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Should I sue???


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So I decide to refinance my mortgage and to my surprise I was rejected by several lenders. I decided to get copies of my credit reports and notice there are several accounts that don’t belong to me. I sent validation letter to all those collection companies and within 10 days I get letter stating the following:

“We are providing you with this letter pursuant to your specific request to confirm that NAME OF CA does not list you as the responsible party regarding the above item” in other words they screwed up and messed up my credit in the process.

What would you do? Would you sue them? Do you think I have a chance of winning?

:confused:

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They don't have to contact you prior to messing with your credit report. You have the right to dispute, but they don't have to give you notice they are putting something on your report.

A lot of times they do, in an effort to get you to pay, say if you don't pay we will hit your report.

I was sorta of hinting around when I asked who you would sue. These cases are tough, they seem simple, but are not. Credit reports are hearsay and the collection agency will say the CRA is reporting it wrong and the CRA will say the collection agency gave them the wrong info and they are just reporting what the CA told them to report.

You have to somewhat throw a lawsuit party and sue them both and then let them turn on each other and find out who is really at fault, then go after them.

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I was just reading a case that mirrored your claims out of New Mexico. The issue was that the plaintiff in that case repeatedly sent letters to the CRAs--most notably Equifax disputing the negative lines on her CR, and despite that Equifax never really investigated her claims, and just summarily rejected her disputes.

She had settled with Discover, but Equifax fought on, then eventually lost. i would put your efforts in disputing with Equifax, and keep your eye on suing only if you don't get anywhere.

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They don't have to contact you prior to messing with your credit report. You have the right to dispute, but they don't have to give you notice they are putting something on your report. Your right there Coltfan, but the FCRA does states that if a subscriber reports to the CRA's they have to report the information correctly.

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The only way you are going to get any traction on a suit like this is if you start disputing with the CRAs and if it is not fixed right away sue EVERYONE in a single suit. This will force them to start throwing each other under the bus. When the dust settles you will be the winner if you follow the procedures.

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But the FCRA does states that if a subscriber reports to the CRA's they have to report the information correctly.

Right, my whole part. The subscriber will say they reported it correctly and the CRA screwed up when they put it on the report. The CRA will say b.s. and there you have the finger pointing game.

And the consumer is left with inadmissible hearsay (credit report) which even if was admissible is common knowledge credit reports are anything but always accurate.

When I worked insurance claims and we would deny coverage for a cancelled policy due to a bounced check, almost 100% of the time is was a "bank error" that was claimed.

Not one single time was that ever proven, but made for a lot of headaches.

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there are several accounts that don’t belong to me.

I would start by finding out who reported these nonexistent accounts, then I would put their scrotumized body parts into the meat grinder. They are licensed, which means they have a legal obligation to know what they are doing. Mistake? Not allowed. Statutory requirements trump stupidity every time. Can't figure out how to do your job? Pay the price. Don't know the law? Pay the price. My credit is ruined because of YOUR stupidity? Pay the price. Left a dunning message on Coltfan's answering machine after receiving a cease and desist? Pay the price. This is like the criminal case where three guys go into a locked room with no windows and only two come out. Tell me the third guy has no case.

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