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For those who feel guilty about saying "not mine"


BrassFan
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I've seen a couple of people make comments that they don't feel comfortable saying "not mine" in disputing accounts. After all, they do owe that company money, right? So...isn't it wrong to say the account isn't mine?

Well, look at this. I have an account with Best Buy. Here is how it is reported to the credit bureaus:

EQ: Limit $706, Status As Agreed, Prior Delinquency 1/03

EX: Limit $706, Status Cur Was 60, Prior Delinquency 12/02

TU: Limit $700, Status Paid As Agree, Prior Delinquency 1/03

Well..if they're reporting things accurately, as the law requires...then obviously those 3 accounts can't all be mine, can they? The Balances are different, The Status is different, the delinquencies are different.

So, when I dispute it (assuming they reject my offer of settlement) I'll dispute it as not mine. If they come back as verified, then I'll send BB a letter demanding documentation so that I can verify for myself which report is correct. If they can't validate it....Then, I'll demand they delete it (or update it as Paid As Agreed-Never Late).

So, look at the reports, and if the 3 reports don't agree (and not a single one of my accounts does), then they are reporting something incorrect, and it might be that they are reporting someone else's report as yours.

In effect, you aren't saying, "I don't owe these people money." You're saying that the information they are reporting isn't for an account you own.

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That is so true,

And,

It's a FEDERAL OFFENSE to report "INCORRECT INFORMATION"

Read

Section 11 of the FCRA

Section 23 of the FCRA

There is also a section which says its a $1,000 fine for every infraction,

Read the FCRA, its alot of reading but it will help you.

... A mechanism that the Government has put in to protect your credit worthiness!

anything that doesn't adhere to that ACT is not yours.

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If the bureaus report on different days that don't correlate with your OC statement date, you’re going to show different info. This is not that big a deal, and don’t let anyone tell you otherwise. If there is a large discrepancy, it would be another story. $6 is nothing to worked up over.

You don’t want to go for a deletion of the tradeline. What you want is to have the history reported as “paid as agreed / never late”. This is a simple issue of a couple late payments, not a charge off or collection. If you delete this entire account, you’re score will go down because the account is now gone.

When you dispute the negative history with the CRAs, also write to Household Bank (SB) N.A., which issues the Best Buy card, and state, “there was a mistake discovered in the reporting of late payment activity on this account with Equifax. I was told by your representatives that the information would be updated with all repositories within 90 days. As of this date, this update has not occurred. Please resend the updated information outlining removal of negative information and correct account balance to all three reporting agencies to eliminate any further discrepancies.” Keep at them until it's updated.

Trust me on this. I had a 8 year account deleted because I disputed one 30 day late payment with the CRA instead of the OC. The tradeline was deleted, and I can't have it reinserted. I would rather of shown 95 out of 96 payments were received on time, than risking the entire deletion of the tradeline.

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<blockquote>Originally posted by DocDon

If the bureaus report on different days that don't correlate with your OC statement date, you’re going to show different info. This is not that big a deal, and don’t let anyone tell you otherwise. If there is a large discrepancy, it would be another story. $6 is nothing to worked up over.

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Gotcha. It's sometimes difficult to interpret the exact meaning when looking at a bunch of text. I could have misread something since I'm stuffing my face and surfing at the same time.

I've had good luck with that tactic, especially if one report shows better than the other two.

Good luck!

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Once you give up integrity, the rest is a piece of cake... J.R. Ewing of Dallas

Once you get past the easy stuff, like saying "not mine", then telling a whopper does become a piece of cake.

Often times, the "not mine" technique will not work but by then, you will be able to lie through your teeth without blinking an eye.

And then "Omission" of truth will be even easier. Like, "yeah, go ahead and prove to me that I owe you this debt. That computerized print out don't mean jack unless you can give me a copy of an instrument bearing my signature".

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<blockquote>Originally posted by ADSOFT

Just got done reading the article suggested by Calawyer.

That article definatly confirms that "Not Mine" is the appropriate answer, a must for anybody trying to clean their credit!!!

On a scale of 1-10, 10++

ADSOFT

</blockquote>

Can you post a link to the article?

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I'm glad this was brought up, especially since I did see someone on this board once go off on the "not mine" dispute once and I wanted to explain my position to that person. Unfortunately I don't remember where I saw it or who posted it (don't feel like looking for it right now LOL, too tired) but I'm going to throw in my two cents here.

At this point, I am roughly within a year to 18 months of having like 90% of my derogs fall off. So why am I going to try and get it off now, possibly get away from paying some of them? Because of the sacrifices DH and I have had to make in the past 7 years. I feel like if I were able to sue over our own losses, sacrifices, and emotional distress that any amount we do walk away from is like our settlement. One thing I have to say in my own defense about this justification of mine is that DH and I are honest people. I can't tell you how much we both value honesty and hold ourselves to high standards. We never wanted to get away from our debts. But we've been slaving away at the mistakes we made before we knew better this entire time, paid many accounts off or settled them, only to see virtually no progress in our credit history. And now we NEED to get our own house, for a laundry list of reasons. For us, we've literally had to put our future on hold to resolve this mess, and I say the wait is up. For the debts we owe that won't get paid, I'd be happy to pay them if it mattered. But I'm not going to feel too guilty if some never get their money. There are no victims. Businesses loose money, they write it off. We live in a society that keeps us debt riden and is built up in a way that you must have credit cards. I see "not mine" if it works, as time off for good behavior.

This experience hasn't been all bad though, we're both under 30 and this has completely opened our eyes about financial responsiblity and credit awareness. And of course, I believe whatever doesn't kill you makes you stronger. We've strengthened our muscles through this experience.

(LOL I hear a bankruptcy commerical playing behind me right now)

By the way, I also agree with the responses above, if any info is incorrect, in my case that is almost everything, or at the very least it is misleading about our willingness to pay, then I see that as completley reasonable to say "not mine."

:) just my opinion.

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<blockquote>Originally posted by ADSOFT

Just got done reading the article suggested by Calawyer.

That article definatly confirms that "Not Mine" is the appropriate answer, a must for anybody trying to clean their credit!!!

On a scale of 1-10, 10++

ADSOFT

</blockquote>

Disputing a couple late pays by saying "not mine" such as in this situation could lead to the following scenarios:

1)if the account is still active, the info could be reinserted by the next auto-update after deletion. Sure, they have to notify you, but you've wasted your time.

2)the entire account could be permanently deleted, which is not exactly what you want done if you have any kind of a history with this account. You end up with a lower FICO, and if it was one of your longer accounts, you've lost valuable history.

3)"not mine" could result in the info coming back "verified", since you're not disputing the late pays. If they're on the ball, you've just wasted your time again.

I completely agree with you that "not mine" is a good route when you're faced with serious derogatoriness, but why not go after what you really need in a situation like this? The length of time the account was open, and update of negative info to read "paid on time/never late"?

Like I said, it's better to show 95 of 96 payments on time, and work to have the late pays removed than to completely delete an 8 year old account. Not to mention, some creditors won't even consider a late payment into the equation if there is a quality length of positive history since the derog.

There is no single magic bullet for fixing your credit. You have to use discretion, and use the proper approach for each individual situation.

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You're correct in all your points, and I agree with you 100%. I was simply saying you have to consider what you want to have happen. If you want to delete an account for a couple late pays, that's completely up to you, but be aware that different things could happen depending on how you go about it, and what the outcome is.

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BrassFan,

<blockquote>

-Original Quote:

3)"not mine" could result in the info coming back "verified", since you're not disputing the late pays. If they're on the ball, you've just wasted your time again.

-End Original Quote:

True...but again, you haven't wasted that much time. And, you need to do this before you get them to validate the debt with you. </blockquote>

I hate to sound like a noob, but, Why do you say you "need" to do this before you can validate the debt? I've only been on this forum for less than a week, but I've done lots of reading, and this is the first I've read on this.

Thanks,

- Jazkal

[Edit by Jazkal on Saturday, May 17, 2003 @ 06:19 AM]

[Edit by Jazkal on Saturday, May 17, 2003 @ 06:20 AM]

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<blockquote>Originally posted by Jazkal

I hate to sound like a noob, but, Why do you say you "need" to do this before you can validate the debt? I've only been on this forum for less than a week, but I've done lots of reading, and this is the first I've read on this.</blockquote>

I guess you could validate it first, or at the same time. But, if it's a small company, and you validate it first. They might dig thru their archives, and send you some information.

Then, you go to dispute it..the CRA contacts the creditor..and lo and behold..your file is still sitting there on the desk. Poof...it's been validated and verified.

If you dispute first, the person who receives it at the OC might simply say, "This account is too old for me to bother with researching...so I'll just ignore the letter." and poof...it's gone.

As for being a noob...I haven't been working on my credit for that long....I've only been doing this for a month and a half or so...

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<blockquote>Originally posted by cleancreditby04

<blockquote>Originally posted by ADSOFT

Just got done reading the article suggested by Calawyer.

That article definatly confirms that "Not Mine" is the appropriate answer, a must for anybody trying to clean their credit!!!

On a scale of 1-10, 10++

ADSOFT

</blockquote>

Can you post a link to the article?

</blockquote>

http://www.ctnow.com/news/custom/newsat3/hc-creditmess.artmay11,0,475206.story?coll=hc%2Dheadlines%2Dnewsat3

I encourge READERS to give their opinior below.

[Edit by ADSOFT on Tuesday, May 20, 2003 @ 08:17 AM]

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I don't have a problem with anyone disputing as "not mine" something they believe has been reported incorrectly or has the possibility of not being theirs. For myself, I couldn't in good conscience dispute an item as "not mine" which was reported correctly and I knew to be mine. For me ... and this is for ME only ... I am not making judgments ... I couldn't sleep at night if I did it any other way.

I work for a large Fortune 500 company and we only get a tax break on so much bad debt write off. The rest is passed on to the consumer. As I've said before, though, I do have a problem with the "easy credit" come-ons and the teeny-tiny print in credit contracts which explains how once you fall behind in payments the cycle of higher and higher interest/penalties/late fees begins, making it almost impossible to climb out of the downward debt spiral.

[Edit by breathing_easier on Monday, May 19, 2003 @ 02:32 PM]

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<blockquote>Originally posted by breathing_easier

For myself, I couldn't in good conscience dispute an item as "not mine" which was reported correctly and I knew to be mine.

</blockquote>

I have to agree with breathing_easier. I was fortunate enough last year to find a new job making a much better salary. I have been working hard these past months to pay off some of accounts listed on my report. It hasn't really improved my credit but I feel better. Catch 22, huh?

None of the accounts which I paid off would have been dropped any time soon from my report. After reading through posts on this board, though, I decided to wait out two of them as they will have to be dropped in July. At that time, I will be very close to becoming essentially debt-free so probably not credit worthy. The only credit cards I use are my debit card and a prepaid MasterCard (take that you bloodsuckers!)

Finding this board has been a blessing...love hearing all the secrets and tricks! :D

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<blockquote>Originally posted by Susan811

<blockquote>Originally posted by breathing_easier

For myself, I couldn't in good conscience dispute an item as "not mine" which was reported correctly and I knew to be mine.

</blockquote>

I have to agree with breathing_easier. The only credit cards I use are my debit card and a prepaid MasterCard (take that you bloodsuckers!)

</blockquote>

LMAO @ debit and prepaid.......I do the exact same thing. It fills good to pay everything in cash though, even if it's through a debit card, at least you know you don't have to pay on it. But I had trouble renting cars with my debit, so I got the Mastercard prepaid....but I heard some Rental car places are becoming hip to that too and not accepting them either, but no problems here so far.

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§ 611. Procedure in case of disputed accuracy [15 U.S.C. § 1681i]

(a) Reinvestigations of disputed information.

(1) Reinvestigation required.

(A) In general. If the completeness or accuracy of any item of information contained in a consumer's file at a consumer reporting agency is disputed by the consumer and the consumer notifies the agency directly of such dispute, the agency shall reinvestigate free of charge and record the current status of the disputed information, or delete the item from the file in accordance with paragraph (5), before the end of the 30-day period beginning on the date on which the agency receives the notice of the dispute from the consumer.

Basically, what Brassfan is saying is that the FCRA allows you to dispute anything that is not accurate, read for yourself "In general. If the completeness or accuracy of any item of information contained in a consumer's file at a consumer ...".

Also there are some there are some dishonest bill collectors out there and FCRA deals with those guys this way, :

§ 623. Responsibilities of furnishers of information to consumer reporting agencies [15 U.S.C. § 1681s-2]

(a) Duty of furnishers of information to provide accurate information.

(1) Prohibition.

(A) Reporting information with actual knowledge of errors. A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or consciously avoids knowing that the information is inaccurate.

But, most importantly, I you make an agreement to buy something for $100 and they hand you a bill for $200.00, what are you going to say: "HEY, That's not my bill, my bill is for $100".

I think you all get the point.

You best defense in getting things off your report that you feel you are not responsible for is "not mine", and when you start getting in the FDCPA and how it specifies the proper procedures for validation you will see there is a lot of truth to the "not mine" dispute.

ADSOFT

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