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Can Honda Finance have (2) TL's?


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My husband voluntarily surrendered our Honda earlier this year because we were after trouble finding work after being discharged from the military.

I just pulled a 3-in-1 for my husband using PM through Key Bank.

It shows 2 different TL's for Honda Finance, that look like this:


Account #: 4026****

Type: Auto Loan Opened: 01/05/2004

Condition: Derogatory

Pay Status: Collection/Chargeoff

Reported: 08/06/2007

Balance: $398

Payment: $399

Responsibility: Maker


Account #: 11087474539****

Type: Auto Loan Opened: 12/16/2003

Condition: Closed

Pay Status: Unknown

Reported: 01/31/2004

Balance: $0

Payment: $394

Responsibility: Joint

So what's that all about?

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You need to obtain each of your credit reports from each of the CRA's individually. Credit monitoring services such as TC provide you with tri-merge reports, or 3-in-1 reports, which aren't always as concise as the individual reports. That's why you always base your credit repair off of your individual reports - not off of a tri-merge.

Which TL is your husband's? Dispute any information that is inaccurate.

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Well, from what it LOOKS like...

...it seems as though the one that says "Condition: Closed" and doesn't look negative is the original truck loan.

Then the derogatory one looks like the one that shows that we surrendered it. The funny thing is, we settled the balance. It shouldn't show that we have a balance.

But here's a catch. When the truck was auctioned, they said we owed $7xx. They said that they would mark the account paid in full if we paid $3xx. We paid it. And we haven't heard from them since, except for a letter that says that we are paid in full.

Could this "balance" be the difference between the $7xx that we owed, and the $3xx that settled the account?

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That's the problem that most consumers have when they settle for less than the full balance. You say that you have a letter stating that your account was paid in full, correct? If you have that letter, write Honda a nice little letter explaining to them that you are paid in full per their letter, they are inaccurately reporting information, etc. They have the opportunity to update their information and correct it, so don't expect them to delete immediately...

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You may not be reading the trimerge correctly. It may be only reported once on each credit report. Look at the two trade lines it will tell you what credit bureaus that trade line is reporting on. It may say something like BX, BQ, BU. It will most likely be BX, BQ on one and BU on the other this means one trade line is being reported to Exerian and Equifax and the other trade line is being reported to Transunion that way.

And of course there is an error because how can the same tradeline be reported differently on different credit bureaus.

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I was under the impression you had a 3 in 1 trimerge credit report. This means all three credit reports are merged together in one report. That means you everything is mixed together and sometimes you will see the same trade line a couple times, but the most common thing is it is being reported slightly different between credit reports and that will cause multiple listings in a tri merge but if you know how to read it you will see it is on each of the credit bureaus once. I train mortgage professionals that have been in the business for years that still get this mistake.

The picture is not a tri merge and I did not see the accounts you were referring to.

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My BF had trouble with Honda. They were still reporting a repo on his CR even after the 7 yr point. When he called them to challenge it, they actually told him that if he didn't pay the deficiency they would report it forever!!!!

I pretended to be him in a letter and sent it to their corporate atty. I told him that I was deployed in Iraq (true for him at the time) and that I would get the JAG and my Senator involved if they didn't delete this TL. I also threatened that I could have the US Army ban all soldiers from using Honda Finance because of their treatment of the US soldiers.....

It was gone in less than 30 days! 8-)

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Yeah, sorry, I didn't post the right picture...

...here are the actual TL's:


That's a pretty good threat, momof5! Congrats! Any suggestions on a threat that a civilian could give?

I found out last night, to my GREAT dismay, that my husband shredded the letter they sent saying that we are paid in full. Now all I have is a bank statement showing the EFT payment... oi... The amount of the payment is $398, though.

Would it be beneficial to dispute it with the CRA? Maybe saying, hey look, there are (2) TL's here, and I've only ever had one loan, and it's paid in full? Because technically, it is. I guess that's high dreaming, isn't it? :)

HELP!!! :confused:

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You can dispute with CRA and state duplicate TL delete the one you don't want (you tell them which one to delete).

You can fire a letter off to the corp atty with a print of that listing set...point out that you are PIF, that you only had 1 loan and that they are in violation of the FCRA.

Your image didn't come up....it sent me to the home page of imageshack.

Do this:

[ img] (delete leading space) http: //yourimageurl [/img ] (delete trailing space) so that the image will appear in the post.....

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Okay, I think I fixed the image... it's showing up on my computer...

momof5, would you by any chance still have to contact information for Honda's corporate attorney? In addition to telling him that they violated FCRA by listing incorrect information, can I also tell him they violated by not notifying us of listing neg info on our CR?

I'll be sending the CRA dispute on Monday!

Also, does anyone know the section of the FCRA to quote? I am looking for it now, but maybe someone knows it off the top of their head...

Thanks a million!

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I don't have that information any longer. It was a few years ago and that computer tower is in my garage gathering dust. :( It got slower than molasses in a colorado blizzard and I had done what I could....that tower is now about 9 yrs old! :shock:

Reporting it without telling you first is in that paragraph 623 (d). This thing is giving me fits with the copy/paste!

If you click on FCRA above:

§ 623. Responsibilities of furnishers of information to consumer reporting agencies [15 U.S.C. § 1681s-2]

(a) Duty of furnishers of information to provide accurate information.

(1) Prohibition.

(A) Reporting information with actual knowledge of errors. A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.

(B) Reporting information after notice and confirmation of errors. A person shall not furnish information relating to a consumer to any consumer reporting agency if

(i) the person has been notified by the consumer, at the address specified by the person for such notices, that specific information is inaccurate; and

(ii) the information is, in fact, inaccurate.

© No address requirement. A person who clearly and conspicuously specifies to the consumer an address for notices referred to in subparagraph (B) shall not be subject to subparagraph (A); however, nothing in subparagraph (B) shall require a person to specify such an address.

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Now what I did was I took ALL the CR images showing the TL morphed all the time.

I wrote the CRAs demanding deletion and provided them copies of their OWN CR listing showing that they now can no longer say that they didn't know the information was unverifiable or inaccurate. I gave them 14 days from the date of the letter to delete.

I then drafted a lawsuit naming all 3 cras and the OC as guilty of willful non-compliance.

§ 616. Civil liability for willful noncompliance [15 U.S.C. § 1681n]

(a) In general. Any person who willfully fails to comply with any requirement imposed under this title with respect to any consumer is liable to that consumer in an amount equal to the sum of

ARGH!!! look in the FCRA above for the rest......

Anyway, 616 doesn't really apply to the OC. Only 621. But, Sometimes the threat alone is all they need. This is what got their attention....all of them.

When you dispute with the CRA that limits them to 30 days.

(2) Deadline. A person shall complete all investigations, reviews, and reports required under paragraph (1) regarding information provided by the person to a consumer reporting agency, before the expiration of the period under section 611(a)(1) [§ 1681i] within which the consumer reporting agency is required to complete actions required by that section regarding that information.

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Drafting one and filing one are 2 different things. When I send an ITS, I send a draft of the lawsuit I intend to file. This way they know that I mean it. They can look at it legally and see what their odds are of prevailing.

If you actually file it, your state has specific proof of service requirements that you would need to comply with.

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