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trade-line on credit report....OC's gone ! but JDB's stays


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What do I need to do to remove the negative tradeline by JDB on my credit report?

 

A few years ago, a tradeline was entered by OC, which set to be expired next year 2017; then, out of nowhere, a JDB entered 2nd tradeline last year, which also set to be expired same time in 2017, according to transunion.

 

Google search showed OC had problems with CFPB, no lawsuit was filed against me from either OC or JDB, and SOL was long time ago anyway, although JDB still sends me collection letters, asking me to make payment….

 

Now, interesting part:

I just got the transunion credit report, which shows, the OC’s tradline is not on anymore, but the JDB one remains.

 

I understand it is difficult to remove the OC’s tradeline but now that it’s gone earlier than I expected, ......curious to see anything I can do to get the JDB’s tradeline removed ?

 

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1 hour ago, cowboy said:

I understand it is difficult to remove the OC’s tradeline but now that it’s gone earlier than I expected, ......curious to see anything I can do to get the JDB’s tradeline removed ?

Depends on who the JDB is.  If the SOL to sue you really has expired then the last weapon in their arsenal is to report to the bitter end.  

There is NO magical method to remove a valid trade line.

1 hour ago, cowboy said:

I just got the transunion credit report, which shows, the OC’s tradline is not on anymore, but the JDB one remains.

This is becoming more common in bad debt sales.  The buyer is requiring that the original creditor delete their trade line to eliminate potential FDCPA and FCRA violations if they should sue the consumer to collect.  The OC removing the trade line in no way obligates the JDB to remove theirs.

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1 hour ago, CCRP626 said:

Dispute it through the credit bureau.

I disputed through transunion. They came back and said they looked into it and records were verified. It looks like some of those auto-reply thing. 

FCRA, there is no private rights. And I am not sure what to do with FDCPA.

No valid bill of sale / assignment ever coming from JDB, but since I ignored them,  time for DV had passed anyway. 

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Who is the JDB? See if there is a CFPB order against them as well. If this is past the SOL and they can't sue, keep pushing for the delete based on the original creditor's records being inaccurate so that entry was removed. Check the articles here http://www.creditinfocenter.com/repair/ and file a CFPB complaint if you can't get the entry removed.

http://www.consumerfinance.gov/complaint/#credit-reporting

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5 hours ago, cowboy said:

I disputed through transunion. They came back and said they looked into it and records were verified. It looks like some of those auto-reply thing. 

FCRA, there is no private rights. And I am not sure what to do with FDCPA.

No valid bill of sale / assignment ever coming from JDB, but since I ignored them,  time for DV had passed anyway. 

Send TransUnion a MOV letter.  This should ask them what method they used to verify the TL AND for the name, address and phone number of the person who verified the information to them.

Generally, TU does not properly respond with the specified information within the required 15 days.  When they fail to do so, you can file an arbitration claim against TU for the FCRA violation.  As part of a settlement when TU does not want to pay the large sum to arbitrate, you can ask them to remove the TL.

The other things I would look at are all of the past and current letters from the JDB.  I would look at my saved past credit reports and compare the OC's TL right before they removed it with the JDB TL.  I would see if there aren't any FDCPA violations somewhere in those.  The most common violations are a changing balance with no explanation or with credit reports, dates and balances that vary.

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8 hours ago, cowboy said:

No valid bill of sale / assignment ever coming from JDB

They are not required to provide one unless they sue you.  Even Florida only requires that a creditor notify you that the debt has been sold and to whom but is not required to provide any proof at that time or if you dispute the debt.

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@CCRP626:

 

For privacy reason, I rather not saying who the JDB and OC are.  For sure I keep the CFPB link you told me handy, thx.

 

@fisthardcheese:

 

What is a MOV letter? Do you have a sample that I can use? Thx.

 

@nascar:

 

No, information is not correct.

 

@Clydesmom:

I see, thx.

 

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11 hours ago, cowboy said:

@fisthardcheese:

 

 

What is a MOV letter? Do you have a sample that I can use? Thx.

 

On 4/12/2016 at 5:55 AM, fisthardcheese said:

Send TransUnion a MOV letter.  This should ask them what method they used to verify the TL AND for the name, address and phone number of the person who verified the information to them.

 

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18 hours ago, fisthardcheese said:

Send TransUnion a MOV letter.  This should ask them what method they used to verify the TL AND for the name, address and phone number of the person who verified the information to them.

The CRAs only have to send the business name, address, and phone number of the furnisher.

1681i(a)(6)(B):

(B) Contents  As part of, or in addition to, the notice under subparagraph (A), a consumer reporting agency shall provide to a consumer in writing before the expiration of the 5-day period referred to in subparagraph (A)—

(i) a statement that the reinvestigation is completed;
(ii) a consumer report that is based upon the consumer’s file as that file is revised as a result of the reinvestigation;
(iii) a notice that, if requested by the consumer, a description of the procedure used to determine the accuracy and completeness of the information shall be provided to the consumer by the agency, including the business name and address of any furnisher of information contacted in connection with such information and the telephone number of such furnisher, if reasonably available;
(iv) a notice that the consumer has the right to add a statement to the consumer’s file disputing the accuracy or completeness of the information; and
(v) a notice that the consumer has the right to request under subsection (d) that the consumer reporting agency furnish notifications under that subsection.

 

 

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On 4/12/2016 at 7:14 PM, cowboy said:

No, information is not correct.

Generally speaking, FCRA claims are difficult to perfect and even more difficult to prove. If a data furnisher (who happens to be a debt collector) is providing false or inaccurate information to a credit reporting agency, the better claim is one brought under 1692e(8). The FDCPA is a strict liability statute, so the willful vs. negligent issue is off the table. And because of the straightforward nature of the claim, you're way more likely to find an attorney willing to take your claim. You'll find that lots of attorneys avoid FCRA claims, in large part because  whether and how a consumer disputes data before consulting an attorney can often be fatal the claim. Moreover, actual damages are often nonexistent and the way recent case law has evolved, it has become very difficult to establish the existence of willful violations.

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@BV80 & @nascar,

Thx for the info,....I heard that  FDCPA may brings $1000, some says it could more, while others say it's only $1000 even with multiple violations, that's one of the confusing part.

I am filing the follow-up dispute with transunion, will see what happens,...

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On 4/14/2016 at 1:59 AM, BV80 said:

The CRAs only have to send the business name, address, and phone number of the furnisher.

1681i(a)(6)(B):

(B) Contents  As part of, or in addition to, the notice under subparagraph (A), a consumer reporting agency shall provide to a consumer in writing before the expiration of the 5-day period referred to in subparagraph (A)—

(i) a statement that the reinvestigation is completed;
(ii) a consumer report that is based upon the consumer’s file as that file is revised as a result of the reinvestigation;
(iii) a notice that, if requested by the consumer, a description of the procedure used to determine the accuracy and completeness of the information shall be provided to the consumer by the agency, including the business name and address of any furnisher of information contacted in connection with such information and the telephone number of such furnisher, if reasonably available;
(iv) a notice that the consumer has the right to add a statement to the consumer’s file disputing the accuracy or completeness of the information; and
(v) a notice that the consumer has the right to request under subsection (d) that the consumer reporting agency furnish notifications under that subsection.

 

 

@BV80

I disagree in part.  Yes, the "furnisher" information - but in this section they are talking about the furnisher of the verification as a result of the dispute.

The words just beyond your bolded part are the key:   " including the business name and address of any furnisher of information contacted in connection with such information"

"In connection with such information" referred to the information above dealing with the investigation results.  In other words, the person who verified the dispute is what is being talked about.  I would assume most of the time this will be the same as the furnisher of the TL, but it may be a different department or division who responds to disputes.

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11 minutes ago, fisthardcheese said:

@BV80

I disagree in part.  Yes, the "furnisher" information - but in this section they are talking about the furnisher of the verification as a result of the dispute.

The words just beyond your bolded part are the key:   " including the business name and address of any furnisher of information contacted in connection with such information"

"In connection with such information" referred to the information above dealing with the investigation results.  In other words, the person who verified the dispute is what is being talked about.  I would assume most of the time this will be the same as the furnisher of the TL, but it may be a different department or division who responds to disputes.

I see what you mean, but the only way the MOV response could include a different business name is if that department or division actually goes by a different business name.  

I'm thinking that what it might mean is a different business.  For instance, a credit card company's service might go by a different name, so that servicer's business name and address would be included if it was contacted by the credit card company.

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4 minutes ago, BV80 said:

I see what you mean, but the only way the MOV response could include a different business name is if that department or division actually goes by a different business name.  

I'm thinking that what it might mean is a different business.  For instance, a credit card company's service might go by a different name, so that servicer's business name and address would be included if it was contacted by the credit card company.

Agreed.

I never expect any NEW information to come out of the MOV.  I expect the same furnisher information to be provided.  However, I still ask for it only because the CRAs have a habit of not providing that contact information at all in response to my MOV request.  In the dozen or so MOV letters I have personally sent, not a single one gave the contact information as required by FCRA and on top of that, the method of verification was also never provided.  Instead, I always receive a generic form letter stating how in general disputes are handled.  This, too, is an improper response under 1681i.

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6 hours ago, cowboy said:

Thx for the insight ! Always nice to have someone so knowledgeable.

Assuming transunion comes back with 2nd auto-reply thing following the MOV request, what do I need to do?

The first thing I would do is pull a new copy of my credit reports to see if the TL is still there.  Often, the CRA will quietly remove the TL after an MOV request to attempt to limit their liability.  The biggest reason I use the MOV method is because it often forces removal of a stubborn TL.

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  • 1 month later...

Sorry for being away...

As expected, first reply from transunion, --non sense as they simply copied the portion of credit report I disputed with. 

I sent 2nd letter, heavy weighted on MOV. 

Transunion replied that junk debt buyer just submitted another tradeline on my credit report- with "current- OK", next to the section where it states 30 days/ 60 days/90 days past due.  

Given 2 letters already sent, any suggestions on next move? 

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@cowboy you said the entry is not correct? Does the amount keep increasing or is it something else? The "current- OK", did that show as something else before you started disputing?

I'm thinking options would be a CFPB complaint detailing all you've done. Seeing if arbitration was an option in the cardmember agreement. Consult with a consumer attorney who would get paid from the violations.

 

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@CCRP626 :

Yes, I said the dollar amount was not correct, and original credit had a problem with CFPB.  

The amount was just different from OC, but did not keep increasing. 

The "current OK" was just added, which was not on my credit report before. 

And I did not make any payment to this junk debt buyer. 

In the 1st and 2nd letter, I requested the MOV. 

I am thinking about CFPB and FTC complaint, but first on credit rating agency-as they refused and did not provide MOV--at this stage, it is considered as violation, right?

Why did they put "current OK" ? 

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@cowboy I'd give that CFPB complaint a bit of time. I forget how much time they have to resolve them but it should be in your e-mail. Update the complaint if the JDB is changing info on it.

Reporting is supposed to be accurate but I don't think most consumers complain if an account they never paid a JDB on is marked as current. I'd keep all my copies of the reports just to see how the story changes over time when you haven't changed your dealings with them. Just one thing I'm thinking is a JDB could use that as a way to reset the SOL if your state says any payment resets the SOL. It's "current-OK" today, late down the road when they hope you forget about it.

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Does it seems to you, they are trying to re-age the thing ? 

Can you provide me with:

1. the actual rules that says "any attempt to re-age" is a violation of FDCPA/ or FCRA ?

2. the actual rules that says credit rating agency/ or JDB/ OC are required to keep their entry accurate. 

Please !....so that I can include these in 3rd letter before any action. 

I think, once a CFPB complaint filed, CFPB will forward it the JDB and give it 50-60 days to resolve. I am thinking about both FTC and CFPB complaints

Thank you !

 

 

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