Thread: Experian Is Clueless

I disputed for wife...two accounts that said "ACCOUNT CLOSED BY CREDIT GRANTOR"
(PAID/NEVER LATE)<-------important clue.

CAME BACK VERIFIED????????????
Told them to report as "ACCOUNT CLOSED BY CONSUMER"

How can they VERIFY that the credit granter closed it?


HERE IS WERE I HAVE BEEN LAUGHED AT...I WILL PULL THE COPY OF THE REQUEST TO CLOSE THE ACCOUNT(S) WITH THE CREDIT CARD ATTACHED...AND SEND THEM A COPY OF MY COPY...OR THEY WILL NOT CARE BECAUSE THEY NEVER VERIFIED IT AND THEY DON'T CARE???????????

Sorry to hear this as I am disputing the same thing on one account via Creditexpert.

BTW - Nextcard tried to reach me by telphone today to talk about my "question". Different person than the responder to my written correspondence. I just paid the account down to zero. I'll speak to him Monday. He probably doesn't realize my "question" has already been answered as in - NO reduction in apr. and NO increase in credit limit.

Jim

GEORGE, I have disputed a utility bill chargeoff that is listed as a 10 month installment loan on Experian 4 times now, and it comes back verified each time. I would say they don't have a clue......

Originally posted by GEORGE
I disputed for wife...two accounts that said "ACCOUNT CLOSED BY CREDIT GRANTOR"
(PAID/NEVER LATE)<-------important clue.

CAME BACK VERIFIED????????????
Told them to report as "ACCOUNT CLOSED BY CONSUMER"

How can they VERIFY that the credit granter closed it?

George:
I can understand your frustration, however, this is a common mistake mostly initiated by the creditor. It’s not necessarily that Experián doesn’t have a clue, but rather the creditor rep who inputted the event incorrectly. I’ll explain…

Most (but certainly not all) credit card grantors are using Magic, an account management system that (IMHO) has become somewhat antiquated. One possibility as to what happened to you concerns Magic, in that the batch protocols for canceled accounts are right next to each other. Meaning, in simplified terms, buttons for both “CONSUMER” and “CREDITOR” cancels are right by each other. All a busy rep need do is inadvertently click the wrong button and, you guessed it, an incorrect entry is fed to the batch file; forwarded to CRAs.

Consider also that Experián requires a minimum of 1,000 events per batch-file. Creditors will seldom respond expressly to a single dispute (submitted through a CRA), opting for the “systems” to verify similar issues as yours. (It’s a matter of being more time-efficient.) For this reason you’re not likely to get any real results by disputing through traditional means, so I suggest another route.

Gather your supporting evidence of the matter in a coherent order, and make appropriate copies. Compose a firm but polite letter to the reporting creditor, making ample reference to your supporting documents. Allow the creditor about 30 days to correct the issue, and caution them that purposefully reporting false information is a violation of FCRA (but don’t be too aggressive about alleged FCRA violations, just yet).

If the creditor doesn’t respond and/or correct the issue, you may want to consider pulling a LizardKing on either CRA and/or creditor.