REPORTING IS WRONG, WRONG, WRONG!

L93065 · 03-31-2007, 11:39 AM

Hello everyone,

Need help determining what the next step is in disputing this account. On March 12, I sent a letter to the OC disputing the tradeline. When I got the green cards back, I disputed the tradelines with Experian and Equifax. I received the green cards back from the CRAs. I have not received updated reports yet.

This morning when I checked the account on True Credit, this is the way the account looked: Notations in red is the orginal information prior to dispute:

Experian
Account No.:
Condition: Closed (Paid)
Balance:
Type: Credit Card
Pay Status: Collection/Chargeoff

Equifax
Account No.:
Condition: Closed (Paid)
Balance:
Type: Unknown - credit extension, review, or collection
Pay Status: Collection/Chargeoff

Experian is reporting CO in March 05

REMARKS

Experian
Past Due:
High Balance:
Terms:
Limit: $100
Payment:
Opened: 04/2000
Reported: 08/28/2001
Responsibility: Individual

Equifax
Past Due:
High Balance: $100-was reported as $320
Terms
Limit
Payment: $0-added after dispute
Opened: 04/2000
Reported: 03/2007
Responsibility: Individual

Remarks:
[TransUnion]
[Experian] Unpaid balance reported as a loss by credit grantor.
[Equifax] Paid charge off
Accounts closed by credit grantor

The thing is that I have a copy of my check in which I paid these people $320.20 on 8/24/01 and I do not owe anything on this account and it should not be charged off. Everything reporting on this account is wrong. What is my next step. Do I wait for the updated reports from CRA before I do anything? When I get the reports, how should I proceed. Dispute with CRA only and demand it be fixed withing xx days or I will seek legal remedy?

Thanks for your help.

roybean · 03-31-2007, 12:43 PM

Have you seen your reports in paper form? You need the hard copies.

L93065 · 03-31-2007, 12:49 PM

No, I haven't received my CR reports from this dispute yet. Hopefully today. I have just been watching it on the monitoring service to see if anything was going on. I was just trying to figure out what my next step would be. I have been dealing with this account since 2004 and its just garbage.

jlynn · 03-31-2007, 01:06 PM

True Credit doesn't post information the same as your "real" report. Wait for the paper copies before you decide your next step.

direred · 03-31-2007, 03:27 PM

I'm suing a data furnisher for exactly this right now. Wish me luck (it's my last major baddie).

The codes I'm referring to are from the Metro2 manual (called "Credit Reporting Resource Guide") published by the Consumer Data Industry Association, an association for credit reporting agencies and credit reporting software manufacturers.

Here's what's supposed to happen. If you have a charge-off, it's an account status of 97 -- chargeoff.

When it's paid, it's supposed to be changed to an account status of 64: Account paid in full, was a charge-off. There is a specific example of this in the manual!

Instead, it looks like they reported it as an account status of 13: Paid or closed. Status code of 13 requires a payment history profile, which is the last status of the payments. They picked L for charge-off.

So, you're right -- it is being reported wrong. The CRA should refuse to accept records like that, but they don't. However, in this case, I'd send a written dispute CMRRR to the CRA as well as a copy of your dispute to the data furnisher once you get the green card back from the CRA (this for arcane FCRA reasons).

L93065 · 03-31-2007, 03:37 PM

Thanks for the information. I will wait for my hard copies sending my CRA letter again. Just checked updated Experian CR online and they still show the account as being in dispute.

direred · 03-31-2007, 03:41 PM

Quote:

Originally Posted by L93065

Thanks for the information. I will wait for my hard copies sending my CRA letter again. Just checked updated Experian CR online and they still show the account as being in dispute.

Well, at least your account shows that it's in dispute. Mine does not. (Another point of the lawsuit.)