FCRA/"Adverse item of information"

[swirlgirl]

Hi,

I have a couple of old paid accounts (both over 2 years from last payment)that are showing as "Closed at the credit grantor's request." I tried disputing with EquiFax, but they won't delete.

Do you think I could make a case that listing them like this can be considered adverse information per the below from the FCRA?

§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. § 1681c]

(5) Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years.

What do you think?

[kevin3344]

They'll only delete if they're 7 years from DOLA. Closed at credit grantors request won't be enough. Now, you might want to contact the OC and have this changed to "closed at consumers request" but other than that you'll have trouble getting them to delete it, if it's within the 7 year period for reporting.

[bigjohnstud4200]

I don't see a violation. They closed the account on you and regardless of if you paid it or not the fact is, they closed it. It's a negative and is hurting you. Is it reporting the same info across all CRA's? You will need to find another way around getting this deleted.

[swirlgirl]

Thanks for the responses. On the two accounts, the DOLAs are from 1998 & 1999. Equifax is saying that because the accounts are showing as paid, they don't have to delete for 10 years.

[bigjohnstud4200]

Thanks for the responses. On the two accounts, the DOLAs are from 1998 & 1999. Equifax is saying that because the accounts are showing as paid, they don't have to delete for 10 years.

Unless it's something to do with a bankruptcy, that is not true. If all the dates don't match up, IMO, I would dispute with the CRA's. When they verify it as accurate but things aren't matching, then I would use the "dispute with oc" letter at the top of this page and start building violation against them. Then I would try and leverage a delete.

[IHateCAs]

I don't think anyone takes "closed at credit grantor's request" as a negative. Installment loans report that way after payoff.

[swirlgirl]

Does anyone know if there is a rule or regulation that says a CRA can continue to report old Paid accounts for 10 years?

These are old cc debts from college that were in derogatory status until I paid them back in 1998.

I just want them off my report. I have a letter from one of the OCs that states that they asked Equifax to remove the TL, but EquiFax refuses to remove it. Any ideas?

[bigjohnstud4200]

I don't think anyone takes "closed at credit grantor's request" as a negative. Installment loans report that way after payoff.

Non of my installments say "closed at credit grantor's request" and are reported as "Closed" for condition and "Current" under Pay Status. My Crap1 account that was closed and charged off, but paid, does have this notation though. I did a search and found a couple DF reference material that say reporting "closed at credit grantor's request" lets other lenders know that the account is closed to any future charges. Having your account closed to future charges, doesn't sound like a positive TL to me, but since I don't know the specifics of the FICO scoring model I guess it's all speculation. I'm interested to know how many people have "closed at credit grantor's request" request attached to positive TL's?