Hello all, My name is Kyle. I am a 22-year old now-successful self-employed consultant making a good amount of money and very low debt. But it wasn't always that way. When I was younger, I made a ton of stupid mistakes. I ran up debt and didn't pay my bills. Surprise, surprise, now CA's are after me. And stupid me, I paid them all off, almost all of them at full value. Sigh. I read CreditFactors and I have disputed and I have done a ton of things - my credit report is still dismal. Here's my problem: I have a ton of paid chargeoffs and collections that I absolutely must get taken off my accounts. One of the accounts has sent me original forms and validated the debt, and I will be calling them tomorrow in hopes of negotiating a goodwill removal, seeing as how I have no other recourse in that situation. What is my best plan to get these removed? Fax them the nutcase letter? What happens if they do not respond? Please, I have searched high and low and I have paid for tons of services, and I am still in the low 600's (and 500's for Experian). I nearly want to give up, but I really need someone to give me concise and clear directions on how to remove these derogs utilizing validation, disputing, and various letters. My plan of attack was going to be: 1) Call the creditors and ask for deletion, seeing as how I have paid them in full. 2) If they do not, fax them the nutcase letter. 3) Wait for a response for 30 days. If a response does not come, send them a followup (is this right?). 4) Dispute the tradelines. I don't understand what "violations" are, since I have paid collection accounts - I was of the understanding that these do not apply to me anymore? Please, there is so much confusing stuff out there, and I just cannot understand it despite being a pretty intelligent and resourceful guy. I really need help, and I hope you can all help me as well. I am going to keep a strict log to coalesce the data in one location for future reference. If you want me to post my credit reports with personal data taken out, I can do that too. I hope people can help me with a detailed plan of attack. Thank you, Kyle
After reading this: http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&threadid=10860 I believe that possibly the best plan of attack is now: 1) File validation letters with collection agencies. 2) Dispute with CRA's (stating "not mine"). 3) File with original creditors and ask for documented proof. When OC's do not respond with documented proof, then file intent to sue with the 1997 decision against Trans Union in a faxed document to each of the CRA's and see if they will delete instead of going to court. If they do not settle for deletion, file lawsuits in each court against them for maintaining inaccurate tradelines with each company. Does this sound good? I hope I am on the right track. -Kyle
Are all of the charge-offs with CAs? Do you have any OC (original creditor) listing as "charged-off" One idea that comes to mind is to review each listing for each charge-off at all Credit Reporting Agencies. For example, if ABC Collections has listed an account as a "paid charge-off" at each of the three major CRAs and the reporting varies at one from the other two - you have an opening. Carefully review each account listing. It matters if a date is incorrect, or the amount varies by just $1. Essentially, if the account are unequal, you don't tell them where they are unequal, only that they are which leaves them wondering "Where?" It'd be helpful to include a reference to their responsibilities as data furnishers and to quote the statute section in your letter. The CA has no PP [permissable purpose] to access your closed and charged-off account and if they do, it's a $!,000 violation. They'll be wondering "Where?" Is it worth the risk to get caught for a PP or just delete the account? They got their money, they'll opt to delete and if they don't - take them to court for the impermissable PP. Check your accounts.
This is what my credit report looks like: Revolving Account PSE CR UN 46080181XXXX 7/2002 $0 Yes Revolving Account JB ROBINSON 30XXXX 2/2002 $0 Yes Revolving Account CAPITAL 1 BK 47912422XXXX 3/2003 $0 Yes Revolving Account BANKAMERICA 40242120XXXX 7/2001 $0 Yes Revolving Account ASSOC/CITI 46212001XXXX 7/2001 $0 Yes Revolving Account PSE CR UN 68513XXXX 12/2004 $0 Yes Installment Account FIRST MERIT 19XXXX 4/2003 $0 Yes Revolving Account CRDT FIRST 5XXXX 1/2003 $0 Yes Revolving Account CAPITAL 1 BK 48623622XXXX 7/2002 $0 Yes These are my "negative items." It looks like all the problems are with the original creditors, I guess. What is the best way to seek deletion? Contact the CA's and attempt to delete, and if they don't, ask for validation from the OC's? I don't quite get it - this point is not very clear to me. Thanks for all the help! -Kyle
What you need to look at is the listing for the same account on all three paper credit reports. For example, does the first account you listed have a "paid collection" on it? Or look at the last account you listed: Does are all the payments, or late payments, accurately listed?
Yes, they are listed with all three CRA's as "paid collections," "paid profirt and loss," or "charged off account." I disputed them prior to this (maybe 6 months ago) and they updated them with the information as such.
Start with the Bank of America account. Now compare all three listings on each paper credit report. Is it being equally reported? Is it possible that there's one 30-day late on one report that's not listed on another? Check for the minor details.
Ah, okay, I see what you are saying. For Bank of America: TransUnion: -Last Report on 9/05 -Closed 7/04 -$1137 high credit -7/01 opened -Current status: Payment after charge off/collection -No 30/60/90 day late notes (no bar graph on myFICO.com) -Description: Settledâ??less than full balance Experian: -Last Report on 10/05 -$1137 high credit -7/01 opened -Current status: Account paid in full for less than the full balance -30 day late note: 1 -90 day late note: 1 -Charge Off: Oct 2005 -Description: Account paid in full for less than the full balance Equifax: -No account number listed (!) -High credit: $1200 (other reports say $1137) -Opened 7/01 -Date of last activity 5/04 -Description: Charged off account Amount in H/C column is credit limit -Status: Bad debt/collection -30 days late: 1 -60 days late: 0 -90 days late: 0 So it definitely looks like there are discrepanies, even with just this one OC! I have no CA's apparently on my credit report, I had a few marks, but they fell off with disputes. How do I go about punishing the inaccurate reporting based on each CRA with the OC's now? I have my full list of creditors written down. I want to say thanks already - this is much farther than I have gotten compared to any other place so far! Light at the end of the tunnel? I sure hope so. I am willing to go as far as I need to (including filing suit, I have no problem with that) so I can have a clean report again. Thanks, Kyle
Everyone begins at the beginning, and you're at the first step. It's the details that matter and they are not reporting equally. BINGO!
So I should ask for validation from the OC's, and when they don't respond, file suit against the CRA's for keeping an inaccurate tradeline? I guess I am a bit lost here. Thanks!
Next step is find the address on the account used by Bank of America. They have specific responsibilities as a data furnisher....
I don't quite understand - find the address that the CA used, and contact them? Find the address that was listed for me? Find the address of the OC?
A credit report tradeline is reported by a Data Furnisher, which could be either the Original Creditor (the bank), or a Collection Agency that was either assigned or sold the account. For example, a BofA account might have a TL posted by BofA, but it might also have one posted by a CA working for BofA, in which case it would indicate that the CA was placing the TL, but that the OC was BofA. Whoever is reporting it is who has the legal obligation to report accurately, so they are the one you have to get to remove or correct it, if it is erroneous. You can dispute errors reported by CAs under FCRA thru the Credit Reporting Agencies (e.g.: TU, Experian, Equifax), and you can dispute under FACTA with the Data Furnisher, whether they are an OC, or a CA.
I think I understand a bit better after re-reading more information - sorry about being jumpy! Tell the CA's that the information on my credit report is inaccurate and quote the FCRA and related laws in doing so, informing them of their duty as data furnishers. They don't know WHERE the problem is, only that I have brought it up. Since they can't access my accounts without violating those laws, there has to be a way to ask for deletion. If they access my accounts, it is a violation, and I should sue the CA's for those violations, right? As for finding the address, should I just call Bank of America and ask who maintains the account currently? There aren't any duplicate items on my credit report as it seems, so I don't think that is the problem. Basically, I am not sure who I need to attack here - it seems that the CRA's are keeping inaccurate records, but the CA's should be the ones I go after first for deletion, but I don't understand the role of the OC in this as well. Sigh, this is all really confusing. Here is my understanding of the situation so far (I would appreciate a comprehensive breakdown as well): 1) Contact the CA's and tell them the information is inaccurate in my credit reports and demand deletion. 2) If the CA's access my credit reports, I have them on a violation. Then I can send intent to sue based on these violations, even if the collections are PAID. Correct? 3) If the CA's ignore me, I have them on a violation of not furnishing the data. 4) The only other option seems to be that the CA's would delete my requests. There has to be a way out of it for them. What is it? If the CA's get the validation from the OC, where do I go from here?
If Bank of America was paid by you, look at the paper copy of your report. There should be an address listed for BOA under the BOA account listing. Individuals have varying measures of success to with unique approaches to credit accounts but I've always been of the mind to look at it as if it may go before a judge. What you have is incorrect reporting and incorrect reporting can be *anything*. If it isn't EXACTLY being reported the same as according to what you have in your records, it's incorrect. Case closed. If it's paid, they cannot pull your credit report to check where it's being incorrectly reported. It's paid. The next step is to write to BOA and if they try to check, it's an impermissible purpose -- $1,000 violation. That's your leverage. They are now confronted with a choice: risk going to court over an impermissible purpose violation on a paid charge-off or to delete the account.
You're OK, don't get jumpy but go back to the top where you listed the Bank of America account listing on each of the three credit reports. Where the account is listed on the paper reports, there should be an address. Can you see it? If there isn't an address listed on your reports for BOA, get out your old card or an old statement and call them for their address.
Excellent - so go after the OC's first and monitor my credit report to see if things change. Do you recommend any service for this - paying $45 each time I want to pull my credit reports is kind of annoying! I don't mind it, of course, but if there's an automated way to do it for a flat fee, I'd like that. As for the addresses, they are not listed in the accounts, strangely enough. Most of them do not have an address for their institutions. That's not a big deal, of course, I can find it out myself by calling around and doing a bit of investigative work. So, to recap: 1) Print out paper copies of each credit report. 2) Compare the reports, and if discrepancies are there, tell the OC's that there is inaccurate reporting. 2a) If the OC's pull the data from the CRA's, I can sue them for violations. (And settle for deletion of course.) 2b) If the OC's do not respond, I can sue for violations. (and again settle for deletion) The worst case scenario is if they validate without checking with the CRA's and provide documentation. In that case, I'm screwed, right?
Technically, they can check the entry they are reporting to see if it is accurate, and to correct it, without pulling your full report. If they don't do that correctly, they may illegally pull a full report, which they have no right to do if the account is paid and closed. This would apply to either the CA or OC, with respect to their own reporting.
OK! Here we go. You're not interested in monitoring the account really, you want to blaze a paper trail to take it before a judge, if necessary. (While you can print out the reports, you really should get the *paper* reports directly from the credit reporting agencies. If you haven't obtained your FREE paper report copies, this is the time to do it and you save some money.)
Ah, I see. So if they just check their entry, I am pretty much screwed - there is nothing I can do except dispute spam and attempt to trip up the CA's now for violations?
