Request to Remove Derogatory Mark Denied
Date: Fri, 07/17/2009 - 08:33
The purpose of my correspondence is to see if you would be willing to make a “goodwill†adjustment on the reporting of this account to the three major credit agencies (Experian, Equifax and TransUnion).
During the time period this account was established I was very happy with the service; however, I was not the ideal customer and made mistakes with my handling of the account. I should have kept better records regarding the account and I take full responsibility. I became aware of the unpaid balance when I got a copy of my credit report in April of 2009.
I know that payment was my responsibility and I am not attempting to justify this breach of my user agreement, I was however hoping you might review the circumstances under which this non-payment occurred and consider removing the negative trade line associated with this account from my three credit reports.
As soon as I became aware of the balance I contacted American Honda Finance and paid the balance in full. I provide this not to justify why the account was unpaid, but rather to show that the issue with American Honda Finance is not a good indicator of my actual credit worthiness. I hope that American Honda Finance is willing to work with me on erasing this mark from my credit reports or showing that this account has always been current and in good standing.
I would like to STRESS that the information currently being reported IS accurate, (I am not disputing anything with American Honda Finance). I am simply asking American Honda Finance for a courtesy gesture of goodwill in having the credit bureaus remove the negative listings from my report. I do recognize that this request is unique and that it may not be American Honda Finance normal policy. Please consider that the Fair Credit Reporting Act does not demand that all accounts be reported, only that any account that is reported be reported accurately. Therefore, a company does have legal discretion and permission to remove any account it chooses from the credit report. I'm hoping that American Honda Finance will do that in my case for this account.
I just received a notice in the mail saying that the request was denied because the information is correct and that it was accurately reported to the credit reporting agencies. Is there a follow-up letter that I can send them because the negative marks are really making it difficult for me to obtain a loan or even a credit card! Please help!
If that is their policy, they are within their legal rights to d
If that is their policy, they are within their legal rights to deny you. No much you can do.
If it is accurate, then they are obligated to report it. They c
If it is accurate, then they are obligated to report it. They cannot remove a negative mark simply because you want them to.
What you should have done is dispute the negative mark with the three credit bureaus. Once you dispute a mark, they have 30 days to verify its accuracy. If they cannot verify it or simply run out of time, they have to remove it from your report. This is all "credit repair" companies do. They bombard the credit bureaus with denials and hope to get lucky that they don't want to verify it that day. Sometimes if you can get one reporting agency to remove it, you can then send that information to the other two. If they see it removed, they often remove it too just to save themselves the work. Of course, this can only be done once every 30 days which is why "credit repair" companies charge a monthly fee.
Try that approach. You have nothing to lose, but save your money and do it yourself. There are many sample letters out there to show you what to write. Just make sure you send it certified mail so you have proof of when it was received and can count down the 30 days.
thanks for the info! i've been using the sample letters from www
thanks for the info! i've been using the sample letters from www.debtconsolidationcare.com to send out debt verification letters, etc.
should i still send the dispute letter to the credit bureaus even though the OD is saying that it is valid?
Absolutely. Like I said, you have nothing to lose. But only do
Absolutely. Like I said, you have nothing to lose. But only do one every 30 days. If they receive a whole stack from you, they can deem it frivolous and just deny your request flat out.
thanks for the feedback! i'll try it and let you know :)
thanks for the feedback! i'll try it and let you know :)
Yeah, the best way to have taken care of that is to negotiate fo
Yeah, the best way to have taken care of that is to negotiate for a pay-for delete, which is an agreement by them that if you pay off all the past due balance then they will remove the negative tradeline. Unfortunately, at this point I honestly doubt that they will remove it - nor do they have to.
And the credit repair companies are under huge fire for just that behavior. They have been aggressively pursued by the FTC. It's like the annoying guy at the club saying over and over to a girl "just one drink! one!" (in best Dane Cook voice). If the bouncers toss him out, he has only himself to blame...
Not to mention, it makes the CRAs very defensive when someone has a legitimate dispute, and so therefore *hurts people*.
you're right, i should have negotiated with them first before i
you're right, i should have negotiated with them first before i settled the overdue amount. i disputed this account with the credit bureaus online yesterday and my understanding is that they have 30 days to investigate the dispute, after which they have to remove the negative marks on my file if they are not able to validate it with the original creditor.
i'm hoping that experian, equifax and transunion have too many files to attend to that the 30 days lapses and they just end up making everything positive **crossing my fingers**
quick question ... is the 30 days 30 calendar days or 30 business days?
30 calendar days. Usually 1 of the 3 will not verify the debt.
30 calendar days. Usually 1 of the 3 will not verify the debt. If that happens, then send a copy of their report to the other 2. This sometimes works to get it removed.
[font=Arial][/font][color=Blue][/color]Thanks for starting this
[font=Arial][/font][color=Blue][/color]Thanks for starting this post. I am trying to do the same thing for an old vehicle account we have. Please let me know how it turns out for you.
GL
Chrissy
As per el_suavo and Chrys Henderson, I disputed this account wit
As per el_suavo and Chrys Henderson, I disputed this account with the credit bureaus on 07/20/2009. The results are still pending, of course but at least they all gave expected dates.
I'm keeping my fingers crossed. As soon as they give me any kind of results, I'll post it here so I can update everyone as well.
Chrissy, what have done so far to try and get the negative marks off your file? :?:
I just got an email from Experian this morning, saying that the
I just got an email from Experian this morning, saying that the result of the investigation is not available for viewing.
Basically, I disputed my Honda account wherein I was 60-90 days past due but now current -- the outcome of the investigation remains and that the item has been verified as accurate.
Are there any other next steps I can try? Should I hire a company like Lexington Law just to keep the good accounts but to take of the months that I was late?
I would still wait for the other two to see what they say. If a
I would still wait for the other two to see what they say. If any of the others cannot verify it then you should show that to Experian.
I actually have used Lexington Law in the past. They worked great but are very expensive.
Joint
I was getting a divorce but it was uncontested and she agreed to pay the bill for our furniture. Well it was 120 days late and is now paid off. But I have a divorce decree stating she was responsible for the payment. Experian did the same thing-the outcome of the investigation remains and that the item has been verified as accurate.
Because this was a joint account will that affect the outcome? And if it is removed will it also be removed from my ex-waife's credit report?
Quote:Originally Posted by el_suavoIf it is accurate, then they
Quote:
Originally Posted by el_suavo If it is accurate, then they are obligated to report it. They cannot remove a negative mark simply because you want them to. What you should have done is dispute the negative mark with the three credit bureaus. Once you dispute a mark, they have 30 days to verify its accuracy. If they cannot verify it or simply run out of time, they have to remove it from your report. This is all "credit repair" companies do. They bombard the credit bureaus with denials and hope to get lucky that they don't want to verify it that day. Sometimes if you can get one reporting agency to remove it, you can then send that information to the other two. If they see it removed, they often remove it too just to save themselves the work. Of course, this can only be done once every 30 days which is why "credit repair" companies charge a monthly fee. Try that approach. You have nothing to lose, but save your money and do it yourself. There are many sample letters out there to show you what to write. Just make sure you send it certified mail so you have proof of when it was received and can count down the 30 days. |
Is this really all there is to it? Send a dispute to all three credit agencies every 30 days? I've been trying goodwill letters but not feeling great about that strategy and the first round of letters were unfruitful.
If for some reason they consider the repeated disputes frivolous, is there any implication of that? Is my credit file red flagged or otherwise impacted?
