Jump to content

Are CRA update processes unreliable?


Recommended Posts

Asset Acceptance Tradeline

TU = Factoring company, open account, pay status-collection account, consumer disputes account.

EQ = Factoring company, open account, collection account, consumer disputes account.

EX = Sales Financing Company, type-Installment, terms-1 month, account in dispute-reported by subscriber, creditor cannot locate individual/collection account.

In a comparison of the report segment “2 year history” of 2 Experian credit reports, why would the Sept 05 credit report show CO’s for 8/04, 11/04 and 2/05 but the June 06 report show them as OK? Are the CRA update processes faulty or unreliable?

I didn’t think CAs could report as a factoring company or open account status—am I mistaken? Can they claim to be a sales financing company?

Why would the credit reports reflect different information for AA--wouldn’t they all get the same update criteria (i.e., factoring versus sales financing company)?

I saw somewhere a comment that CAs have to be careful with regard to settlement letters after SOL runs on a debt. Does anyone have any insight on this opinion? For the above debt, the DOFD was 5/02 (or prior) + 4 years SOL = 5/06 SOL runs on the above account. Settlement letter was sent in 6/06.

Link to comment
Share on other sites

That's illegal but they do it anyway. Maybe you should find a lawyer who will sue them rather than giving them any warning first. I tried this but the atty I contacted told me to dispute it first. After 2 DV's they deleted anyway, so no go.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.