid any confusion, you need to specifically identify your correspondence to them as a "direct dispute under the provisions of FCRA 623(a)(8)."  The current wording could be interpreted as simply a "request."  You want to clearly invoke the reqirements and response periods under the direct dispute process.

Second, as has been stated, OCs dont verify debt.  They verify the accuracy of what they have reported to the CRAs.

As for their list of items they want, I see nothing improper in any of their requests.

The contents of a notice of direct dispute are outlined in 16 CFR 660.4(d), and require "sufficient information to identify the account or other relationship in dispute, such as the account number,"  the "specific information that the consumer is disputing," and "all supporting documentation or other information reasonably required by the furnisher to substantiate the basis of the dispute. This documentation may include, for example, a copy of the relevant portion of the consumer's report that contains the allegedly inaccaruate information..."

No, providing a copy of your CR is not required, but is clearly identified under the rules as an item that can be requested. I see no impropriety in their asking for it.

Finally, verification by the furnisher imposes no requirement that they provide documentation in proof of their finding.  They are required to report the results to the consumer, not comply with a discovery proceeding.  You can only get that in a court of law.  They conclude an investigation by providing the results to the consumer.  The consumer does not decide that the investigation is not concluded if unsatisfied with the results.

Complete a formal direct dispute before holding them to violations of their investigation requirements.