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Incorrect reporting

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Incorrect reporting

In 2006 my car was repo'd and sold at a car auction.  I refi'd my home to pay the deficient amount.  when speaking with the collection company, they offered me a settlement and promised to remove the item from my cr.  Here;s the problem...they removed their entry, but the original creditor bmw financia l did not removed their entry.  I didn't however get any of this in writing.  I collector keep promising to send the letter but never did.  I am currently in a heated battle with the original creditor because they contracted with this dishonest company to collect the debt.  I feel that they are ultimately responsible for their actions.
 
To make matters worst, the original creditor has been reporting the trade account incorectly for the past 2 years.  It's listed as a bad debt collection with a balance of 37,000+ dollars.  Appearing as if I never paid them.  I paid in may 2006 and they a recording a date of major delinq of 9/2007.  This is almost a 1 1/2 after payment was rendered. 
 
What can I do about this?  They are rude and refuse to work with me.  I really need to get this items off my report.  I have already filed a compliant with the FTC, and State Attorney General. 
 
Help!
Message 1 of 4
3 REPLIES 3
Moderator Emeritus

Re: Incorrect reporting



tiff wrote:
In 2006 my car was repo'd and sold at a car auction.  I refi'd my home to pay the deficient amount.  when speaking with the collection company, they offered me a settlement and promised to remove the item from my cr.  Here;s the problem...they removed their entry, but the original creditor bmw financia l did not removed their entry.  I didn't however get any of this in writing.  I collector keep promising to send the letter but never did.  I am currently in a heated battle with the original creditor because they contracted with this dishonest company to collect the debt.  I feel that they are ultimately responsible for their actions.
 
The collection agency did as promised, they removed their entry. They can not agree to remove, nor can they remove, another creditor's entry.  BMW is under no obligation to remove the TL, they do however have to report correctly.
 
To make matters worst, the original creditor has been reporting the trade account incorectly for the past 2 years.  It's listed as a bad debt collection with a balance of 37,000+ dollars.  Appearing as if I never paid them.  I paid in may 2006 and they a recording a date of major delinq of 9/2007.  This is almost a 1 1/2 after payment was rendered. 
 
What can I do about this?  They are rude and refuse to work with me.  I really need to get this items off my report.  I have already filed a compliant with the FTC, and State Attorney General. 
 
Help!



You need to dispute with the CRA as "incorrect balance" and "incorrect reporting of lates". State that it was paid on XXXXXXX, so if reporting late all the months after you paid, those lates need to be removed.
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Message 2 of 4
Regular Contributor

Re: Incorrect reporting

If they update my account, will it sink my credit score?
Message 3 of 4
Moderator Emeritus

Re: Incorrect reporting



tiff wrote:
If they update my account, will it sink my credit score?


Sometimes it will cause a score drop, especially if you have no recent collections.
 
Will it? I can't say for sure, each case is unique.
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Message 4 of 4
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