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If I dipute at 1 CRA does it reflect on the other 2?


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I'm sure someone on this blog has dealt with a similar situation

so here it goes...

I've heard that the results of a disputed account has to be shared from one CRA to the 2 others

For example, hypothetically speaking of course ;-), if I had a slow pay from lets say Sears showing up on all 3 CR's and the slow pays are over 3 years old. And lets say I called Sears to see if they could verify it and they could not ,so I decide to dispute the slow pays with...say... Experian.

and lets say the slow pays could not be verified by Experian so they delete the slow pays from my Experian CR.

I've read in Good Credit is Sexy that all CRA's must report the results

of a dispute to the 2 others... MY QUESTION... is then what?

do the 2 others clean it up as well?

or do they ignore it?

Can I ask or pressure the 2 other CRA's to clean up my Sears account history based on the Experian verification process?

Is there precedence?

Does that make sense? Help?

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I have TLs, good and bad, that appear on one CRA's report but not the others.

My two car loans thru GMAC were on all 3 CRs, but the paid off loan showed as 30 days date in 2004 on EX. EQ and TU had it correctly reported as paid off, closed, never late.

From Good Credit Is Sexy, Chapter 4:

"... not all credit agencies will have the same information. This is because creditors do not necessarily report to the same agency and many do not report to all three major credit agencies."

From Chapter 24:

"... if a bureau corrects a mistake on your report, it is required to share this information with other bureaus, but this doesn't mean that the other bureaus have to do anything with this information. And since the law doesn't require agencies to update their information in their databases based on other bureau's actions, they don't."

If Sears couldn't validate the slow pay, then it seems it might be best to DV with Sears. If you still have the Sears account, and it's current, I would try Goodwilling it. That's what I did with GMAC. I sent something of a Goodwill/Dispute letter to GMAC. Not CMRRR. Just regular USPS first class. Here's the text of the letter.

My wife and I recently pulled all three of our credit reports. GMAC appears to have mistakenly reported this account as 30 days late to Experian.

We disputed the account with Experian, but they closed the dispute without checking or there was some problem on their website. In any event, please correctly report this account to Experian--just as it has been reported to the other credit bureaus.

We know mistakes happen, and we would simply like this corrected. Both our vehicles were purchased new from Saturn and financed thru GMAC. We have been very happy with both Saturn and GMAC.

GMAC corrected with EX, and we got a polite letter from them confirming it was resolved.

I think if you have a current relationship with a creditor, it's best to use a lotta smiles, honey and sugar. But polite firmness. IMHE, they are more willing to help you if they think you'll be spending money with 'em.

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