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blondie813

CRAs reporting account in dispute when I specifically stated I did not want to initiate dispute

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There is a car loan/repo reporting on my EQ and EX reports from December 2009. The loan was originally with Americredit, which they were subsequently purchased by GM Financial sometime in 2010. The accounts have never reported accurately and are different on both reports. The account was deleted from my TU report sometime last year after a dispute. 

 

I have disputed multiple times over the last year alone and GM Financial continues to verify the accounts as accurate to the CRA and refuses to update the incorrect information even when I contact them directly.  Most recently, I filed a complaint against GM Financial with the CFPB. The response from GM Financial stated, "It is important to note that GM Financial sends identical credit bureau data to each credit reporting agency and, in turn, the credit reporting agency determines how they will interpret and report that information on the credit report that they provide to the consumer. As you have been advised, GM Financial is both, by law and by contract, required to report truthful and accurate information to the credit reporting agencies."

 

So, basically GM Financial is saying that the CRAs are receiving the correct information from them but then they choose to report it inaccurately?????

 

I contacted both Experian and Equifax on Monday evening. I explained to them both the response I got from GM Financial and that I have documentation showing that GM Financial is reporting inaccurately.  Both CRAs basically told me that there was nothing they could do and that if I believe the information is inaccurate I could open yet another dispute or I could deal with GM Financial directly.  I specifically told them that I did not want to open another dispute and that I think it is ridiculous that they would suggest I wait another 30-45 days for them to tell me that GM Financial verified the reporting as accurate...again.  

 

Now today, I received an alert for my EQ report and of course it is for the GM Financial account and it shows as "in dispute" even though I specifically stated that I was not going to initiate another dispute. I also see that the payment reporting status has changed on EQ.  How is that possible when 1) I didn't initiate another dispute and 2) GM Financial stated they were reporting accurate information to begin with?  So did EQ just take it upon themselves to change the reporting? I also check my EX report and it is showing as "in dispute" there, as well.

 

I'm not really sure where to go from here but I'm fed up with both GM Financial and EQ/EX stating the info is accurate but then changing it and marking it in dispute when I specifically stated that I was not initiating a dispute.

 

Any feedback is appreciated.

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@blondie813

 

"It is important to note that GM Financial sends identical credit bureau data to each credit reporting agency and, in turn, the credit reporting agency determines how they will interpret and report that information on the credit report that they provide to the consumer. As you have been advised, GM Financial is both, by law and by contract, required to report truthful and accurate information to the credit reporting agencies."

 

 

It doesn't say that they choose to report inaccurately.  It's probably just a standard response provided for all disputes and complaints. 

 

What are they reporting inaccurately?

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@blondie813

 

 

It doesn't say that they choose to report inaccurately.  It's probably just a standard response provided for all disputes and complaints. 

 

What are they reporting inaccurately?

 

 

They are reporting the payment history and the loan term inaccurately.

 

So, I called EQ and spoke to someone in the Consumer Affairs office. She told me that they (EQ) did not update the account or mark it in dispute but rather that GM Financial did so yesterday. GM Financial has now changed the pay history to match what is on EX but it is still not accurate.  The loan term is still showing incorrectly for both reports. I am curious how GM Financial can report the account as accurate from my dispute back in February and tell the CFPB that they are reporting accurately, yet they change the what they are reporting again yesterday.

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@blondie813

 

I am curious how GM Financial can report the account as accurate from my dispute back in February and tell the CFPB that they are reporting accurately, yet they change the what they are reporting again yesterday.

 

 

Probably more than one person within GM handles disputes and either they're all incompetent or some are less competent than others.

 

Have you contacted GM directly?

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@blondie813

 

 

Probably more than one person within GM handles disputes and either they're all incompetent or some are less competent than others.

 

Have you contacted GM directly?

@BV80

 

Yes, I've contacted them directly many times and they always assert that they are reporting accurate information. My experience has been that they will then verify as accurate with my dispute to the CRAs and then update my credit report a few weeks later but still not with accurate info. They are adamant  about not removing the account. It's beyond SOL for them to sue me and they are hell bent on making me suffer every moment until it is scheduled to drop off in February 2016.  

 

Thanks for your assistance.

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@blondie813

 

Well, unless you can show that GM willfully violated the FCRA, you wouldn't be able receive statutory damages in a lawsuit.  Absent willfulness, you'd have to show actual damages (denial of credit, higher interest rates, etc.).  Also, the FCRA has a 2-year SOL.

 

How is the entry affecting your credit?  Has it cause you to be denied credit?

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@blondie813

 

Well, unless you can show that GM willfully violated the FCRA, you wouldn't be able receive statutory damages in a lawsuit.  Absent willfulness, you'd have to show actual damages (denial of credit, higher interest rates, etc.).  Also, the FCRA has a 2-year SOL.

 

How is the entry affecting your credit?  Has it cause you to be denied credit?

 

@BV80

 

Could you please give me an example of what would show that they willfully violated the FCRA? Because I have contacted them multiple times, given them documented proof that what they were reporting was incorrect and they responded directly to me that they were reporting correctly and would not change it. They have continually verified the account as reporting accurately to the CRAs despite my documented proof that they were not. That seems pretty willful to me.

 

Yes, I have been denied credit and I have received high interest rates. It is currently negatively affecting me because I am trying to qualify for a mortgage.

 

Also, looking at this from a different perspective--my loan was always through Americredit even up to the time of repossession and deficiency.  GMF did not acquire Americredit until well after the fact.  The account on my credit report does not show anything about Americredit. It looks as though the account was always with GMF. I am wondering if there is any challenge I can make to GMF being able to legitimately report it.

 

Thank you so much for your feedback.

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@blondie813

 

First, you'd have to have indisputable proof that the information being reported is incorrect.  Then, you'd have to prove to the court's satisfaction that you provided that information to the furnisher and the furnisher refused to correct the information it provided on your CR.   If you can prove that, you can show willfulness.

 

You need to speak to a consumer attorney and let him review all of your evidence.

 

When (date) did you first dispute the information?

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