from Zero Bal to full Balance

[Anonymous]

it was exactly what i had debated  with a subscriber on another website and i would have to say until i research/find it exactly the right wordings to my claim i will put this debate to rest.

Creditors Report to CRA; CRA display the report received from Creditor every month. The Holder of Credit Report (HCR: ie.Me) views and finds inaccuracies? HCR reports discrepancy to OC or CRA.

CRA reports dispute received to Creditor. cRA informs Creditor what dispute is about? CRA gets feedback from OC 

so when OC reported zero balance in March, was that inaccurate? What was the zero balance reporting to CRA in March about? upon HCR viewing his report take any actions about it. Did HCR go apply for credit anywhere? is that something the HCR should not have done? the last i check we are free to do things within the law. i went ahead and applied knowing my balance on Exxon was zero. Now is everyone claiming i shouldn't have done that. I should have known better. Not take a HP for it. 

What if they never came to know about it until i actually reported to them? would that change anything?

If inaccurate what HCR is to do? option A: Dispute or Call OC to find out if the account is sold/Transfered?

Can someone imagine T-Mobile making a $10 bill to $1,000,000 by adding zeros. Human Error Huh? brought it to their attention? T-Mobile required the subscriber to pay the balance owed? error huh....ya...yaaa..yaaaaaaaaa..

But when it was actually a benefit to the HCR by having a zero balance but he disputed/reported to CRA's anyways, guess what happens? injustice? hmmmm....HCR should have known better huh. 

and my parents taught me EVERYTHING IS FAIR in LOVE & WAR ....go figure.

[2b2rich]

You don't know that it was inaccurate (the zero balance).

Information furnishers (CO or CA) do not have to report everything about an account, they only have to be sure that what they are reporting is accurate.

For example, Exxon Mobile might have just written off that debt and the zero balance would have been accurate.  Adding a sold or transferred status in this case would have been inaccurate.

I will say this much, any changes in accounts that are being reported, especially a balance, takes a concsious effort on someone's part to change it in their system before uploading the tapes (or how ever EM reports each month) to the bureaus.   I would be concerned if I were you that they are about to sell it to some JDB who will sue you for that amount if it's close to the SOL.

I would also be concerned if I were you, that you have just brought to their attention that you are actively monitoring your credit reports which can only mean one thing.  You need them to be as pretty as you can get them right now and so now they know they have some leverage to get you to pay that.

I could be off target here, but it's not at all uncommon.

[Anonymous]

All this you list here happens only upon a dispute filed by me. If they get a dispute from me and if it has inaccuracies it can be corrected .Agreed. 

I m talking about if and before a dispute is in the hands of the CRA or OC from me.

Was reporting zero balance accurate? Was that Human Error?

I have credit report showing zero balance when reported to CRA's in March. I have Credit Report in May showing balance of $1661.

So basically, Exxon/CRA is saying to me

thankyou very much for bringing to our attention the discrepancy in reporting in March 2015. We have now corrected the requested information. Your updated report is now available to you for your perusal. 

Is that it?

thanks everyone who is diligently looking into my dilemma here.

[Anonymous]

---

@2b2rich wrote:

You don't know that it was inaccurate (the zero balance).

Information furnishers (CO or CA) do not have to report everything about an account, they only have to be sure that what they are reporting is accurate.

For example, Exxon Mobile might have just written off that debt and the zero balance would have been accurate.  Adding a sold or transferred status in this case would have been inaccurate.

I will say this much, any changes in accounts that are being reported, especially a balance, takes a concsious effort on someone's part to change it in their system before uploading the tapes (or how ever EM reports each month) to the bureaus.   I would be concerned if I were you that they are about to sell it to some JDB who will sue you for that amount if it's close to the SOL.

I would also be concerned if I were you, that you have just brought to their attention that you are actively monitoring your credit reports which can only mean one thing.  You need them to be as pretty as you can get them right now and so now they know they have some leverage to get you to pay that.

I could be off target here, but it's not at all uncommon.

---

Oh, you are SOOOO on the money with that. I saw some videos on a site where Midland Executives talk about the statistics of debtor lawsuits and how the odds of being sued go up drastically when you DV/Dispute valid debts - it quite literally puts you "in their sights".

[Anonymous]

Youit say

You don't know that it was inaccurate (the zero balance).

Hmmmmm. Prior to their usual report date the balance was $1661; all of a sudden its zero. 

Need i say more

 the last time Midland Funding/ Capital One tried bringing a lawsuit against me for collection of debt, i had them owe me $1k for FDCPA violations. Midland removed the TL for good. Capital One kept the TL for the full 7 and half years but did not win against me.

I say bring it on to CIti.

Another FYI about CITI

I had Shell/Citi with balance of $772 chargeoff. in four years they haven't sued but been more than willin to sell/transfer the shell account and remove the Shell TL from all CRA's.

I can only report what is verifiable and accurately factual. 

This credit repair is always evolving and you learn new things everyday.

K cera cera what will be will be.

[Anonymous]

I'm so confused as to what your argument is here. You are insisting that they have to remove the entire tradeline if there was a mistake reported? Even if the legal statute clearly says that they have an option of updating by correcting the erroneous information??

[Anonymous]

---

@Anonymous wrote:

You say

You don't know that it was inaccurate (the zero balance).

Hmmmmm. Prior to their usual report date the balance was $1661; all of a sudden its zero. 

Need i say more

---

What do you think happens when they either sell a debt or decide to forgive the debt via 1099C? The answer is "all of a sudden its zero"

It would not be correct to assume inaccuracy based solely on such a change.

[Anonymous]

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@Anonymous wrote:

---

What do you think happens when they either sell a debt or decide to forgive the debt via 1099C? The answer is "all of a sudden its zero"

It would not be correct to assume inaccuracy based solely on such a change.

---

NormanFH: This is a losing argument. Like convincing someone the sky is blue that actually *believes*  the color is red.

You cited the specific portions and they do not agree with it 

[Anonymous]

You are insisting that they have to remove the entire tradeline if there was a mistake reported If i as Creditor have 15 days from the day of request to dispute to actually look into the discrepancy reported and correct i could do this to many a customers of Exxon and go un-punished. 

amEN sPOIL? INDEED. HWith Discretion on Citi's Side. Citi can decide no i cannot do that and everything reported is accurate. We have not made any mistakes here.

or

Hey HCR, we know but we are not exactly going to admit to it  that we made a mistake but i will take that into consideration and remove/delete it from the CRA's. 

T-Mobile has Midland funding removing TL's for just reporting Cramming happened to me. Lots of success i have seen here with people bringing cramming issue and having TL removed. 

Southwestern Bell telephone company added just .02 cents to the tax portion of every customers bill in the 1990's. They thought nobody ever will notice it.

two cents to a million customers would be more than chump change to a publicly traded company & shareholders. Sw Bell never admitted wrong doing but refunded everyone.

[Anonymous]

Norman

Listen to what  Myckname is saying? You never stop learning in life

BTW Norman what parts of below is not understandable. Thanks very much for providing that

§ 623. Responsibilities of furnishers of information to consumer
reporting agencies [15 U.S.C. § 1681s-2]
  (a) Duty of Furnishers of Information to Provide Accurate Information.

whether its upon dispute or before at every stage a furnisher is required by law to provide only accurate information.

If upon reporting you find inaccuracies, you are to dispute it.

Yes, then it can be corrected/updated or removed if no response from furnisher.

Can you imagine applying for a mortgage between March & may and in march based on zero balance the Loan Officer says you dont have to worry about it since its zero balance.

And when he comes back in May and looks at the report, now, he says o you have to pay it off before a mortgage loan can be issued.

GEEEZZZZZZZZZZZZZZZZZZZZZZZZZZZZ !!!!!!! sorry for inaccurate reporting. we have now corrected it.