This is what I found on my boyfriend's report. He had 2 loans from a credit union. One from 7/1/96 and one from 9/1/96. He made a couple of payments and then let them go. FCU Type: Unsecured Date Opened: 09/01/1996 Date Reported: 01/01/2003 Balance: $404 Payment: $50 Terms: High Balance: $404 Limit: Past Due: $0 Condition: Derogatory Status: Collection/Chargeoff Remarks: Charged off as bad debt Profit and loss write-off Two Year Payment History: None Reported FCU Type: Unsecured Date Opened: 07/01/1996 Date Reported: 05/01/1997 Balance: $0 Payment: $50 Terms: High Balance: $300 Limit: Past Due: $0 Condition: Closed Status: Too New to Rate Remarks: Two Year Payment History: None Reported FCU Type: Unsecured Date Opened: 07/01/1996 Date Reported: 05/01/1998 Balance: $0 High Balance: $0 Payment: $1 Past Due: $0 Condition: Closed Status: Current CINTCOLL Original Creditor: FEDERAL CREDIT UNION Type: Collection Original Balance: $539 Date Opened: 08/01/1998 Date Reported: 12/01/1998 Balance: $539 Condition: Derogatory Remarks: Placed for collection Can they wait so long to report that derogatory tradeline? He made 2 or 3 payments and that was it. I also don't quite understand why the collection agency is reporting the dates that they are. I also don't understand why the other account is in good standing. I guess I shouldn't complaing but I am worried they will report it correctly later. Here's my plan: Dispute both loans with CRAs. If this doesn't work send validation letter to CA. How does this sound? Thanks for any help. Be patient with me. This may seem obvious to many of you, but this is all new to me. Have a great day. Michelle
I think what you want to do is validate with CA first, then a week later dispute with the CRA....that way if CA never validates with you, but the CRA comes back verified then you have CRA on a violation.
