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Hear-say...? Or Fact...?


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So today I'm on the phone with a manger for XYZ Company and he tells me.

XYZ:"No, just because the letter we sent you says that we are deleting Equifax, doesn't mean that you shouldn't send it to Experian too. You don't need a letter specifically for them...they ALL share account information anyway."

ME: No way...

XYZ: "Yes that’s how I learned it. Its certain trade lines that they will share. But Experian will accept the letter. They most likely got the account and information from Equifax. Have you tried disputing it?"

ME: "Yes 4 times, each time has come back verified."

XYZ: "Hmm..thats odd"

WTF? Ok first.

1 -Sharing information?

2 -letter for experian to equifax..will that work or is he full of it. I've been told by EX before that just because another CRA removes something they don't have to. I'm concerned that since my letter only states Equifax, if EX will just say "Too bad, So sad".

Thoughts...

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I know they have to be subed to them to add BUT what I'm wondering is do the CRA's SHARE info amongst themselves....

Also (re-affirming a reply that I gave to another post) am I correct that EX or TU will delete the entry based on the letter referencing with it the EQ entry?

[Edit by kimber6337 on Tuesday, February 11, 2003 @ 08:16 PM]

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There is only one special occassion that I am aware of that the CRAs can share information among each other.

It is a service called by different names Equifax calls their (Rapid Rescoring). Our office being a mortgage credit report reseller - can offer this service to the banks but comes at a HIGH price.

What happens is a consumer wants to dispute incorrect information immediately. So I will investigate (has to be letter headed forms specifically from the creditors) I will forward these to in this case CSC (They will reinvestigate my findings) after this they will forward information to the other CRAs that where reporting the information to begain with.

Everyone will do their modifications and report back to CSC, once they have the go, they will inform me that the bank can repull a new mortgage report (With SCORES re-adjuested).

Only thing out there at this time - but the CRA has had to already had the info to begin with.

ALSO - This process will be done within 5 to 7 days compared to the consumer taking 30 days to hear back just from one CRA.

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OK, so I doubt that is the situation here. A 100$ paid collection doesn't warrant such efforts for daily reporting...

Still need to know:

Also (re-affirming a reply that I gave to another post) am I correct that EX or TU will delete the entry based on the letter referencing with it the EQ entry?

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The next thing to check is the relationship between the letter and the said accounts reported by the other two.

Open Date - Matching

Account # - Matching

High Credit / Balance - Similar

If you can show the relationship - they should have no trouble honoring your request to remove the tradeline.

Would speed things up, by getting access to customer service - call in with request to fax information (at least to TransUnion, since Experian will only take mail disputes).

When I deal with the CRA - like to speak directly with them - and fax information at the same time. That way you get an idea of how the person handling your case is. Makes things so much friendlier and personal when they have to speak to you.

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Ok - In your 1st letter to TransUnion be sure to copy both TransUnions & Equifax tradelines side by side, highlight the exact matches and ask them to honor the letter to delete.

Same with letter to Experian copy both Experian & Equifax tradelines side by side, highlight the exact matches and ask them to honor the letter to delete.

If you are cleaning up for the prospect to apply for mortgage loan, be sure to tell them you need rush processing ASAP for Mortgage Loan.

Would even send it out priority mail - they should have no problem with updating with the of the Creditors Letter included.

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