How can I dispute this account?

[Anonymous]

Hello All

I have a lease deficiency balance from Toyota Financial back in 2016. The lease balance was not paid off upon return of the vehicle and ended up being auctioned off according to TFS.

Now my question is. I returned the car in February 2016, the same month for which my last payment was on the account. They reported payments on the car up until Novemeber 2016 and on December 2016 it went straight to a CO status.

I requested multiple times from Toyota for a full payment history on the account, how the deficiency balance on the account was calculated and also a copy of my original lease contract. Now i have asked them 5 times over the past month to send it over and recieved nothing from them.

I disputed this account to all 3 CRA's but they just come back within 14 days saying its accurate/verified. I need to know if I have a basis for dispute over the fact that first they are inacurately reporting the DOFD ( Last payment in February, went straight to a CO in Decmber). And secondly if they are not providing me the consumer with a history of payments on the account, how are they verifying this information with the CRAs so quick?

Thnak you

[RobertEG]

While you can always request account history/information/documents from a creditor, the FCRA does not compel the production of such documents.  The FCRA regulates credit reporting, not the right to access to internal business records.

That also applies to disputes under the FCRA.

A dispute requires the creditor to conduct a reasonable investigation as to the asserted inaccuracy, and provide a finding back to the CRA of either verificaiton or correction.  They are not required to document or "prove" the accuracy.

Once you have disputed and the accuracy has been verified, then FCRA 623(c) pemits the consumer to file a civil action and obtain a full evidentiary review by the courts.  If you file a civil action, you can then compel their disclosure of such documentation/evidence via the discovery process, provided the court agrees the requested information is relevant.

If you dont wish to file a civil action, you can send a complaint to either th CFPB (or a BBB), but those admin processes dont provide the agency the right to compel the disclosure of business information unless they choose to initiate civil action on your behalf.

The CFPB rarely intitiates civil action on behalf of individual consumer complaints.