Ok, So I got a response from Cap 1. They have actually placed a note on my report.. Not too happy about that, my score decreased because of the note. I do wished I had read somewhere that whenever you dispute (I don't even call it a dispute letter but a validation letter) anything with the creditor, they have to report it to the Bureaus and it may affect your score.. All I read about the nutcase letter was "you have nothing to loose, the debt has been paid" Anyway, it's already done. Here's what they sent me: "According to our records, we received your application by internet on DATE and your account was opened on DATE. The last charcge billed to your account was on DATE in the amount of $4.29. Your last payment received on this account was on DATE in the amount of $2.69. We have placed a disagreement code with a resolution of dispute on your credit file to the major credit reporting agencies This account was opened with a valid contract between you and Capital One." What I actually asked in the letter was that they validate the negative tradelines, (meaning the lates) I have 2' 30 days late and 1' 60 days. So, in the next letter I'm going to write, I intend to clarify that I'm asking them to validate those lates, that I'm not disputing them but I'm specifically asking that they provide me with some kind of documentation that shows that I was late as they report it on my CR because I do not recall being late. I'm not sure I want to use nutcase#2, given the situation. Any thoughts?
Welcome to Creditnet Millie24! Disputed accounts are usually excluded by FICO when your credit score is calculated, which may be why your score dropped. In some cases, this actually improves peoples scores, so it can go both ways. If you asked them to validate the negative tradelines in your letter, there's no way they would have known you were actually referencing the late pays. "Tradelines" actually refers to the accounts themselves. I would directly dispute the late pays instead, and I would dispute them through the CRAs first to see what happens. You may get lucky and they'll get deleted without a lot of effort on your part.
I already disputed the lates with the CRAs, they were verified by Cap 1. I said "negative tradelines", but the only negatives I have from cap1 on my report are the lates, what else would they think I'm refering to? I will send them another letter this week. Will post it here for a review. I am trying to get a Auto loan by February. I really didn't need this.
My point was that if you use the term "negative tradelines" the credit issuer is going to verify the actual tradeline itself. If you want to specifically dispute the validity of the late pays, then you should be very specific about that. Provide whatever documentation you have to show that you were never late, and then demand that they update your credit reports accordingly. Push your request up the ladder to a supervisor and don't give up after the first CSR says they can't help you. Good luck!
Hello again, Happy new year to everyone.. I just need some feedback on this letter I'm planning to send to Cap1. Anything I should change/add? Thanks!!! DATE Name of Old Fully-Paid Acquaintance Address City, STATE ZIP RE: Account # XXXXXXXXX To Whom it may concern: Again, I am formally requesting that you validate the late notations you have submitted to the three major credit reporting agencies by Capital One for me, [NAME], for account number XXXXXXX. You are inaccurately and incompletely furnishing information regarding the above-referenced account to the credit reporting agencies in violation of the reporting requirements of the FCRA, Section 623, Responsibilities of Furnishers of Information, and for which you are responsible. I am in receipt of your correspondence postmarked December 17. You stated that the account is reporting accurately in your opinion. However, itâ??s not. You have failed to provide me with competent evidences that the negative tradelines associated with this account are valid. I do not recall ever being 30, 30, and 60 days late for the year of 2009, as you are currently reporting on my credit report. I am specifically requesting evidentiary documentation that substantiates the information you have furnished to the credit agencies, including the required commencement of delinquency date, as verification of the information you have provided to the Credit Reporting Agencies. Furthermore, there are discrepancies in the document you have provided me and the actual details of this closed account, and with what you are currently reporting to the credit reporting agencies. You have noted in your correspondence that you have placed a disagreement code with a resolution of dispute on my credit file. However, the dispute has not being resolved, as you have yet to provide me with proper documentations validating the late notations you are reporting on my credit report. For your benefit and as a gesture of my goodwill, I have enclosed the FTC's required informational disclosure entitled, Credit Reports: What Information Furnishers need to know which defines and clarifies your responsibilities and potential liability as an information furnisher. Should you not be able or willing to provide me with the substantiating documentation as verification of the present reporting, please have the late notations deleted from each of the consumer reporting agencies within the next 15 days of you receipt of this tracked letter. Should you again fail to fulfill your mandated duties and responsibilities, I will have no other recourse but to consider bringing legal action against Capital One for its continued non-compliance and violation of the FCRA, under which is provided an individual cause of action for enforcing its provisions. Please note that this is the last time Iâ??m asking for an investigation. I expect final resolution of this matter within 15 days and look forward to receiving written confirmation of my request as well as written confirmation of Capital One intended actions. Failure to provide me with the necessary documents, I will be forced to take this matter to small court claims. Sincerely,
Hi Millie. Happy New Year to you too! You're still confusing me a bit with your use of the term "validate". As I previously mentioned, requesting that something be "validated" by a creditor usually means that you want proof the debt is yours and that they legally have the right to collect it. By the way, this only works with CAs, not OCs. In your case, it really seems like you are requesting more of an investigation into your dispute and that they provide documentation proving that the late pays existed. I think you made that clear towards the end of this letter though, so requesting that they "validate the late notations" may not be that big of a problem. I hope this works for you and you're able to get a satisfactory response out of Capital One. Good luck!
Thanks for the feedback! I figured by specifying what it is I want validated, it wouldn't be confusing. I'll send this tomorow.
I got a response from Capital one today. They are asking me to provide them with additional information I don't understand. This is what they say: " Thanks for contacting us about your credit bureau report. In order for us to research your request, please send us the information listed below by 02/13/2012: - Any supporting documentation, such as your credit report, showing that we've sent incorrect infromation to the credit reporting agencies - A copy of this letter, with your full 16 digit account # written in the space provided below - A copy of the original correspondance you sent to us about your credit report. - Additional items highlighted below ( full 9 digit account #, the exact nature of your dispute, for payment history disputes, please provide us the months in dispute showing dereogatory reporting) Please note, we can't take any action on your request until we receive this information. We apologize for any inconvenience this may cause. Once we receive it, we'll get back to you within 30 days. If you have any questions plz give us a call at..." I'm surprised that they don't keep track of the correspondances that they receive and I don't undersand why they are asking me for additional information. I was pretty clear in the letter I sent! I'm pretty sure they are able to acces my credit report since they added a comment on it with the 1st letter I sent last month. Now, from this letter, it seems like they don't know what I'm talking about. Should I send them all the information they are requesting? I feel like they should be the ones investigating this, since they already have access to my report anyway, not me providing them with copies of my CR! Are they kiding me???
I know it sounds like a pain, but I would just send the documentation. I would have sent much of this, like a copy of my credit report highlighting the errors, with my initial correspondence.
Accessing is different then reporting. They should be able to access and report; but usually if they ACCESS your report, they could do a full-pull, which could result in an inquiry. Anyone could send anything to a CRA, "Hey, so and so owes me money, I want it to appear on their credit file", and the CRA will be more than happy to post it for them (for the green stuff that makes any capitalist system thrive).
