I have a question, and it will involve suing a loan company. I've had a paid in full loan with this company since December of 2006. They reported a 30 day eror back sept 06 which was suppose to be removed, but I had other issues in my life which that wasn't as important. I disputed the 30 day late again this month. Well the Loan Company On Purpose I know reported to EQui that the 30 day would remain, but they reported it as late feb of 2007! I paid the debt off in full dec 2006 and my bureau from them has shown that since Jan 07 to Aug 07. They not only reported it again wrong, but I know they did on purpose because they had to know my loan has been paid of 7 months ago. I not only want it removed, but I want them to suffer in the pocket. I just would like to get a feel of what route and the max i can hit them with, I'll probably have to take to small claims court also right? State Georgia
The first thing I'd do is dispute it with the CRA, and include a copy of any payoff docs you've got. You MUST have gotten SOMETHING from the mortgage co, right? That'll get it off of your credit report. Then you'd want to search around here and some other forums (follow links in some of the popular posters' sigs) that have some nasty letters that you could send for FCRA violations. This doesn't seem like an FDCPA violation because the debt has been paid off. So it's just FCRA. Seems pretty cut and dried if you want to persue it. But I wouldn't expect to get much for one or two violations.
Not to burst your bubble here, but before you got to court you will have to communicate this "error" with another dispute, and give the CRA(s) a chance to "remedy" the error. If you go to court, you will be asked if you disputed this again. You must show a paper trail that shows willful negligence. In short, the FCRA spells out a set of processes for these situations, but you must ensure you follow them before you bring suit. Double check that you are reading the new tradeline correctly, and that it clearly shows the lates as of 1/07 and beyond.
So even if I know and they do too, they intentionally reported this, I just have to allow them an oppourtunity to correct it and that's IT!
Strategy #1 Start a serious letter writing campaign. First, to the local office. Make sure the letter is detailed, giving dates and names and all comments/statements exchanged.This will give the local office the opportunity to admit/deny the promise they made to you; if they do not deny it (in writing), then they are inevitably admitting they did commit to the removal of the derog. If they admit it, then its just a matter of pushing paper. If they deny it, then its your word against theirs; move on to strategy #2. Strategy #2 If that does not work, then I would bring out the guns regarding incorrect reporting. I would start a letter writing campaign to the executives of the company, to show that you tried to escalate the issue in an attempt to resolve it amicably before you file suit. All during each step, I would continue to dispute with the CRAs, but do not give the CRA a copy of the payoff docs. You do not want to resolve the issue you are trying to create on paper by giving the CRA proof of your claim. If the CRA corrects the error b/c of your docs, then your lawsuit dreams go up in smoke. You have a litigious mindset
Just a tip from the cheap seats... Make sure you are seeking a legal remedy and not blind revenge. If you are seeking a legal remedy, then you need to stay on the moral and legal high ground ALL THE WAY while documenting the other side's transgressions. It's best if you can do this in a cold and impersonal manner but that can be difficult if you're in the middle of it. If you just want to "go after them" or "get them back," you're more likely to just waste a lot of time, money and emotional energy because they'll just be calmly waiting for you to trip up, which you invariably will. If you go after any sort of legal remedy, you also need to be EXTREMELY patient as those sorts of things can take months or years to work themselves out. If you're looking for this as a quick fix, you'll be disappointed.
