When a Credit B does an investigation and it comes back verifyed dosen't the Credit B have to give you documented proof from the original creditor or is that something you have to demand?
You have to demand it. Even then you won't get it. Demanding procedures regarding their investigation usually returns a silly form letter of no value. You should always demand these. Even tho what you'll get back is worthless you keep them busy and they will fail to verify an account for one of your CN comrades. Once you demand procedures they must respond within 15 days. Also - I'm glad to see you using the word demand rather than request.
Sorry Diane, I guess I didn't really answer you. The CRA verifies by calling the CA and asking "do you have Dianes account, yes or no." If the CA says yes, it's verified. These are performed by $7-$8 hr. people who are expected to do 10-15 verifications per hr. They require no documentation. That's "your" job. Hope this answers.
Butch, where did you get that the idea that they call on these accts? From my experience and from what I was told by the atty for Credit Data Southwest, the exp. affiliate, they send out verification cards in the mail. That's why it often doesn't get verified, because they don't send them back. If it was just a phone call, almost every dispute would be verified in 5 minutes. Could it be that they are expected to write up 10 - 15 verifications per hour to be mailed?
I think a lot of this is done electronically as well (if the furnisher is using electronic media, which many are these days). Either way, they submit the form and the furnisher either ignores, in which case the CRA deletes, or, the furnisher tells them to delete (a rare thing), or they come back and say "no change" and the CRA changes nothing, or they say "yes, we have an account, but re-age it so it stays on their report another two years" <grin>. There is no documentation per se of the furnisher supplying the CRA with supporting evidence. Its all based upon the furnisher's report. L
I "gleaned" this from numerous posts by CNer's about the responses they got when speaking to the CRA's, CSR's. Come to think of it that's probably why it's wrong. LOL I'm sure they do it by mail too.
But is there not some sort of law that says we can "request"(I did that for you Butch LOL) documentation and copies of the orginal signed documents from the original creditor and they have to furnish by law even bypassing the CRA's altogether. Then can I send the CRA's documentaion from the creditor or is there a pecking order here that is the cardnial rule.
No, I don't think there is. There is the FDCPA which refers to 3rd party collectors and under which you can "demand" validation or proof of their claims. That proof should contain copies the docs signed as well as proof of the amount they claim. You can send a notice of dispute to an oc per the FCRA I think it is rule 623. But as far as I know there is no law that makes an oc furnish this info.
I found something interesting. In the Equal Credit Opportunity Act (206.6) ll, it says that creditors must consider any information at the consumers request that thier credit report may contain inaccurtate information and you can explain this to them. Maybe this is the provison that deals with the "100 word statement" but it does not say it has to be in that form. Apparently a creditor who refuses to give you credit based solely on an error on your credit report that can be proven an error whether or not you sucessfully get the error removed, might be in violaton of the ECOA. But in 206.6part 1 it does say they may consider the credit history of A SPOUSE who USES OR who is contractially responsible for an account. That is one place where I think the law is flawed. In my case, I am trying to get a charged off account of my husbands off my report. It is not my credit history being reported because I did not pay the bill or get the bill nor am I legally responsible for payment. But when it shows up, I am denied credit. I want the original creditor who keeps verifying my account as accurate to give me documented proof that I am an authorized user and that I may have signed something to that effect.
This is what Experian will send you if you ask a rep verbally to send you the procedures used to reinvestigate: "Dear jambe, When you question information on your personal credit report and tell us specifically why you believe the information is inaccurate or incomplete, we contact the source of the information directly by telephone, letter, or through an automated verification system. We ask the source to check their records to verify all of the information regarding the item you questioned, and report back within 30 days of the date that we received your request (21 days for Maine residents). Once we receive their response, we will send you the results of the investigation. If we do not receive a response within 30 days (21 days for Maine residents), we will update the item as you have requested or delete the information, and send you the results. Sincerely, Experian NCAC P.O. Box 9595 Allen TX 75013" The thing that gets me is that it took only four days to get this useless letter out to me, but almost a month to get me a paper report, and over two weeks to get my login info for CreditExpert. Losers...
I forgot about direct linking to images being disabled on that server. Use this link instead. Sorry 'bout that )
Yep. That's the letter alright. I was also told by the CS rep that I would need to serve a subpoena if I wanted the actual records of their verification. This came about after one of my creditors told me that they had NEVER been contacted by EX yet EX had "verified" the information (no change/remains) numerous times. This same creditor had records for contact w/ TU and EX so in this case I tend to believe the creditor.
And I ever so innocently asked "Does that mean that I have to file a lawsuit?" I was told "No, just a subpoena." And they following day, coicidentially I had another acct now reporting twice and my former address had suddenly become my present address. When I called about this the new rep told me that she couldn't see how that could have happened b/c there had been no updates to my rpt. I feel that it was retaliation for questioning whether that other creditor had been contacted.
Was told the same thing today by another Experian 'CSR'. SHe said that all they are required to do is give me the method they contacted the information furnisher. I said they hadn't even done that and she said they would "get some additional information out to me". I asked about the FAX situation and she said that "all fax numbers have been disabled since the first of this year". I asked what became of a fax sent to a working fax number reportedly belonging to Experian. She said they wouldn't go to the right place. I asked if they had anything modern, like email, and how can I get things expidited. She said I could send federal express overnight. Ie, another fruitless call to Experian. I am now fed up with going the simple way. I want to sue them just because they are jerks, not for any other reason. If anyone has gone this route I would appreciate some pointers. I suspect I haven't established enough of a case yet.
I am willing to bet that the "additional info" is going to be yet another copy of that letter that you've already received.
