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Is a CA Required to Report when a Debt was found to be invalid?


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I was contacted by a CA immediately after I filed a dispute with Equifax regarding a a Chase credit card delinquency – it was opened in 2005 and just recently popped up on my CR. As soon as I filed the dispute Chase assigned it to the CA (nice guys). The CA demanded payment, wanted to settle …’right now", etc., I demanded verification. I have yet to hear anything from CA and it’s been over 30 days. But I was just notified by Equifax yesterday that their investigation determined the debt is not valid and they are removing it from my CR.

That's good news. But isn’t the CA required to reply to my ‘request for verification’ even if it’s in my favor? The collection activity has not appeared on my CR (yet).

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  • 2 months later...

Is a credit card company (Chase) required to tell a customer, who has been a victim of an invalid credit card delinquency that showed up on the Credit Reporting agencies, and which Chase has admitted in writing that it is invalid; are they required to offer me the details as to how and why this error (or fraud) was committed?

After disputing this "adverse account" with CR - they agreed it was invalid and removed. I then called Chase and requested an investigation. After 90 days I called Customer Service. They said, 'yes the investigation has resulted in the ‘delinquent account' being removed from your file. They didn't know why it was reported. I asked for something in writing and details of how this error/fraud occurred.

In a week I got a letter from Chase saying, "we have furnished the CR agencies with updated information so they can amend their records to reflect that credit card account ending in XXXX has been deleted from your credit bureau report."

Is this all they are required to do by law? Don’t they have an obligation as to tell me how this error or fraud against me occurred so I can defend myself in the future?

This seriously damaged my credit reputation and was the reason I was unable to refinance my home at a historically low rate. I believe Chase is at fault through clerical error and will not admit blame for fear of being asked for a settlement for damages – which I deserve!

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