Need reassurance over DV letter to Citi

[cakelover]

Just sent a sort of debt validation letter to Citibank as I have a gazillion lates up to 150 days - gulp - from years ago and some quite recently. Figured a goodwill letter wasn't going to work given the severity.

I bascially told then that I pulled my credit reports and their reporting over the years was incorrect based on my bank statements/old credit reports etc.

Told them they had numerous violations and I would sue if they didn't note the account as paid as agreed, deleting the lates.

Was this ok? Am all worried that I've screwed up somehow and I'm going to have fifty Citibank lawyers at my door tomorrow.

Was more litigous nutcase......

[momof5]

Is the debt paid at this time? If not, is it past the statute of limitations? Telling them that your records differ does not mean that you are inviting a bunch of lawyers to breathe down your back, they will check and either delete or tell you (or the CRAs) that the reporting is accurate.

[chincheck]

Just sent a sort of debt validation letter to Citibank

DV letters don't work with an OC. The steps outlined in "Dispute w/ Orig. Creditors" link above should be followed for this issue.

[cakelover]

The debt is completely paid off and the account is closed.

I have to get these lates off my report - it's going to be the number one factor for not getting a mortgage in a year or two. My fault I realise - I will pay on time EVERY time from now on. Here on out.

I have it in my mind that I'm going to take this all the way.

I'm guessing they don't have complete records and all three CRA's are reporting different info for each month.

At the very least I can be a complete royal pain in the butt. And I can go to the small claims court if necessary. I'm still learning and this will all take several months, I'm sure, so I'll find out more as I go along.

I am just worried they'll sue me for something like "blackmail" - for asking them to list eveything as paid as agreed or I'll sue.

I cc'd the BBB on the letter!

Am sure Citibank doesn't care about me..... am small fry.

[momof5]

Just sent a sort of debt validation letter to Citibank

DV letters don't work with an OC. The steps outlined in "Dispute w/ Orig. Creditors" link above should be followed for this issue.

OOPS! Good catch. I was a bit sloppy.

The only thing you can do is dispute it with the CRA and I have disputed the listing with OCs....almost always, they WILL have accurate records.

I don't see where you have anything to take them to court over. Unless you can prove your side (that their reporting is inaccurate), you would get slapped with their legal fees for filing a frivolous lawsuit (in some states).

If what they are reporting IS accurate, just dispute it with the CRAs every few months and see if it disappears....otherwise, you will have to live with it until it ages off.

Last: You stated that this had a 'gazillion' lates, up to 150 days.....

When those lates hit 7 yrs, they should be deleted. If you brought the account current before you paid it off, it will take until the LAST late + 7 yrs before it is completely gone.

[cakelover]

Is there nothing I can do except wait? Disputing with CRA isn't going to work, I'm guessing, because Citi will just come back and verify.

I keep hearing that CC's only have accurate records for 12-18 months and that if you dispute records going back 2-5 years they will delete them. Is this not true in your experience?

[cakelover]

So, did I make an oops? Is it too late to Goodwill......

Please advise (I should have posted before sending!)

Here's the letter I sent to Citi (cc'ing BBB):

To Whom It May Concern:

I recently pulled my credit report from Experian, TransUnion, and Equifax, as I am in the process of applying for a home loan. All three credit bureaus are listing the above referenced account as paying late on various occasions ranging from 30 to 150 days late.

After cross referencing all of the late payment notations sent by Citi to the above referenced credit reporting agencies with my bank statements, certified mail receipts from payments sent, and previous credit reports pulled throughout the term of the above referenced Citi account, it is apparent that the information reported by Citi to Experian, TransUnion and Equifax is inaccurate. Also, according to the FCRA, as amended by the FACTA act, Citi was required to notify me of the insertion of negative listings, which has not been done.

§ FCRA 623 (a) (7) Negative Information

(A) Notice to Consumer Required

(i) In general. If any financial institution that extends credit and regularly and in the ordinary course of business furnishes information to a consumer reporting agency described in section 603(p) furnishes negative information to such an agency regarding credit extended to a customer, the financial institution shall provide a notice of such furnishing of negative information, in writing, to the customer.

(ii) Notice effective for subsequent submissions. After providing such notice, the financial institution may submit additional negative information to a consumer reporting agency described in section 603(p) with respect to the same transaction, extension of credit, account, or customer without providing additional notice to the customer.

( Time of Notice

(i) In general. The notice required under subparagraph (A) shall be provided to the customer prior to, or no later than 30 days after, furnishing the negative information to a consumer reporting agency described in section 603(p).

(ii) Coordination with new account disclosures. If the notice is provided to the customer prior to furnishing the negative information to a consumer reporting agency, the notice may not be included in the initial disclosures provided under section 127(a) of the Truth in Lending Act.

Reporting inaccurate information is a violation of the FCRA. The FCRA allows for damages of $1000 per violation. There are countless violations pertaining to this account from failing to notify me to reporting inaccurately.

Please correct this listing to “paid as agreed – never late” with Experian, TransUnion, and Equifax or I will seek legal action.

[momof5]

You can always send a goodwill letter. Some will, some wont. It is a crap shoot and it doesn't ever hurt to ask.

Sometimes we have to live with our history....ask any of us who had to file BK. Time does pass and when those lates are more than 2 years old, they don't hurt so much. The big difference will come while you are rebuilding some good credit on your bureau.