Ok experts .. I need your help. I had an account with HHBank that went to collection. I have been paying the CA and the true balance is 481. The OC is reporting the balance as 4,084. Contacted the OC and was told they would conti8nue to report this balance until it's paid in full. Is this legal? Date Opened: 1/99 Reported Since: 5/02 Date of Status: 6/04 Type: Revolving Terms: NA Monthly Payment: 0 High Balance: 4,084 Recent Balance: 3,128 as of 6/04 Status: Collection account/current, was past due 60 days. This item was verified and updated on 5/04. Is this re-aging? What can I do as this is misleading!! Thanks to all. aafemale Knowledge is power
The High Balance won't change... Where they are reporting falsely is that $3,128 is not the true current balance. Did you dispute it with them in writing, or did you call? (In other words, did they put in writing that they would continue to report $3,128 as the balance until it is paid in full?) If you disputed it in writing, I would dispute the account with the CRA's, and if they update it incorrectly, then you have a Section 623(b) violation which you *CAN* sue them for. The reporting incorrectly monthly is a violation, but since its only a Section 623(a) violation (automated monthly reporting), it isn't actionable by yourself, you would have to file a complaint with the FTC/State AG, and if they had enough complaints on the company, then they could take action against them.
Jam... thanks I called and was told by Customer rep they would continue to report. So I should send a dispute letter CMRR? Do I reference the 623(b) violation? BTW, this debt was incurred in MD and I now live in SC. Is there a sample letter I can use? Appreciate all your help. aafemale
As I understand it the term "re-aging" refers to the DOLA (Date of Last Activity) which calculates the 7+ years before the CRA will delete automatically. The date updated/reported is just that -- it states the last time this data was reported to the CRA.
http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&threadid=55502 Just in your own words, memorialize the conversation with their rep (how long ago was the conversation). I asked ___, "Why they were reporting an incorrect balance?" He/She answered me, "We will continue to report this balance until it is paid in full." And re-state that they are knowingly reporting false credit information to the credit reporting agencies in violation of the Fair Credit Reporting Act. Then notorize it, and mail it to them. Then when they've received it, dispute the account with the CRA's.
Since this appears to be EX which verified it. You will have to work a little bit harder when you request the investigation. I would request the re-investigation, and procedures request, and include a copy of the memorialization letter, and the green card showing that it was received. Hopefully the notice that they've been notifed by both phone, and notorized letter will be sufficient to overcome the 'previously investigated' objection. The key is that they've already provided you with a $1,000 violation when they verified it with the wrong balance to EX. You're putting them on notice without really directly threatening it, yet.
