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Update - How long to wait for a response?

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ucdcrew
Contributor

Update - How long to wait for a response?

I had an auto loan with a credit union that is reporting 2 90+ day lates 6 months after the loan was paid off.  I'm rather irritated with this credit union at this point.  I paid off this vehicle in February of 2012.  They reported a 30 late in March 2012, a 60 late in April 2012, and a 90 day late every month from May 2012 to Nov 2013.  I pulled my credit reports in March 2017 for a mortgage, and saw those lates.  I disputed through the CRA - they came back verified (how??).  Called the bank, they agreed that it was a reporting error and they removed them.  I didn't look very closely - because they removed all but July 2012 and August 2012.  I reported that to the bank in June of 2017.  They didn't fix it.  I called them again last week, they told me I had to send an email to their credit department.  Which I did.  How long do I wait before going to the next step?  What is the next step?  Try to dispute with the CRA again?

Message 1 of 12
11 REPLIES 11
Anonymous
Not applicable

Re: How long to wait for a response?

I’d give them a week or so.
If they haven’t responded, call back and confirm that they got it and ask when they’ll report it accurate. I mean, I’d rather go through them, if theyre quick to respond than do a dispute. Which could take a while.
Message 2 of 12
capricornchanges
Regular Contributor

Re: How long to wait for a response?

If it is local, knowing myself the way I do, I would take myself in there and sit my behind right in front of them until I see them do it then I’d make them write a letter that I would fax and snail mail to all CRA’s, but I’m petty that way lol


1st goal: 700 across the board
Starting Scores 01/19/2018
Equifax : 579
Transunion: 585
Experian: 602

Current 07/06/2018
Equifax:662
Transunion: 645
Experian: 683








Message 3 of 12
ucdcrew
Contributor

Re: How long to wait for a response?

Update to this - I called them, was provided an email address (the same email address as the first time) to send my stuff to.  I sent the requested email on the 15th (for the second time).  Then I sent a follow up email on the 19th just asking for an update - or a contact.  Still crickets.  The 23rd will be 2 weeks with no change in reporting, and no information other than "I'll forward it to the correct person." 

I have a couple options on next move - I'm not sure which direction to go as its not a goodwill request.  It is a legitimate reporting error.

 

1.  Dispute with the CRA.  They'll verify incorrect information though, as they've done it before (they verified the 23 lates after payoff).  

2.  BBB dispute.  They are BBB accredited and have an A+ rating.  

3. Snail mail CEO.  I have a name and a corporate address - i cannot find his email (although i might be able to guess it).

 

Any thoughts?

Message 4 of 12
RobertEG
Legendary Contributor

Re: How long to wait for a response?

When yu dispute via a CRA, the CRA is requried to forward a copy of the dispute to the creditor for their investigation, and the creditor is required to respond back to the CRA.  If the creditor verifies, the CRA normally has no other basis other than to also verify in their reinvestiation determination.

 

If the creditor has admitted error,then I would file a new dispute including reference to that acknowledgment as the new information requried to support a new dispute.  If the creditor then verifies back to the CRA, that is in direct contradiction to their prior admission.

You can then bring civil action against them for lack of a reasonable investigation, and seek damages based on either negligent or willful vioaltion of the reasonable investigation requirment of the FCRA.

 

You could also supplement your civil action with an assertion of violation of FCRA 623(a)(2), which mandates that once a furnisher becomes aware that reporting information is inaccurate, they have the obligation to promptly report a correction to the CRA.

They have that legal burden, and have improperly shifted the burden to you to file an unnecessary dispute in order for force their correction.

With admission of the inaccuracy, they have the burdent to promptly initiate correction on their own.

 

 

 

Message 5 of 12
ucdcrew
Contributor

Re: How long to wait for a response?

Well, I got their attention - I copied and pasted a BBB complaint into an email and emailed it to the front line CSR folks.  They got it to the 'collections department' - and I was assured it was being worked on immediately - so here we go again.  The request was to edit the status on Equifax to paid, was a repossession, and get rid of the 2 late payments from 2012 on Experian.  None of this is a GW attempt at anything - I have no problem with the account showing what actually transpired.  So far, I've had an alert from EX that they changed the status from 'paid, was a repossession' to 'The Creditor Is Taking Possession Of Property Pledged As Collateral On A Defaulted Loan.'  Nothing from Equifax so far.  I've requested resolution in writing.  I'm fairly certain they have no idea what is going on, or how to code this correctly to furnish the correct information to the CRA. Or possibly that Equifax and Experian are not the same thing......Is the program super complicated?

Message 6 of 12
ucdcrew
Contributor

Re: How long to wait for a response?

I'm afraid to bring civil action against them, mostly because I can't fathom that they're doing this on purpose.  There's no benefit to them to report it incorrectly.  That and I don't want to have to pay a lawyer to get it fixed - at that point it would almost be worth letting the tradeline expire.  I just have a hole between 2009 and 2016 so my AAoA is going to go from 56 months to like 3 months.  

Message 7 of 12
Anonymous
Not applicable

Re: How long to wait for a response?

I would allow 30 to 45 to see if any changes are made, to my suprise, something I've disputed multiple times and contacted a creditor about was randomly removed when I logged in this morning.  I hope it works out on your end soon.

Message 8 of 12
ucdcrew
Contributor

Update: Better Late than Never - How long to wait for a response?

So I got a 42 point bump on Transunion, and a 29 point bump on Equifax with a full deletion of the account.  This just happened by magic - I'm guessing they couldn't figure it out within some 90 day timeframe and just deleted the account.  I'm happy to see it gone.  Still waiting on a notification from Experian. 

Message 9 of 12
RobertEG
Legendary Contributor

Re: How long to wait for a response?

There are two separate standards for civil damages pertaining to violation of the FCRA.

First is for willful noncompliance, which as set forth in FCRA 616 permits civil damages that include both actual and punitive damages, and award of court/attorney fees.

 

Second is for negligent noncompliance, which does not require that the violation be shown to be willful, only that they are negligent in their actions.  See FCRA 617.

The lower standard of negligence as opposed to willful noncompliance does not include liabililty for punitive damages, and does not require that you show willful intent not to correct once aware of the errors.

Message 10 of 12
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