Experian is listing an old acct I had with Fashion Bug Status-Closed Dte Opn 7/1999 Limit $100 Paymnt- Legally paid in full for less than full bal. closed by consumer, charged off, account closed by credit grantor. Comment-Election of remedy reported by subscriber???? Due to fall off 5/2008 I asked cust svc @ Exp what it means she stated the OC had the comment added. Spoke with FB cut svc they have no clue! Any advice will be greatly appreciated at this point! in what course of action to take as I'm trying to refi spring of next year.
Is it accurate? Was it charged off? Was it paid in full for less than full balance? Is it reportable? When was it charged off? When did it originally go delinquent? Is 5/2008 7.5 years after that?
Thanks for replying Ontrack, The account is mine, I was hoping to do a IT IS NOT MINE dispute, In turn Fashion Bug has noted my account as fraud and mailed me a fraud package. If you mean accurately with all 3 CRA's, no EQ updated this TL to show paid never late with $0 bal the beg of 11/06. Now the TL on EQ has been updated to lists a balance, of $133.00 the remaining of the settlement. DOLA of 1/01/01, revised as bad debt placed for collection. states the account was closed by consumer, settlement accepted. charged off account closed by Credit grantor They're showing 7/99 open went into collection 2/02 Settlement paid 5/03 I don't know how it is listed with TU. One of my questions is what does Election of remedy mean? they have that posted in the comment section on my experian report? Someone please help! I figured by it being so old it would fall fairly easily, (sigh)!! any comments, suggestions, miracles would be appreciated! Thanks
Accounts posted by OCs tend to be harder to remove than those posted by CAs, since they have and maintain the original records. CAs don't have original records, would have to contact the OC, may have liability under FDCPA for failing to properly handle a dispute, and on an account already paid, have little to gain from being in the middle of a dispute between an OC and a consumer.
Ontrack, can you please elaborate on this? (may have liability under FDCPA for failing to properly handle a dispute, and on an account already paid)
If FB is the OC, and not a CA, FDCPA does not apply. Just like any data furnisher, they are still responsible under FCRA for reporting accurately.
That's the whole thing!! that has me frustrated with this tradeline!!! ugh!!! I was disputing with the inaccuracies which are clear on my CR's I've sent letters requesting validation. They have responded with the acct is showing paid settled that's it, so, I figured I will call, but the cust svc rep wanted personal info and asking what was being reported incorrectly, I did remain vague so she got real specific as far as trying to identify me with the acct and before I knew it here comes a fraud packet. oh btw, i forgot to mention back in Oct, fashion bug reps kept calling my home wanting me to provide information on this acct I still have the message.. Anywho I said all that to say I understand the liability they have in reporting accurate information, and I not going to let them slide with the fraud slip. Thanks for the help Ontrack... no good deed, goes undone......
The key issues are: Did you open the account? If not, get it off, based on id theft or misidentification. If so, is it reported accurately? If not, fix it, under FCRA. If you did in fact open the account, if in fact it was charged off, if in fact it was settled for less than full, and if all that is reported accurately, including that no further balance is due, you may have no legal basis for getting the reporting changed.
If you did in fact open the account, if in fact it was charged off, if in fact it was settled for less than full, and if all that is reported accurately, including that no further balance is due, you may have no legal basis for getting the reporting changed. Yes, I did open acct. Yes, it was charged off as bad debt. Yes, I settled with a collection co for less than full balance in 2001. At the time the balance owed was $333.00 they settled for $200.00 leaving a bal of $133.00. I first discovered that both were listing this acct in 2004 when I bought my home, I disputed with the collection agency Spirit of America, because both were reporting this account, FB and Spirit of Amer. I didn't know it at the time these were for the same account; Spirit of America returned the account or stop reporting. Now FB is showing the remaining bal after the settlement! Can they do that! This account is a nightmare! I tried explaining to the rep @ FB that this is not a fraud acct! Now she is asking me to write a lttr stating that I own this acct and they will not discuss the account with me until they receive the letter. All I wanted to do was dispute the discrepancies on how the CRA's were reporting this account and the fact that FB kept verifying it and now it seems as if all the work I put into getting this trade line removed is shot to %^&&! What do you think? Should I submit the letter then follow up with FCRA violations of inaccurate reporting as I have been? Thanks in advance No good deed, goes undone.....
