Question about asking for verification of late payments

[Anonymous]

Newbie here. Trying to repair my long-term boyfriend's credit as well as my own. 

We are currently monitoring via CreditKarma and noticed on boyfriend's account, TransUnion and Equifax report six 30-day late payments on a leased vehicle we had from 2007-2010.

I was wondering if we ask to verify the late payments (which we believe not to be true), and Chrysler is unable to do so, do the credit bureaus just flip the 30-day late payments to OKs? Or will they delete the entire leased vehicle account from the history? 

I don't think we want to lose the leasing history on the report just yet, so don't want them to investigate if it might make the whole trade line disappear. Thanks in advance!

[gdale6]

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@Anonymous wrote:

Newbie here. Trying to repair my long-term boyfriend's credit as well as my own. 

We are currently monitoring via CreditKarma and noticed on boyfriend's account, TransUnion and Equifax report six 30-day late payments on a leased vehicle we had from 2007-2010.

I was wondering if we ask to verify the late payments (which we believe not to be true), and Chrysler is unable to do so, do the credit bureaus just flip the 30-day late payments to OKs? Or will they delete the entire leased vehicle account from the history? 

I don't think we want to lose the leasing history on the report just yet, so don't want them to investigate if it might make the whole trade line disappear. Thanks in advance!

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Closed TLs this old are more apt to disappear if disputed. 30 day lates are minor derogs that tend to affect Fico for the first 2 years post late. Welcome to My Fico

[CH-7-Mission-Accomplished]

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@Anonymous wrote:

Newbie here. Trying to repair my long-term boyfriend's credit as well as my own. 

We are currently monitoring via CreditKarma and noticed on boyfriend's account, TransUnion and Equifax report six 30-day late payments on a leased vehicle we had from 2007-2010.

I was wondering if we ask to verify the late payments (which we believe not to be true), and Chrysler is unable to do so, do the credit bureaus just flip the 30-day late payments to OKs? Or will they delete the entire leased vehicle account from the history? 

I don't think we want to lose the leasing history on the report just yet, so don't want them to investigate if it might make the whole trade line disappear. Thanks in advance!

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If you dispute with the CRA's and they are unable to get a response, they will likely delete the account.  It would be better to send a goodwill letter to the company and ask them to remove the lates.  

Each late payment will roll off when it becomes seven years old, so these lates will be vanishing soon on their own.  And you can always ask for early exclusion starting six months prior to that 7 year date (for each late payment).

[RobertEG]

In order to file a dispute under the FCRA, you must assert an actual inaccuracy, and provide sufficient argument or documenttation to permit investigation of whethr or not it was inaccurate.

Simply asking for verification of reported info is not a dispute.

Assuming you do assert and provide some support for the asserted inaccuracy, the CRA wilol refer to the creditor, who will investigate and respond back to the CRA.

If they conclude that the reporting is accurate, they proivde their verification of accuracy.  That verification need not be accompanaied by supporting documentation or proofs.

Thus, you wont get documentary evidence.

As an aside, the reporting of multiple 30-lates is often done within a string of delinqeucnies, where the later delinquencies could have been reported at progressively higher levels.  Disputing can often lead to the creditor updating their reporting by increasing the subsequent levels of delinquency.

Thus, disputes can sometimes result in making matters worse........

[Anonymous]

Thanks everyone! Very helpful information into understanding some of how the scoring works. I was planning to go to our old bank and request copies of our bank statements and canceled checks to verify on our end the dates of payment.

The reason why we believe the string of 30-day lates is inaccurate is because we paid the car lease on the same date every month-right around when we got paid. So, it doesn't make sense that there were months where the bill was paid on time and other months where it was late. We suspect that maybe the check payments were applied to our car lease account later during the "late" payments than when it was on time?

However, if the late payments most likely affect the score within the first 2 years, then I don't think we'll bother going through the trouble. On to the next troublesome item!