cancel
Showing results for 
Search instead for 
Did you mean: 

Inaccurate, but verified as "accurate".

tag
Anonymous
Not applicable

Inaccurate, but verified as "accurate".

I am rebuilding with the goal of improving my score, while having a complete file that would not trigger unnecessary questions 

when there is a manual review of my file.  

 

I have been unsuccessful with a few "fact-based" disputes. I am wondering if there is another strategy I could try or, is this just policy with these CRAs.  Sent dispute letters (non-template) to Equifax and Experian CMRR with copy of my credit report (highlighting areas I am disputing).  I asked them to update my credit report or remove the items. The disputes cover the following:

 

1. AMEX - paid charge off;  dispute reason:  missing payment history.  Five year account history, only one month reporting.

2. AMEX - paid charge off;  dispute reason:  missing credit limit, entire payment history

3. BestBuy - paid charge off: dispute reason: incorrect payment history.  Three year account history, reporting one late payment 2 years after account was closed, paid.

 

I have read on these boards that there is a legal? requirement for CRAs to report information on our reports accurately.  If this is true, why are these bureaus responding to my disputes with "verified"?  How can an account with literally its entire payment history come back verified as accurate, when it is inaccurate?

 

Lastly, can someone explain the reasoning behind having a tradeline reporting a late payment - one payment for one month, 2 years after the account was closed and paid; it was a charge off.  Is my score being negatively effected by this?

 

Any help would be appreciated.  And thanks to all of you for your shared experiences and guidance.

Message 1 of 4
3 REPLIES 3
Acc-Risk
Contributor

Re: Inaccurate, but verified as "accurate".

I think you may be misunderstanding a few things here. Yes, you are correct the reporting agencies must accurately report what is provided to them. So in the case of American Express, they have provided them with the information that is reflected on your report. You asked them to verify, then American Express confirmed. Your issue is with American Express, not the CRAs.

 

If your goal is to remove these entries from your three reports then you're going it in the wrong way. These are completely legitimate entries and the CRAs most certainly will not remove these on a "technicality." You have to work with the OCs to get the data reflected on your reports listed accurately, then negotiate with them to agree to remove these entries possibly due to the fact that they are paid off.

 

The CRAs are doing exactly what they should, reporting the information provided to them.

Message 2 of 4
Anonymous
Not applicable

Re: Inaccurate, but verified as "accurate".

I see.  thanks so much for clarifying this.

Message 3 of 4
Acc-Risk
Contributor

Re: Inaccurate, but verified as "accurate".

Wanted to mention also, I have tons of accounts with missing data. My auto loans were the worst not reporting for months at a time so I have huge gaps in my payment history. Capital One is another that just won't report for months at a time. Annoying when you're waiting for that big payoff to show up on reports and it doesn't for ages.

Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.