Ok, here's the situation. I had an Express store account and I settled it. It is reporting on my current reports as: ****************************************** DOLA -9/1999 Account History with Status Codes 12/2001 5 11/2001 5 10/2001 5 09/2001 5 08/2001 5 07/2001 5 06/2001 5 5 = over 120+ past due ****************************************** WELLLLLLL.........by looking in my old files when I started this credit repair without all the knowledge I have now, I found an old EQ report from 9/2000 and on that report this same Express account is listed as : ****************************************** DOLA - 01/1995 1 Time 30 late 1 Time 60 late 20 Times 90 + late 7/00 -R5 6/00 -R5 5/00 -R5 SETTLEMENT ACCEPTED ON THIS ACCOUNT CHARGE ****************************************** I called and spoke with "Mr. Thompson" at World Financial Bank. He stated that they have NO CONTROL over what the CRAs report! I was like BS! You are the furnishers of information and according to the FCRA the 7 year reporting period began 1/95 which was 180 days after the start of the delinquency that led to the chargeoff. He said well you paid it in 99 so that's the DOLA. So now, I've drafted a letter regarding them re-aging the account. Please critique and provide feed back. Thanks. _______________________________________________ World Financial Network National Bank P.O. Box 659728 San Antonio, TX 78265-9728 CERTIFIED MAIL RETURN RECEIPT REQUESTED # RE: Express XXXXXXXXXXXXX Dear Mr. Thompson: You are inaccurately and incompletely furnishing negative information regarding the above-referenced account to the major Credit Reporting Agencies in violation of the reporting requirements of the FCRA and for which you are responsible. I have previously disputed the above-referenced account and its reported information with the consumer reporting agencies, without resolution. This account has been re-aged to reflect a date of last activity of 1999 when in fact, it should reflect a date of 04/95 (date of charge-off). Additionally it reflects late payments after the account was paid off in 1999. I dispute your information in its entirety and request evidentiary documentation that substantiates the information you have furnished and its reporting, including the required commencement of delinquency date, as verification of the information you have provided and its present reporting. According to section 623(a)(5) of the Fair Credit Reporting Act, if you report information about a delinquent account thatâ??s placed for collection, charged to profit or loss, or subject to any similar action, you MUST, within 90 days after you report the information, notify the credit reporting agencies of the month and the year of the commencement of delinquency that immediately preceded your action. This will ensure that credit reporting agencies use the correct date when computing how long derogatory information can be kept in a consumerâ??s file. In this case that date is 04/95. For your benefit and as a gesture of my goodwill, I have enclosed the Federal Trade Commissionâ??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, to cure these violations within the next 7 days, please have the information deleted from each of the consumer reporting agencies that you have furnished it to as required. Should you again fail to fulfill your mandated duties and responsibilities, I will have no other recourse but to consider bringing legal action against World Financial Network National Bank for its continued non-compliance and violation of the FCRA, under which is provided an individual cause of action for enforcing its provisions. 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 World Financial Network National Bank's intended actions. Sincerely,
Is your goal deletion or the correct DOLA? I assume either, since the DOLA would be more than seven years and you should be able to get it dropped. Should is the key word. Have you documented any other contact? That is, letters to advise them of the inaccuracies? If not, I would use this letter to let them know, include copies of both reports and expect to see updates within 30 days. The language about the FCRA and especially willfulness is important. Do the validation/dispute tango, disputing when you get the CRRR back. Wait out the 30 days, see if you get what you wanted. If you do, dispute on DOLA and get it off. If they now represent a bogus DOLA after you've submitted documentation and disputed w/CRAs, you've got them on willful misrepresentation. Take 'em to court. Don't just threaten, it's profitable at like $5k per offense.
Thanks Dan. My goal is to get it deleted since it's served it's time so to speak on my report. Will not allow them to report it 14 years. Unforntunately this is the first letter I'm sending to them, but I do have copies of the old and new copies of my reports. I'm overnighting it to them CMRRR and faxing it to them.
