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dannyj

I sued First Premier Bank

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I went ahead and sued First Premier Bank, (It's the last baddie on my report) with an offer to settle for deletion of the paying history. They said they will stick to their guns and not remove the apying history. I hope they cave in before trial. I actually have them on several FCRA violations, but the thought of having to go to court is somewhat daunting.

Any advise on how to get them to cave in early?

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I went ahead and sued First Premier Bank, (It's the last baddie on my report) with an offer to settle for deletion of the paying history. They said they will stick to their guns and not remove the apying history. I hope they cave in before trial. I actually have them on several FCRA violations, but the thought of having to go to court is somewhat daunting.

Any advise on how to get them to cave in early?

Stick to your guns. If you go them they will break. The only problem is see is that you might be asking them to do something illegal ( or at least they consider it illegal or will make seem it is illegal) to report something that is not true. If you can prove that they are reporting incorrect information then you have leverage to make them report correct information or pay you for damages. But, if you are asking them to report something that can be PROVEN that it is inncorrect then by them sticking to their guns they my be on the right side of the LAW.

... just my opinion

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I am still a newbie so for clarity purposes I wanted to make sure I read the law correctly. I thought I understood it to state that IF something is reported then it MUST be 100% accurate. I didn't see anything that stated every tradeline must be reported. To sum it up, report or don't report but if you DO report then report correctly.

If I understood correctly then can it be illegal to offer to make a deal to drop your cause of action under the FDCPA/FCRA/FCBA if an OC or CA will drop the reporting? Thanks to all in advance! :)

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I am still a newbie so for clarity purposes I wanted to make sure I read the law correctly. I thought I understood it to state that IF something is reported then it MUST be 100% accurate. I didn't see anything that stated every tradeline must be reported. To sum it up, report or don't report but if you DO report then report correctly.

If I understood correctly then can it be illegal to offer to make a deal to drop your cause of action under the FDCPA/FCRA/FCBA if an OC or CA will drop the reporting? Thanks to all in advance! :)

You are correct, creditors are not required to report anything to anyone. If they want they can quit reporting on a tradeline, delete it, etc. However, as you stated, if they do choose to report it then they must ensure its accuracy. Thus, asking for deletion is within the law, albeit possibly not their own policies.

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That is key, about it being in their policy, they are strongly warned about this issue of deleting information by the CRAs, I do think the FTC can nail a creditor that is obvious to deleting for negotiating. I have been told this my direction that they can be hurt for this practice. So some will be harder then others to go this route.

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Question: If it their right to report or not report, can't we change the language a little and ask them to just never REPORT it again? I can't believe that would be illegal since they are the ones who pay to have the service in the first place.

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Question: If it their right to report or not report, can't we change the language a little and ask them to just never REPORT it again? I can't believe that would be illegal since they are the ones who pay to have the service in the first place.

Yes, but the integrity of the service is dependent on all accounts from the creditors being reported. If creditor A does not report on a consumer, especially if it is a negative tradeline, and creditor B extends this consumer credit based on this non-reporting, then creditor B will have a high-risk customer that they are unaware of and will blame, in part, the credit reporting agency. Thus, in order for the system to work the creditors and credit reporting agencies want every possible account reported accurately as possible, if they are not being lazy that is.

The OC could send you a letter saying that it will no longer be reporting the account. You could forward it to the CRAs and see if that is good enough for deletion. Often times when an account is closed with a zero balance the OCs will eventually quit reporting it as there is no longer a reason to. However, the CRA may delete the tradeline based on the letter. Therefore, there is no quid pro quo, per se, regarding the deletion in exchange for payment. The fact that they will no longer be reporting the account is just that, a fact.

That being said, I will continue seeking deletion of my negative tradelines and getting the errors fixed. ;)

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Thanks MD, and for the record I agree, in theory, with what you are saying.

How many of our reports match up exactly? Some creditors report to all three, some to only report to one. For example, my FICO on EQ is 711 (after my first round of disputes). The other two, well, let's just say they aren't even close. I just bought a vehicle based on my EQ. If they would have pulled the others, I very seriuosly doubt I would have gotten it.

My point is, Creditor B (from your example) is NEVER going to have ALL of the information about his customer if he is only pulling one CR.

So I don't see a reason not to make the deal that if I dispute your TL, Mr CA, then you just don't respond, OK? ou also promise to not report it ever again.

Most of the account that we talk about here on this board are old anyway (at least past the SOL), so there isn't any reason to keep them on file.

I hope I made sense with this.

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Lack of reporting to all 3 CRAs I have found to be due to ignorance on the creditors part, just not seeing the whole picture of how they fit in. So they will just go with which ever CRAs have solicited him directly for their business on reporting data. Like in this area Experian & TransUnion work hard to get customers, Equifax though, does not have a local rep, letting these businesses know they can report to them also or working them for reporting.

And you sure well bet that EX & TU Reps are not going to correct the creditor on this oversight, since they solely want their business and to keep the profits to themselves. Should they make the creditor aware of their competitor, then if they go to reporting, they run the risk of them switching also on pulling credit reports from theses other 2 CRAs. They don't want to, so they will keep the creditor ignorant!

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