Disputing Negative Records With Credit Reporting Agencies Part2
OK, you've disputed with a Consumer Credit Reporting Agency - and got a reply 'verified'. This means that the record stays. What has...
Disputing Negative Records With Credit Reporting Agencies Part2
OK, you've disputed with a Consumer Credit Reporting Agency - and got a reply 'verified'. This means that the record stays. What has happened?
The CRA (Credit Reportin Agency - Equifax, Experian, or TransUnion) does verification by simply asking the original creditor (lender, collector) to verify information. They don't spend more than several minutes on your case.
Now after CRA (Credit Reporting Agency) has verified that it correctly reflects information provided by the creditor, the burden of responsibility for errors in this information lies on the creditor itself. And you can use all options including suing the creditor for providing erroneous information. See more about your rights in the FCRA (Fair Credit Reporting Act - http://www.101creditrepair.com/resources
So next logical step for you is to write to the creditor to ask for an investigation. Important note: ask for an investigation, not verification. Original creditors are not required by law to verify information, but they ARE required to investigate a complaint about an error. You may need to call them and escalate to a manger or legal department to find out where to write.
If they still don't correct the record - you can call them and ask what documentation they have to support their decision. If they don't have any - write to their legal department demanding removal of the disputed item.
Note: when writing letters - always make copies for your file. Also always use certified mail with delivery confirmation - and keep receipts on your file.
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