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Posted: Tue Jan 16, 2007 8:16 pm Subject: Disputing stuff on CR

I am paying a company to clean up my credit and I got my 1st report back fron TransUnion. It has 3 deletions and verified, no change. What does Verified, No change mean? Does this mean that they still have to fight it or will it come off?

Thanks

Posted: Tue Jan 16, 2007 8:27 pm Subject:

I may be wrong, but I think that means the credit reporting agency has verified a disputed account with the creditor, and no change means the info. will remain as is.

Someone please correct me if this isn't right!

Posted: Tue Jan 16, 2007 8:27 pm Subject:

swank - I believe "verified - no change" means that the credit bureau in question has investigated the item you disputed, and found it to be a valid entry on your report, and therefore, did not change the status of that entry.

However, I'm not a credit expert - that's just the way I see it from a layman's point of view. I'm sure other members here with more knowledge of the credit reporting system will respond with additional info. Please keep an eye on this thread for more info.

Posted: Tue Jan 16, 2007 8:29 pm Subject:

OK, thanks for the help.

Posted: Tue Jan 16, 2007 8:59 pm Subject:

I'll put my 2 cents in, since part of my job is to verify my own customer's credit disputes.

When you dispute your credit report directly with the bureaus (ie Transunion), they compile an ACDV (Automated Credit Dispute Verification). The ACDV is basically a report showing 1) your name, address, social, DOB; 2) a snapshot of the way a particular account is currently being reported to the bureaus by a data furnisher; and 3) the customer's dispute / reason why you disagree with the credit report. After they compile the ACDV, the bureau sends the dispute to the company who put the information on your credit report.

Now, when I (as a data furnisher) receive an ACDV from the bureau, it is my duty to verify that the information I am reporting is correct. I basically have three option when responding to your ACDV: 1) if I know and can verify that the information I am reporting is accurate, I can select "Accurate As Of Date Reported." In this case, your credit report will not change; 2) if there is a discrepancy on your credit report, I can select "Modify Account Information," and then I can go change whatever fields are incorrect and your credit report will be updated; or 3) I can choose to "delete" the account, and it will be reomved from your credit report. I have 30 days from the time you submit your dispute to do one of the above options, or it will automatically be deleted.

Large companies, who have so many disputes coming in and not enough manpower to keep up with the verifications, may opt to just hit the "delete" button to save themselves time and aggravation. However, if a company has the time and manpower to dig into your file and verify the information, they can leave it on your report if they know it is accurate.

In your case, it appears 3 of your creditors chose to delete the accounts, while one of them took the time to verify it. Since they verified it, it will stay on the credit report for the time being.

Posted: Tue Jan 16, 2007 9:11 pm Subject:

PS, I look back to one of my first posts on this board that is kind of similar. You can go read this post for a couple tips on disputing:

http://www.debtconsolidationcare.com/credit-repair/disputing-items.htm l

Posted: Tue Jan 16, 2007 9:15 pm Subject:

Thanks for clarifying, DebtCruncher!

Posted: Tue Jan 16, 2007 9:17 pm Subject:

Thanks for the info. How does a CA verify a debt that is 3-4 years old? Also, I had a repo voluntarily that I settled with in Summer 06. The CA told me that when I settled that Ford would remove the item from the CR. I checked the CR about 2 months later and it was still there. I called the CA about this and they said to call Ford. I called Ford and they said they would remove it. Ford didn't follow thru with what they said they would do. I know one thing, when all this is cleared up, I will never get into this situation again. Again thanks for the help.

Posted: Wed Jan 17, 2007 3:26 pm Subject:

Here is something that you may want to keep in mind. If there is something that you don't want updated on a particular account, leave it alone. For example, lets say you had a repo a couple of years ago. For the most part, the account has been current the last couple of years. Maybe a few late pays or 30 day lates. And in your excitement to clean up your credit and see if you can get a few points added to your score you go about disputing information. They will update the account to include the repo... So watch out what you dispute

Posted: Wed Jan 17, 2007 3:26 pm Subject:

OH yeah, I forgot to mention, the repo was NOT showing on the credit report before the dispute.

Posted: Tue Jan 30, 2007 2:57 pm Subject:

Here's something about disputing items online. I disputed a couple of items in the past and they came back verified. This was done about 2 or 3 months ago. I just went back in and tried to dispute them again saying they are not mine. Now the credit bureaus are giving me an error message that says they already investigated this item and it was verified. How do I get around this? Send them something by mail? If I do that, won't they say the same thing?

Posted: Sat Feb 10, 2007 10:54 pm Subject:

It would be worth the try. I think things on the internet are too automated. When you send to an agency you will probably get a human being to at least read it. ALso, you need to contact those creditors about the accounts not being yours... otherwise its your word vs theirs.

good luck!!!!!!!!!!!!

Posted: Wed Feb 14, 2007 1:24 pm Subject:

Here is a link for credit repair (see below). There is good info on this web site.

Signature link removed because it's already in the www button - Mike.

Posted: Wed Feb 14, 2007 1:50 pm Subject:

When they verify it is usually automated. Normally I would sebd in a written dispute to them.If they verify send in MOV letter. Method of verification. It can be a good idea in certain situations to dispute with the data furnisher and have them update report with correct info.

Of course if you owe them money,might not be a good idea! Everyone that is trying to clean up their reports should read the fair credit reporting act at www.ftc.gov. Federal law that governs everything that goes on consumer reports.

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