We had an auto loan from Summit Bank for the first two years of our loan. Then they sold the account (the whole auto loan business apparently) to Fleet bank. We had three thirty day lates with Summit but no lates with Fleet and we have a year left on the loan. Equifax and Transunion are reporting Fleet and Summit as separate accounts. Experian is not. Can Fleet remove the lates since they own the whole loan now even though the lates happened with Summitt? Thanks
I would think that Summit would have to remove the lates, since they are the ones reporting it. I could be wrong though. At the very least, here is a courtesy bump for you!
How do the tradelines report on EQ & TU? Paid in Full?? I'm trying to determine if you should dispute the Summit tradelines as "Not Mine" or "Account Closed, Never Late" What shows on EX - Fleet Bank only? Ultimately, I think you should only have one tradeline from Fleet Bank showing "Paid in Full/Never Late". Or at least this should be your goal. Hope this helps!
Fleet bought Summit lock,stock,and barrel about 2-3 years ago. So in theory all activity should be reported under the Fleet tradeline. I would guess they did a data conversion to Fleet's system and Fleet doesn't know about the lates so I would just dispute the Summit entry as "not mine".
Fleet bank is reporting on all three CR's.(the loan is still open for another year) Summit was sold to them over a year ago. Interestingly however, the Fleet account is also reporting that we opened an the account with them may of 1999 when we actually opened with Summit. It also concerns me that Equifax is reporting Summit and Fleet with the exact same information execpt that Summit is listed as "Account transferred or sold" and without a zero balance. It is accurate but does that make creditors think we have two auto loans out for $9324 each? Thanks for looking this over for me. Diane143 Equifax is saying Paid as agreed with Fleet , no lates but the have a seperate entry for Summit where is says"as agreed" but 3 times 30 days late... May 01, 2001 April 01,2001 Jan 01, 2001 Experian is not reporting Summitt at all only Fleet as "current/ was 30-3" Notice the difference in dates they list. Jun 01,2001 May 01,2001 Feb 01,2001 Transunion is not reporting Summit at all only Fleet as "paid as Agreed" late May 01,2001 April 01,2001 Jan 01, 2001
I agree, I would deispute all the Summit tradelines as "Not Mine" and try Marci's or Doc's Goodwill Adjustment letter on any lates that show up under Fleet. Here's the link for the Goodwill Adjustment http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&pgnum=1&postid=191627#post191627
Sorry I did not mention that I did dispute Summitt as not mine at Equifax and it came back as "Verifyed as your account". So I was thinking of disputing the dicrepancy in dates but perhaps a good will letter will work better since the account is still open. Thanks
