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If a creditor reports false information to the credit bureau and refuses to change it can you sue for malicious libel or is it only for incorrect credit reporting with the FCRA cap of 1000 dollars?
Wiki User
∙ 18y ago
If the creditor reports false information then all you need to do is dipute this with the 3 major credit bureaus, experian, equifax, and trans-union. Screw the creditor b\c if they can't prove it, the bureaus take the information off. Cut them out of the loop entirely, suing them is only going to cost you money. The previous answer is naive. A lot of creditors refuse to correct erroneous information. Many times when the credit bureau contacts the creditor after your dispute, some "law of minimum effort" jerk who gets $8.00 an hour just sends back an e-mail to verify without bothering to do the work. Sometimes they're just plain mean. All a credit bureau can do is report what is given to them by the creditors -- garbage in/garbage out. You can sue them for actual damages, to answer your question.
Wiki User
∙ 18y ago
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What you do if you cannot locate a creditor?
That depends on what you mean by "can't find or locate a creditor". If you get a copy of each of your credit reports, they will list the contact information for each of the creditors that are reporting any type of information about you on your credit report. if you cannot get a response from the creditor after locating their contact information on your credit report, then you may want to "dispute" the information with the credit bureau that is reporting the information. Simply write a letter to the credit bureau stating that the information being reported on XYZ account is not accurate. Please remove this information from my credit file. The bureau will contact the reporting creditor...if the creditor does not respond within a timely fashion, the information will be removed from your credit file.
How do credit reporting agencies collect information?
Credit reporting agencies collect their information from several sources including direct investigations, trade creditor and banking connections, and public and insurance records
Where do credit reporting agencies collect their information from?
Credit reporting agencies collect their information from several sources, including direct investigation, trade creditor and banking connections, insurance records, and public records
How do you correct errors in your credit report?
Even though credit reporting agencies work hard to keep your credit file up to date, it's still possible for errors to show up in your file. This includes incorrect, incomplete or outdated information. If you discover such errors in your credit report, you have the right - and responsibility - to correct them right away, since inaccuracies could hurt your score and could lower your chances of getting the loans and credit products you seek. If you find an error, or if you see evidence of fraud, you should file a credit file dispute: Contact the credit reporting agency that is reporting the item in question. You will need to tell them why you believe the information is incorrect and, if possible, supply any supporting documentation. The reporting agency will then investigate the disputed information. This includes notifying the creditor that supplied them with the disputed information that you believe the information to be incorrect. The creditor will then have the chance to review and investigate the information in question and report back to the credit reporting agency. When the investigation is complete, the credit reporting agency will notify you of the results and make any necessary changes to your credit file. You should then obtain a current copy of your credit report to verify that all the information is accurate. For more information on specific steps to take, visit: http://www.equifax.com/online-credit-dispute/ provided by Equifax.
Collection acct removed but original creditor still remains?
Yes, reporting to your credit by a collections agency does not effect the reporting originally made by your creditor. It most normal cases you would see the original creditor having reporting the account as a "charge off" regardless of any reporting made by a collections agency afterwords.
How do you get wrong information off your credit report?
Go to the website for the credit reporting bureau (the major ones are Equifax, Experian and TransUnion) that has the error. There will be a link to the form to request a check of the incorrect entry. The agency will send the form to the creditor and ask for a correction or confirmation that it is correct. If the creditor says it is correct, you can place an objection or your explanation why it is incorrect on your report. That will go out with the credit report whenever it is requested. I suggest making sure you have a proper objection before you do that. Consult a local lawyer.
Can a creditor misrepresent themselves on the credit report?
Misrepresenting any form of information in a credit report is incorrect and a crime too. Irrespective of who is misrepresenting the information, doing so is wrong.
How does a creditor know where and what bank account to freeze?
The banks send your information to the major credit reporting agencies. In order to freeze your bank account the creditor must obtain a court order to collect on a debt from you. With that court order they can get your account information from the bank to process the freeze/collection.
How soon after you are denied credit must you receive notice both verbally and by letter?
If you are denied credit, the Equal Credit Opportunity Act requires that the creditor give you a notice that tells you the specific reason your application was rejected or the fact that you have the right to learn the reason if you ask within 60 days. If your credit application was due to information obtained from your credit report, the Fair Cedit Reporting Act requires the creditor to give you the name, address and phone number of the credit reporting agency that supplied the information. The credit reporting agency can tell you what is in your report but only the creditor can tell you why your applicaton was denied.
Dfd on credit report?
Sounds like defaulted abbreviated by reporting creditor.
How do you dispute a chargeoff account that the creditor refused to validate?
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.
If a US creditor is not reporting a credit card to the three major credit bureaus because of a foreign address will delinquency in payment also stay off of one's credit report?
ANSWER That is correct. If the creditor is not reporting to the major bureaus there is no report... good or bad.
