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I received a 1099-C last year for a closed business credit card from an original creditor (account closed in 2009). Despite the issuance of the 1099-C, the full amount of the charge off is still reporting on my credit reports. My understanding of 1099-C's and credit reporting is if the original creditor intends to report to the credit bureaus, it should now be reported as: "Balance Due $0." I had one other account fall into this scenario and that bank changed its reporting to "Balance Due $0". I plan to dispute the legitimacy of the charge off, the amount stated on the 1099-C, and how it is now reported to the credit bureaus. I am considering litigation or arbitration of the dispute. I think the 1099-C / credit reporting issue may be an FCRA violation, but having a hard time locating the correct rule or statute to support me. Can anyone advise what rule or statute states that post issuance of a 1099-C the credit reporting amount should be $0 ? Thank you.

Hi, I disputed an entry on my credit reports approximately four years ago and the credit bureaus all removed the entry. After ordering my updated reports this week, I see that one of the credit bureaus added a new creditor's account to my report, shown in a delinquent status. I had never heard of the party, so I looked them up online. It looks like either the party I first disputed had a name change, or they were acquired by this new party. It's hard to be 100% certain thus far, but public corporate records on file with my state show a simple name change. My question pertains to to the Fair Credit Reporting Act, Section 611, which states: (ii) Notice to consumer. If any information that has been deleted from a consumer's file pursuant to subparagraph (A) is reinserted in the file, the consumer reporting agency shall notify the consumer of the reinsertion in writing not later than 5 business days after the reinsertion or, if authorized by the consumer for that purpose, by any other means available to the agency. I never received notice of a "reinsertion." My belief is this is a reinsertion, as it shows similar account details that I disputed 4 years ago, and an alleged creditor's new name. However, the credit bureau is likely looking at as a new party, therefore a new entry is appropriate in their eyes. How would you go about disputing this, as a "reinsertion" - or......?

I am in a dispute with one of the three major credit bureaus. In my research for case law and supporting documentation for what I believe are numerous FCRA violations, I came across this very helpful report from the National Consumer Law Center entitled: "Automated Injustice: How A Mechanized Dispute System Frustrates Consumers Seeking To Fix Errors In Their Credit Reports." The report breaks down the process by which Experian, Equifax and TransUnion handles consumer disputes for investigation or re-investigation, how and where they outsource the process to, the automated systems involved, non compliance issues with the FCRA, how banks largely parrot the credit bureaus poor process with a similar if not identical process thereby gaming a broken system, numerous case law examples, deposition testimony, and Congressional testimony that support the report's conclusions. I thought I would post and hope it provides useful info for others. Please see: http://www.nclc.org/images/pdf/pr-reports/report-automated_injustice.pdf Also see: www.consumerlaw.org Comments and thoughts are most welcome!

I am sending a pre-suit demand letter to a Bank for damage to my credit standing. The item they are reporting should not be on my credit report at all. Multiple written demands to correct the problem were ignored. They have no proof to back up their reporting, the error is theirs, and the damage prevented me from being approved for credit cards. The incorrect reporting continues. I have two questions about how to value my damages. First, it is my understanding that FCRA damages are $1,000 per instance. Are they stackable? I have read conflicting comments on this, so if anyone can clarify it would be very helpful. I'd like to include a punitive damage demand in my letter. The amount I have in mind is $2500 per instance of denied credit. I choose this amount because its equal to the civil fine amount the FTC can levy, and an amount low enough to open up a pre-suit discussion and correction of the overall problem. Any thoughts on how to value this aspect of my damages? Thanks for any feedback you can offer!

Hi, I have been disputing multiple erroneous items with two of the CRA's for quite some time. The really bad actor of the bunch is Experian, who refuses to correct what are true errors and were properly disputed by me, with proof of the facts and the dispute letters saved in my files. I'm at the point of preparing either a lawsuit, or I may invoke arbitration using an online agreement from one of their websites. My next step is either an Intent to Sue letter, or Arbitration demand. I'd like to form a basic valuation of damages at this point, and know that the general statutory penalty for violating the FCRA is $1000 per violation. However, I am uncertain how to approach potential punitive damages. For example, a CRA refuses to investigate or remove a blatant error on a consumer credit report. Consumer then applies for credit and it denied, with the denial attributable to the error. Will the credit denial have a separate value (other than statutory) when calculating damages? Thank you.

For the record. This is not whining. This is an attempt to motivate and point out the importance of participation. A few days ago I posted a link to the white house web site where a petition has been filed to Amend the Fair Credit Reporting Act. http://wh.gov/VA84 299 of you viewed it thus far. Forum admin signed and posted to Facebook which was wonderful. A few others of you signed it. Roughly 280+ of you read the post and did not sign the petition. If you want to effect change you have to participate in that process instead of just coming here to complain about it. If all of you singed it we would be in the 2nd rotation of getting an official response and moving it to the Sub Committee on Banking and Insurance. We have missed 280+ chances. If you want the law to work better for you, you need to help the cause. Please go to the petition site (link above). Create a log in in the White House site. (trust me they won't bother you with email or anything else) and sign the petition. Once we reach critical mass we can discuss here how best to fill it out to effect the maximum benefit for All Americans now and in the future. C'mon, Get in the game!

We spend a great deal of time on this forum discussing these issues. Now it's time to do something to improve the law and make it fair for all. YOU CAN HELP!! Amend The Fair Credit Reporting Act This link goes to a petition on the white house web site. I urge you to click and sign the petition as well as "like" it, Tweet it and or send to anyone you can so we get enough signatures to make it happen. http://wh.gov/VA84 May The Schwartz Be With Us!!

Hi, I was reading over multiple threads while preparing a Fair Credit Reporting Act dispute. I see how numerous board members approached the issue, but since everyone's problem tends to be slightly different, their complaints are, as well. I was wondering if anyone has developed a "FCRA violation checklist" that may be helpful as a reference guide to filing a lawsuit, arbitration, or other FCRA dispute. Thanks!