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Providian Charge-Off


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Need help..... Sent the following letter to Providian. They sent me a letter back stating that their records are correct, therefore, they would not change any information with the CRA. They also said if I thought this info was incorrect, to notify the CRA in writing and dispute.

The letter I wrote:

To whom it may concern, after I attempted to apply for a line of credit at a local bank, I was rejected due to a “charge-off” listed on my credit report by Providian. I obtained a copy of my credit report online from EquiFax. After reviewing the report, I called Providian’s customer service department and spoke with a CSR about my reported credit history. My dispute of the listing was based on the following:

1) The agreement when I paid the amount owed was for the status to be listed as “PAID”, not as a “Charge-off”, which is how it is now listed.

2) The CSR informed me during the course of our conversation that your policy is to list items as “Charge-offs” after 210 days of non-payment. My account never got to 210 days of nonpayment as reflected on my credit report.

3) Noncompliance to Sections 605, 611, and 623 of the Fair Credit Reporting Act

Base on the above items, my credit report is inaccurate, which has caused me to be rejected for a $125,000 line of credit on my home. Based on my knowledge of credit reporting, I understand that a “charge-off” means that Providian could potentially come after me for money owed. I don’t owe Providian any money. I paid it off.

According to the Fair Credit Reporting Act, Providian has the responsibility of reporting credit and credit status accurately and timely. Please review the copy of my attached credit report that I ran in January 2005 and comply to all appropriate regulations.


Advice on next steps?

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