I have a bank loan showing on all 3 CRs as being a collection/charge off. It was actually a line of credit for overdraft protection on my checking acct. Due to some glitch @ my bank, they had me owing $10 even though it was paid in full and the acct closed several years ago. I have several loans with the same bank reporting pd in full and never late. My loan officer has even tried to clear it up to no avail. I just tried to dispute it online with Experian, and got a message saying that it had already been disputed and verified. I told my loan officer that it makes no sense that I would pay all of the other loans in full, and then have $10 showing as a collection/charge off. Will it do any good to write a detailed letter and have my loan officer write a letter also?
Write a letter to the CEO of the bank or someone higher up than your loan officer. Give them 30 days to fix their mistake, then if it is still not corrected, send them an intend to sue letter.
Somwhere in the bank is someone who knows how to fully correct the mistake, the challenge is finding that person. I would call and be persistent until you reach that person. Make sure to request a document verifying the correction, and follow up with the CRAs to ensure removal. As suggested, you may want to go straight to the bank president, or CEO.
