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Equifax reporting question


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Gotta an odd one for you guys. I've got three TLs on EQ that are reporting oddly (to me.) They are all three paid collections and the reporting status shows as paid in the main body of the TL. HOWEVER, in the bottom section of the TL (but not in the additional comments) it shows current status as "120 days past due." I called and was told that is how collections will report and they would not touch the TL. My fear is that the FIKO score may be tied to that 120 day late comment. (The TC FAKO seems to be hitting the floor because of this issue since EQ is the only CRA doing this and my EQ FAKO is 100 lower than the other two with these 3 TLs being listed a currently dilenquent.)

Does anyone know if this is the correct way to report this TL? How does the FICO score read this TL. (I can post a graphic of the TL if this is confusing to some.)

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I took the big jump and just called one of the bureaus, I used equifax and went over each and every account and found out what the first date of deliquency was, noted it on my copy of my credit report (not he original) and that way I can watch what is going on and can see how it changes on all the bureaus, or should be updated anyway.

I just happened to find the list on here of all the bureaus and the phone numbers and kept going down each and every one until I got a person on the phone. He just happened to be very nice. I was very scared about taking that leap but it turned out not to be so bad after all and also gave me a little more leverage with the OC's and CA's at the same time.

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The status should read "paid collection/chargeoff." If it is paid, then there is no other acceptable notation for status.

The CRAs will only parrot what the furnisher tells them. I know the law says they can't, but they DO.

So here is your process:

Dispute the accuracy of the tradeline with the CRA. Wait out the 30-45 day process. If it comes back verified, sit on that little nugget for a while. You have 2 years under the law to deal with the CRA, but you won't need all that time. If it is fixed, you're done. Keep an eye on it periodically to make sure it doesn't change back. Keep everything in a file.

If verified, your next step is to dispute the inaccuracy directly with the furnisher; the collection agency. They will probably ignore you until you take the next step.

Sue the collection agency for violations of the FDCPA and FCRA. The FCRA is for reporting inaccurate information to your detriment. The FDCPA is for failing to abide by the section that requires them to not use deceptive practices or retalitory actions.

If it has gone this far, you will probably win a lawsuit or settle with the collector. Now you have ammunition against the CRA (and probably some cash settlement). With proof in hand that the tradeline was inaccurate via judgment or settlement on the collector, sue the CRA for failing to properly investigate your claim. This will get your information corrected and probably a cash settlement or judgment against the CRA.

Unfortunately this is the only process the CRAs understand when they won't listen to reason.

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