My husband has 4 CO credit cards from 1999-2001. They all show as 'updated' in August 2004. Under account history, it says: status in prior 24 months FROM LAST UPDATE 3 times 90 days late, 6 times 60 days late and 9 times 30 days late.. Shouldnt this say," in prior 24 months from date account closed"?? Isnt this making it look like all this delinqency occurred in the last 24 months when really all of these accounts were closed 36-60 months ago? I have letters of apology, more than one from each creditor. They all say that they see that the accounts are not reporting correctly.. they try and try to fix them... but have been unable. My husbands number one reason for score being lower is "in the past 24 months you have missed 3 payments in a row 141 times." This is impossible.. 1) he has not missed any payments.. 2) he only has 5 open accounts on TU and 2 on EX and EQ.. so this is mathematically impossible How can we get the OC to delete these accounts that refuse to report correctly TODAY!! ? we dont want to wait 30,60 90 days as we have already been paying the price for this for many years........
You need to dispute the payment history to fix this. This is one of the headaches with the CRA's now requiring all accounts to be reported constantly, some DF's aren't updating the comments on the abandoned trade lines, and are just re-providing what they provided the last time (in this case, more than several years ago.) "This account was closed in xx/xx/xx, so it is impossible that the account was late within the past 24 months, since the account was not open for the last 24 months." I would personally, send a dispute to the company themselves, and simultaneously to the CRA to place the 30 day time-limit into place. Johnson v. MBNA requires that they conclusively verify the information from the original records, and not by just what the computer says. If you search under my username and Johnson v. MBNA, you should find a sample dispute letter to the data furnisher which quotes relevant portions of Johnson v. MBNA to hopefully encourage them to only conclusively verify the information which you are disputing, based on the original documentation, or delete if they can not find the original documentation within the 30 days that the FCRA requires that they respond to, since MBNA verified without the original documentation, and lost $90,300.00 for it.
THanks!! THat explains ALOT!! When did this law go into effect? We started noticing this happening to our accounts about May, 2004.
It is due to a shift in policy of the CRAs, not literally a change in law. My guess is this is probably in response to upcoming FACTA changes to FCRA that allow all consumers to pull a free report each year. If they don't clean up their act, or shift the burden of correction to the data furnishers, they'll be swamped, and likely have to deal with another round of FCRA changes or penalties if consumers complain.
We have been dealing with a lady at cap one. Some sort of executive.. not just customer service. She told DH today that it is fixed, that she dated it from the date it was paid off. These are CO accounts. CO in 1999-2001. We went back in late 2003 and paid them all off. Is she supposed to mark them from the derogatory or from the payoff!! Why the HE%% would we pay them off if that just made them one year old instead of 5, and 6!!!!!!!!!!!????????????? We have been trying to get her to delete these accounts as they have never shown accurately. We have complained to the FTC online several times. They always send us letters stating they see the error and are fixing it.. but it is never fixed... they show all sorts of errors ,, like date opened is after date of last activity... and on one I even got an alert that the there had been activity on a long dormant account when they changed the date of last activity to 6 months closer to the present. We need something concrete to get these accoutns DELETED.... I have zero belief that they wiill ever be correct.. they are paid and old.. what possible reason do they have for keeping them on there? Especially so full of errors?
If it can't be fixed, it should be removed. Personally, I'd send them an ITS (intent to sue) lettter, citing the Fair Credit Reporting Act.
What should we state,, the fact that the account has never once reported correctly,, and include copies of all the correspondance.. and copies of the credit reports showing it as updating from the DATE PAID instead of the delinqency date? Do we demand a $1000 check for each account? How long should we give them to delete? Our CCB ( cross country bank) and HHB ( household bank) and our old student loan ( reporting as 120 days late AFTER it was paid in full and closed) are all doing this updating thing... in the prior 24 months from last update.... manymany many times late..... These are all accounts that are SEVERAL years in the past...like 4.5.6.... so they should have minimal impact on the score... yet they show month after month as if they are happening right now.. or sometime within the last 24 months.
