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lates/charge off


Sean L.
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Hi, everyone

This board has been great'

Question #1

I had a car loan with bank of america. I paid the loan off on 3/2004. The trade line shows 19 late payments on all three report. Each report had lated payments on different months. I called bank of america(09/2005) and advised them of the issue, they said they would remove the payment, because she could only see have the account. she said some of the records were deleted. She was going to submit a request and research what she could see. I asked her to send me a copy of the request, never received it. I also had some late payments showing for several months in 2005. On 11/2005 I disputed every single late payment. Transunion removed them all (good). EQ removed all except 5 lates payment on new dates I did not dispute because they were not on the EQ report. EX sent a response that they would conclude their investigation with in the 30 day to 45 day time period do to the request of a annual free report.

What do I do now????

should i try a good will letter with BOA

Question Number #2

I have a TL from a Credit union for an account i had when I was in college. I moved and they say they sent letter for a account overdraft of 124.00. They charged it off. It was paid in 08/2002. The TL has $0 for the amount. I have a letter from the bank that says I do not owe them any money all debts have been paid. I disputed on 07/2005. it was removed from my EQ report. But it was verified with TU and EX. I ask for a reinvestigation and disputed the account and the charge off itself. It was verified again. Should I try to send a good will letter to the credit union. Also does anyone have a good example of a good will letter.

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For Question One; I'd concentrate on getting the bank to verify exactly what payments, if any, were late and make sure you agree with their findings. With that in hand, I'd then make sure that each of the three bureaus either properly and correctly reflect the late payments in the right months OR remove the entry completely.

It will take some time and effort but eventually you shoudl be able to get at least that far.

As to the second question; unless I'm misunderstanding something, it sounds to me as if the entry is essentially correct...you had a debt that was paid off (leaving a zero balance)...if that's what the bureaus are showing then I don't quite understand the basis for your disputing??? If you are simply trying to get the negative info removed then you can keep disputing but if the information is essentially correct then you may just have to live with it until it drops off from age.

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You need to dispute directly with BofA. Compose a letter that states you do not recall being late with your account and are quite confused as to what they are reporting. You are requesting they pull your file and assure you that what is being reported is correct, and, if they can't, they must delete. What could happen is they will correct it accordingly, which would represent the exact lates. Sometimes, they just delete if a closed account as they do not want to research purged records. It depends on who opens your letter.

Don't dispute with the CRA's anymore as the OC could reverify any already deleted, which means you have to rely on the CRA not notifying you properly. Whereas, if dealing directly with the OC, you stand a better chance. Remember, if you don't agree with their findings, you can dispute again.

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For Question One; I'd concentrate on getting the bank to verify exactly what payments, if any, were late and make sure you agree with their findings. With that in hand, I'd then make sure that each of the three bureaus either properly and correctly reflect the late payments in the right months OR remove the entry completely.

It will take some time and effort but eventually you shoudl be able to get at least that far.

Robert is definitely right... It will take time and effort but it is very important that everything gets verified correctly and if they are not accurate, then it has to get deleted.

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