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How do you dispute a chargeoff account that the creditor refused to validate?
Wiki User
∙ 8y ago
Technically this should be very easy. Write a letter to the (3) credit reporting agencies stateing that this information is/may not be accurate. They will then request that the creditor verify the information. If the creditor does not respond in 30 days then the entry should be removed. That's the way the law is written, though some credit agencies will give more time to the creditors before removing.
Wiki User
∙ 8y ago
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Can you dispute a charge off account?
No. Once an account has been in default for 180 days, the creditor by law must list it as a charge off.
How do you write a dispute letter to a creditor if the account is not yours?
If the account is not yours, you must have some connection to the person whose account it is, otherwise you would have no reason to be writing to the creditor. Therefore, you explain, I am writing to you on behalf of (whomever it is) because I am (his lawyer, his son, his secretary, etc.) and then you just proceed with your letter. There is nothing unusual about this, people write on behalf of other people all the time.
How do you remove charge offs from a credit report?
Charge-offs remain on your credit report for 7 years. If the account has been included in a bankruptcy, it should be marked as such...."included in bankruptcy". However, according to the Fair Credit Reporting Act, if you dispute the charge-off with the credit bureau and the creditor can not verify the account, it must be removed from your credit report immediately. Only the original creditor or the credit bureaus can remove a charge off, either through negotiations or through the dispute process.
Credit Report Agency says account accurate creditor wont provide you with accurate documentation What do you do to get it off your credit report?
Apparently the dispute may not been handled properly. Your next dispute letter should go to both the credit bureau and original creditor at the same time stating damages. There are sample letters available for you in good books but you must understand the dispute process first. Most consumers cause themselves more damage by not understanding the credit challenge process.
Can a creditor continue to report delinquency to a charged off account?
Once an account is settled, as with a charge off, the creditor must refelct that the account is settled. Failure to do so is a violation of the Fair Credit Reporting Act, a federal law. Dispute the bad reporting first with the credit bureau (Equifax, TransUnion or Experian). If they fail to change it within 30 days, file a formal complaint with the Federal Trade Commission (FTC) who is their regulatory agency. * Yes. A charge off does not indicate a debt is settled or not fully collectible. A charge off simply indicates that the original creditor is clearing the account of the books and referring it to a collection agency.
How do you provide additional information about a charge off?
All of the credit reporting bureaus allow you to dispute transaction lines found in the credit report. For actions like chargeoffs, the dispute is really adding a note to the file that one will hope a creditor will read when considering you for credit. You will need to know very specific information concerning the chargeoff (including the account, the amount, when the chargeoff occurred, etc.) and your statement will need to represent why the chargeoff should not be considered when applying for credit.
Can you dispute a charge off account?
No. Once an account has been in default for 180 days, the creditor by law must list it as a charge off.
What is the law concerning Credit Bureaus must have verifiable proof of the foreclosure account in their files if they are going to report the negative item on your report?
The Fair Credit Reporting Act requires creditors to report your account accurately, and the credit bureaus are required to maintain records that match the reporting. The bureaus are not responsible for the accuracy of the reported account information as they do not have access to the account records for each creditor. If you dispute the accuracy of an item, they request a response from the creditor, at which point the creditor must either show that your dispute is invalid, that your dispute is indeed valid, or fail to respond in a timely manner (failure to respond will mean the dispute is accepted and the item corrected or removed).
Can you have an unpaid bill removed from your credit report?
Yes, but only if one of 4 things happens: 1) The creditor agrees to remove it 2) You prove to the credit agency (Experian etc) that it is an erroneous account 3) You prove that the account should not have been reported due to some other factor 4) You dispute it and the creditor does not respond to the dispute
How can a person get a past delinquent pay off a credit report when it was dismissed because of bankruptcy?
Really, the only way to have it removed is to dispute it with the credit bureau reporting it. The credit bureau will then contact the creditor for verification. If the creditor can't verify the account, it must be removed immediately. If the creditor can verify the account, your choices are limited to disputing it again and/or just waiting for 10 years for the account to come off of your report.
Should you pay off 7-year-old debts?
NO! First thing to do if you want to pay off old debts is dispute the negative items on your credit report. If an update is over 5 years old they have to remove it. The reason I say dispute it is because when the credit bureau contacts the creditor the creditor has 30 days to validate the debt. If the creditor does not validate the debt in 30 days the credit reporting bureau is required to remove it. Once it is removed it is not supposed to be put back on unless notifying you first. Contact a mortgage company about how to fix your credit even if you are not buying a home right now. We just bought a house after working on our credit for 2 years after a fraudulant real estate sale ruined us. I think this question depends on the state you reside in. For example, in Ohio the statute of limitations, meaning how long the creditor or agency can take you to court and obtain a judgement, is 15 years. So, don't always asume that debt collector is bluffing when they say they are going to pursue the debt legally Before you dispute any accounts, look at the last reporting date on your credit report. If the creditor has reported to the bureau within the las 24 months dispute the account. If it has been over 3 years you are taking a risk the first thing that can happen is that it will be removed, the second thing that can happen is that it will alert the creditor that they have not reported in several years and then they will start reporting it again. If this happens it will look like a new occurrence in you credit and will affect your score. The further back an account is in your credit history, the less it affects your scores.
How do you write a dispute letter to a creditor if the account is not yours?
If the account is not yours, you must have some connection to the person whose account it is, otherwise you would have no reason to be writing to the creditor. Therefore, you explain, I am writing to you on behalf of (whomever it is) because I am (his lawyer, his son, his secretary, etc.) and then you just proceed with your letter. There is nothing unusual about this, people write on behalf of other people all the time.
What do you do if an account was turned over to a collection agency but the original creditor accepted your payment in full?
Contact the original creditor. Provide proof of your payment. They need to retract the account from the collection agency. The account could have been sold to the collection agency or simply assigned to them. For your purposes, it does not matter which situation applies. You paid the original creditor and your credit report needs to reflect this. After they do what they need to do to get the account back; you then dispute the entries with all three credit bureaus. The original account should show as a paid collection and the other collection account should be removed from your credit report entirely.
Is it legal for a creditor to place a consumer disputes account statement on your credit report?
yes and really you should do it yourself if there is a dispute. When a lending institution or merchant looks at your report and an account is past due, you want an explanation as to why it is not being paid.
How do you remove charge offs from a credit report?
Charge-offs remain on your credit report for 7 years. If the account has been included in a bankruptcy, it should be marked as such...."included in bankruptcy". However, according to the Fair Credit Reporting Act, if you dispute the charge-off with the credit bureau and the creditor can not verify the account, it must be removed from your credit report immediately. Only the original creditor or the credit bureaus can remove a charge off, either through negotiations or through the dispute process.
If your account is sold to a collection agency how to do you find out when it was sold and how old the account is?
When the collection agency contacts you, they have to give you the opportunity to request information concerning the debt. You will have thirty days to send a written request to dispute the debt. And to ask for confirmation of the original creditor, the amount owed, when the account was remanded to the agency, etc.
Credit Report Agency says account accurate creditor wont provide you with accurate documentation What do you do to get it off your credit report?
Apparently the dispute may not been handled properly. Your next dispute letter should go to both the credit bureau and original creditor at the same time stating damages. There are sample letters available for you in good books but you must understand the dispute process first. Most consumers cause themselves more damage by not understanding the credit challenge process.
