Hey guys! I have a problem with Equifax and was wondering if you can offer your insight on what to do. I have a car that was financed with GMAC in April of 2000. The payments have never been late, but in September Equifax reported it as 30 days late. I disputed the 30 day late as it is erroneous, as "never paid late". Lo and behold yesterday I get the so called corrected credit report in the mail and it has been deleted entirely! I need this good tradeline to show and called Equifax who told me there is nothing they can do about it because GMAC did not respond so the whole account is deleted! Is this legal for Equifax to do this? Thanks in advance, Lucy
I guess this is one time the credit bureaus do something right, but it turns out to be the wrong thing for the customer. They did abide by the rules to delete it if they cannot verify it within the time frame specified by the FCRA. Since it's an active account, you can probably ask GMAC's research department to resubmit, but w/ the correct status. Once done, you can request an updated credit report. Don't think it'll cost you. Rina -- Conquering through Christ....and Creditnet
I had asimilar problem with BMW Finance. I called BMW to tell them the CRA's are trying to screw me and I need their help. I convinced them to send me a letter saying the account was never late. After I got the letter, I called back BMW and asked to re-report the account. Low and behold it was reported with 30-day late. I wrote a letter to them and attached a copy of the letter and they deleted the late notation. Hope it helps.
I called them again yesterday. They will not delete just the late, they are required by law to delete the whole thing! Ah whatever... I called GMAC yesterday and the credit lady said they report every month, so it should be back on there. We'll see I guess...
