Questions about disputing

[Anonymous]

I have some lates from 2004 from a Roaman's card (WFNNB) that are due to fall off around September 2011. I decided to send a GW letter to the CEO of Alliance Data Systems (WFNNB is the bank subsidiary) asking if they would consider removing them.  I just received a very nice letter expressing regret for not being able to honor my request because my account is no longer in their database due to inactivity. They also encouraged me to file disputes with the CRAs.

I've read about disputing and understand the basic idea but I'm not really sure how the process works, or what the possible outcomes would be. Would anyone be able to shed any light on the subject? Also, is it really worth it since these should fall off next year? I don't plan on making any major purchases before that time but I'm working to clean up my credit and would just really like to see these lates gone. What exactly would I say that I'm disputing? I wouldn't be comfortable saying the account was never mine because it was. Thanks in advance to any who answer.

[MarineVietVet]

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@Anonymous wrote:

I have some lates from 2004 from a Roaman's card (WFNNB) that are due to fall off around September 2011. I decided to send a GW letter to the CEO of Alliance Data Systems (WFNNB is the bank subsidiary) asking if they would consider removing them.  I just received a very nice letter expressing regret for not being able to honor my request because my account is no longer in their database due to inactivity. They also encouraged me to file disputes with the CRAs.

I've read about disputing and understand the basic idea but I'm not really sure how the process works, or what the possible outcomes would be. Would anyone be able to shed any light on the subject? Also, is it really worth it since these should fall off next year? I don't plan on making any major purchases before that time but I'm working to clean up my credit and would just really like to see these lates gone. What exactly would I say that I'm disputing? I wouldn't be comfortable saying the account was never mine because it was. Thanks in advance to any who answer.

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That's also my question. You should only dispute inaccurate information. If the account and the late payments are yours there is no basis for dispute.

IMO

[Anonymous]

Thanks MarineVietVet. You confirmed what I was already thinking. I did think it odd they would suggest that I dispute when I was confirming my account in my GW letter. I'm a little bummed they can't delete, but at least they were willing to look into it. They could have tossed just my letter or mailed me back a big fat NO WAY! At least these will fall off in another 1.5 years. My credit report will just wear its Scarlet Letter until then; I'll just accept it as a lesson learned the hard way.

[Anonymous]

If the only thing that was making this a negative account is the lates, after the last late comes off it will become a positive account.

Then it will stay for 10 years in good standing from the date it was closed.