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CRA's still have incorrect info!!


jimsbobbet
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Okay here is the 411.. I recently settled a large outstanding debt with CitiCard (it went to mediation). The result was the balance was paid (albeit at a 30% discount), but the amount paid was agreed to be considered full payment by both sides, and the judge also signed off on it. Now I have pulled my annual credit reports, and the balance I owed is showing as half of the original balance.

I am getting a copy of the settlement agreement from the court house (my copy was never notorized), and a letter from the attorney that represented CitiCard in the case.

My question is, should I send copies of both to the CRA's along with a dispute letter, or just dispute the entry, and then sue the bastards for violating the fair credit reporting act, when they fail to remove the entry?

Jim

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CRAs can only go by what the creditor provides them to report. Although not always accurate.

Sounds to me Citicard did not do their part by reporting this correctly, but just in case they did and the CRAs are the ones in the wrong;

Dispute as incorrect and possibly get the TL deleted alltogether when Citicard does not respond to the CRAs (depending on how old the TL is, it could drop your overall score nonetheless).

Or wait till you get the documents you need, send them to the CRAs to have them correct the TL, then if they come back saying otherwise, you have something solid to use against them.

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  • 7 months later...

To take Jim's question one step further, I negotiated settlements and all but one have been reported correctly on my reports - well, actually even that one is being reported correctly at 2 agencies... Experian, however, is not reporting my Spiegel settlement correctly. They are still showing it as a charge off with an open balance. The other CRAs have changed it to reflect the correct info. I have challenged 3 times with Experian and I keep getting the same response, that the information "Remains". I have contacted Spiegel and was told that they show my account as settled with a zero balance due. When I look at Experian's report it appears as though they have not even rechecked my account since May - last challenge was the end of August. What is my next step? Should I threaten to file a suit?

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