Unknown...The Saga Continues

Discussion in 'Credit Talk' started by kbanger, Aug 29, 2002.

  1. kbanger

    kbanger Well-Known Member



    Sassy, I am still trying to understand the whole strategy behind Greg & Jambe so when I make my move, I make it correct. I know this one will be a tough fight. But it will be worth it. If they delete all the tl, that involve this I will have a history of about five years, but all positive.
     
  2. sassyinaz

    sassyinaz Well-Known Member

    kbanger,

    Their strategy in a nutshell is that the CRA's are required to provide us, me and you joe-consumer, with a complete copy of our consumer report that includes all of the information they have on us, regardless of how they store it, so no excuses, all that they have is what we should be receiving.

    TU has 2 different reports, commonly known here that they do but that was discovered through monitoring. I'm surprised still, that they admit it and actually sell the other!

    On their website, if you're entitled to a free report you can view it online for free. There's a newly added other option of buying the same report that they distribute to a lender.

    When we get our reports, it is more of a summary, 30 days late xx times, 60 days late (unknown dates).

    However, what should be the same report that would go to a lender (read someone paying them for a report) would include all the dates, i.e.,

    30 days late on 1/98, 2/98, 3/98

    Beyond the differences in the reports provided, which TU will get a kick in the butt from the FTC for, and I hope a class action privately initiated, on our individual reports without full disclosure of all the dates, the report isn't complete or accurate.

    If they happened to verify those bogus summary dates and you requested their procedures, if they were dealing straight up, they'd have to disclose that they had the dates all along or updated the report to include all the dates. Both admitting a big violatation on their part.

    The way it is now, with the summary, you really can't tell if it's TU with the problem in collecting information or whoever is providing the information not providing complete information, until you dispute.

    It puts a double-whammy on the consumer instead of them following the reporting laws in the first place.

    The scores are derived partly by the dated information. TU not reporting all the dates besides illegal, keeps the scoring a big dark secret for consumers.

    Without all the dates, you don't know when the tradeline would age off or what date is being used to determine the 7 year reporting -- you'd never know if they changed it either because the dates are all lumped together in a summary.

    You can't compare what TU has to any records that you have for accuracy because you're guessing at the dates and trying to recreate an account history that they already have!

    When you get a lower score, the lender's charge you higher interest -- it's only in their best interest that we don't know how they calculate or how things are weighted.

    If I can't figure out WHY I'm in the 600 club, I'll never be able to get to the 700 club. If I'm staying in the 600 club and the reasons aren't disclosed, in this case, all the dates, I'm being taken advantage of as a consumer and at the mercy of those collecting information about me but only selectively distributing portions of it, based on TU's criteria, not the Governments.

    That's the whole point of them being regulated, they don't play fair in the business that they chose to be in so the government gave them guidelines and rules.

    When they ignore the rules, it's only a matter of time before they get kicked in the butt and pocketbook.

    Knowing TU isn't giving you full disclosure, use it!!!!!!

    Dispute everything with summary dates or unknown dates.

    This isn't complete or accurate; I could not have been late on an unknown date -- include the date or delete.

    This isn't accurate; provide the specific dates I was 30 days late xx times or delete.

    If they verify, request the specific procedure for verification.

    If they insert all the dates, how come you didn't give them to me the first time as required? You aren't withholding information on me are ya? Bzzzzzzzzzz, wrong answer.

    Greg and Jambe are disputing based on their report not being a full disclosure of ALL information -- it's not complete.

    Based on the entire report not being complete, they should delete everything with a date attached.

    I can't wait to read TU's response!

    Sassy
     
  3. kbanger

    kbanger Well-Known Member

    SASSY,
    Thank you so much. Now I really see why you are so loved her.

    in george's words "THANKS ALOT!"
     
  4. jambe

    jambe Well-Known Member

    Well, I can't speak for Greg, but I can tell you what I am after.

    Sassy sort of has it right, only I am not out to get anything deleted. In fact, I'm not even disputing anything. I just want the consumer disclosure provided for in FCRA 609.

    I don't want some consumer credit report, or even a lender report. I want EVERYTHING in my file.

    I think the difference between my approach and Greg's, is that he is using 611 to possibly put some more bite into his point. I happen to think it will not have the effect he desires, but at most will just result in the item being removed from his consumer report.

    My contention, and you can read more in that other thread, is that we can't even be sure we are disputing the right thing if we don't start with a full disclosure of our file.

    When I have more time I'll post more...
     
  5. kbanger

    kbanger Well-Known Member

    I want deletion and everything disclosed.
     
  6. jambe

    jambe Well-Known Member

    Then you essentially want no file?

    Unfortunately, in today's world, I hardly think you will get far with traditional lending methods if you have no credit file...
     
  7. jambe

    jambe Well-Known Member

    You have to start somewhere...

    Greg went for accuracy, after the score issue was given some of the attention it needed.

    I think in order to begin to truly get to the bottom of credit reporting, accuracy or otherwise, you must start with full knowledge of just what is in your file. Without this you are on uncertain ground at best when you tackle the errors contained in your report.
     
  8. kbanger

    kbanger Well-Known Member

    Jambe,

    I only have this issue with my student loans all other tradelines are fine. I would still have a credit history because all of my other tradelines are current/pays as agreed.
     
  9. kbanger

    kbanger Well-Known Member

    Also the only major derogs left are the SL and a judgement. If they were gone only a few collections and 2 charge-offs remain, both paid.
     
  10. jambe

    jambe Well-Known Member

    Right. So your real concern is with using the technicalities of the FCRA to remove derogitory information from your file.

    Do you really even care about full disclosure, so long as not having it doesn't seem to affect your score or creditworthiness?
     
  11. kbanger

    kbanger Well-Known Member


    Yes, I want to use the technicalities for deletion.

    I also care about full disclosure, I want to know everything. Not everything that does not hurt me. Kinda like the old dating rouse, what they don't know won't hurt them. Well in the end someone pays a price and I do not want it to be me.
     

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