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mosinnagant

Bank reporting late car payment in error - Sent dispute letter and bank hasn't signed return receipt

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A few months ago the bank I have my car loan through reported a 30 day late payment to the CRAs in error. I called them and they refuse to do anything about it but instead gave me a mailing address to mail a letter to. I mailed a dispute letter via certified mail and according to USPS tracking it arrived at their PO Box over two weeks ago. As of today no one has picked up the letter or signed the return receipt. I called the bank today and again was told there is nothing they can do and they don't even have a phone number for their dispute department. What can I do about this? Is there any action I can take under the FCRA?

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Hi,

 

FCRA only allows you a private right of action under one condition--that you dispute within the terms of the FCRA.  What you need to do is dispute through the credit bureaus, not on your own directly to the creditor.  

Get all 3 of your credit reports.  If the error is reported on all three, then send a written dispute letter via certified mail to all three bureaus.  Send it to all bureaus that are reporting the error.  Once they receive it, they are "supposed" to contact that creditor and allow them 30 days to verify.  If you do this and it comes back verified, then FCRA allows you to act.  But if you do not do that, then you do not have a right to action under FCRA.  

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10 hours ago, mosinnagant said:

What can I do about this?

When I had a disputed charge on a Citibank credit card and going through the fraud process there were problems and ultimately when I was ignored I filed a complaint with the CFPB.  I was stunned at how quickly Citi resolved the issue when the CFPB got involved.

I would start there.  If that complaint  yields nothing then try the FCRA process.

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