I received my online investigation results through Ex last December and had an old chargeoff from Providian deleted. Just when I think I'm in the clear and have made a little progress in cleaning things up, my latest Eq report arrived yesterday and here's what it said: "Since we sent you the results of our investigation, we have obtained more information. We initially contacted the source to investigate the item you disputed. The source has now confirmed the accuracy of the deleted or updated item; therefore, it has been re-added or revised. Please refer to your personal credit report for the name and address of the credit grantor for which the information was added. If you still elieve the item is inaccurate, then we will add a dispute statement to your personal credit report at your request." WTF??? Anybody have any suggestions? This item was deleted from my TU report as well, but now I'm expecting to get the same message.
Re: Providian: Just when you thoug A couple of notes: 1) As Bailey said, Equifax went by the rules -- they're required to notify you within 5 days of a reinsertion. Otherwise, they would be in violation of the FCRA. When a reinsertion appears without notification, you can usually have it removed if you write a serious letter. Failing that, you can follow-up with a small claims suit which will succeed. In your case, you basically start from scratch... almost (more after point 2, lol). 2) Don't expect the item to show back up on other credit files just because it was reinserted on one. The CRAs operate independently, and it's very common for some items to appear on one but not another or for a tradeline to be reinserted on one report only, etc. Now for starting from scratch almost... Tell us some more about that Providian tradeline. Is it for an account that's still open or one that's closed? If closed, was it paid in full, charged off, or in collections? Was there any real merit to your original dispute (no value judgments here, by the way, I'm just asking so that you'll get the best advice vis-a-vis strategy)? Let's know more, and you'll get some good advice how to proceed, either with the CRA, or with the creditor, or possibly both. Doc
Re: Providian: Just when you thoug If a CRA inserts an item back onto your report, and notifies you within the 5 days, do they also have to tell you HOW the creditor verified it? Or do you have to send a procedure request form. I was under the assumption that they can't just call up and say "Whoops we at Providian are total morons and forgot to tell you that YES this account belongs to Joe Shmoe at 123 Park Street". I thought they have to provide MORE than the USUAL proof. Anyone? KHM
Re: Providian: Just when you thoug Per the FCRA, if an item previously deleted is reinserted, it must be "certified" as correct. I would write a request to the cra asking for how this was verified and with what info.
Re: Providian: Just when you thoug A couple of notes on the Providian account... It was charged off back in 99. In August of 01, the debt was purchased by The Credit Store, who issued me a Bank of Hoven Visa with a limit matching the amount of the unpaid Providian balance (about $650). However, the card obviously came with a $650 balance on it...The Credit Store has to collect their money somehow. I paid off that balance off after 2 months and have been charging small items on the Visa to keep a little activity on it. Providian, however, never reflected the new zero balance on my credit report. It was still showing as a chargeoff with $650 due to them...therein lied my dispute. When Experian investigated the item, Providian only responded by saying yes, they have a record on me and the account is mine. I assume, however, that they did NOT verify the balance...which was the original reason for the investigation. Therefore Experian was forced to delete it. That I can only assume so far...it was also removed from TU and when I called, they told me that this was the reason that they had to delete the old item. Experian now reports it as a "paid chargeoff, account closed at credit grantor's request" with a zero balance.
