I had an equity line of credit with PNC bank a few years ago which was paid off and the account closed when I refinanced the house. Apparently, I noticed on my Equifax report that this account had the statement "ADDITIONAL INFORMATION : Collection Account". When the line of credit was active, I never missed a payment, nor was I late at any time. Furthermore, I applied and got another line of credit with PNC about a year after the first one was closed. A letter to PNC has not been answered requesting them to check this matter and a request for verification to Equifax came back saying that everything was correct as reported. I would appreciate any help on what my next step should be. Thanks. - bta3
Your next step would be to dispute it directly with PNC and again dispute it with the CRA. If it comes back "verified" a second time and you never were late, send an ITS letter to PNC for reporting false information. Be prepared to sue if PNC ignores the ITS letter.
Thanks for the advice. I shall send out the letters this weekend. On a side note, does a comment like what I have in my credit report have an effect on the scores? Or does it make any difference in some other fashion?
Any notations of the account being a collection account is negative, even a negative comment makes the trade line negative.
