payinbills Posted February 27, 2005 Report Share Posted February 27, 2005 I understand that a tactic for getting negative trade lines off your credit report is to dispute, and hope they don't get varified.Is this ethical. I ask because my goal is to get my credit the best shape I can to apply for a home loan, and would not want anything negative to happen for pretending the account is not mine.Am I being paranoid? Is this common practice? I'm supposed to dispute an account that I paid off last month?Thanks for your input.Payinbills! Link to comment Share on other sites More sharing options...
DocDon Posted February 27, 2005 Report Share Posted February 27, 2005 You're not "pretending" anything. No matter what you write as a reason for the dispute, it is put into a handy 2-digit code and in most cases shipped offshore where the actual verification process takes place.I don't suggest using "not mine" as a dispute, but it is one of the ones listed to use that comes closest to "no knowledge of this account" or "I do not recall doing business with this company".... Link to comment Share on other sites More sharing options...
KentWA Posted February 27, 2005 Report Share Posted February 27, 2005 Like DocDon says, they offer that right up front as a check box. If they had a box that said "I am not really sure if this is my account or not", then I would use that check box.I just wish they would put one on there that said "I want to catch this dumb CA in Violations" Link to comment Share on other sites More sharing options...
creditdodger Posted February 27, 2005 Report Share Posted February 27, 2005 Payinbills wrote: Is this ethical?If only creditors sat around and asked this question.... Link to comment Share on other sites More sharing options...
Sultan Posted February 27, 2005 Report Share Posted February 27, 2005 Um.. yeah no doubt,NEVER EVER - EVER feel guilt for the bottom feeder, pond scum who make a living by ruining other peoples lives, livelihood, financial good standing, and well-being instead of going out and earning income and creating new money and a healthy economy.How many times has the lame consumer paid for goods or services that were not delivered as promised or expected and just layed down to it? maybe even allowed something to go to collections on principle...because you know it was a BS or an inflated charge....Then there are the debts which are truly owed and collection agencies do obviously have their place, but they have learned to capitalize on other less savvy folks, and such. So deal with it accordingly and appropriately.As the old saying goes 2 can play at that game. - put it back on them when the shoe fits. Link to comment Share on other sites More sharing options...
headache Posted February 27, 2005 Report Share Posted February 27, 2005 Have you checked your credit report yet? I felt the same way at first, I knew I had several accounts I didn't pay and that was my fault. But when I checked my credit report I was shocked to find it was full of errors.A car loan that had been charged off was listed 3 times as a charge off, each with a different balance.I saw several collection agencies with accounts that I have never heard of. Some of accounts had several collection agencies listed for them. When you try to contact these CA's (I mean you atleast want to make sure they are listing the correct balance) you find out they have no real info on the account.And there were several duplicate listingsI actually owed like $5,000 but PG listed my balance as $20,000And my husband is a JR and his dad has bad credit also, so his credit was awful. There were about 10 accounts of his fathers on there.So once you look at your credit report and start dealing with these collection agencies your guilt will go away! Link to comment Share on other sites More sharing options...
miracle Posted February 27, 2005 Report Share Posted February 27, 2005 Unethical? No. It is not unethical. It is the duty of the CA and the CRA to report the info on your report correctly, with no errors. If anyone is unethical... it is them! They very rarely do what they are supposed to do as far as law goes. So, to ask that your report is correct as required by law is not unethical or wrong in anyway. This is all you are doing. Link to comment Share on other sites More sharing options...
Corrine Posted February 27, 2005 Report Share Posted February 27, 2005 actually owed like $5,000 but PG listed my balance as $20,000 I had the same problem but I was told the highest balance due (total loan value) would always show rather than the remainder of the balance due. For mortgage application purposes I had to get a statement from the bank that held the car loan that the car is almost paid off and that the balance actually due is less than $1k. Woo Hoo!!! Car will be paid off in June with only three payments to go!!! Link to comment Share on other sites More sharing options...
DocDon Posted February 28, 2005 Report Share Posted February 28, 2005 Unethical? No. It is not unethical. It is the duty of the CA and the CRA to report the info on your report correctly, with no errors. If anyone is unethical... it is them! They very rarely do what they are supposed to do as far as law goes. So, to ask that your report is correct as required by law is not unethical or wrong in anyway. This is all you are doing.Yes. Let's take that point further.The CRA's do not respond to procedural requests as they are supposed to under the FCRA.The CRA's do not (at least I've never had it happen) insert your "100 word explanation" when you submit it per the FCRA.The CRA's mimic what is regurtitated to them and consider it a thorough investigation, when in fact it is not.The CRA's refuse to investigate inquiries even though the FCRA states you can dispute ANY information contained in your credit files.The CRA's take your dispute, throw out any supporting documentation (which they ASK FOR), and ship it offsite (even overseas) in a handy 2-digit code which is supposed to be interpreted by an individual who may not have a firm grasp of the English language.The CRA's use stall tactics up to and including sending letters stating you are a "credit repair agency" (which isn't illegal to use in and of itself).The CRA's idea of "frivolous" is only based on how many times you dispute the information - not whether there is a serious issue with their procedures. Incorrect information could be coming back verified, and they will flat out refuse to investigate it, even with supporting documentation you provide.Ethical?The list goes on....... Link to comment Share on other sites More sharing options...
miracle Posted February 28, 2005 Report Share Posted February 28, 2005 Very well put Doc! He is soooooo right! Link to comment Share on other sites More sharing options...
workinninetofive Posted February 28, 2005 Report Share Posted February 28, 2005 Yes he is. In a nutshell, they can make or break your life. Link to comment Share on other sites More sharing options...
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