Got a question about getting things removed from Credit Repo
Date: Tue, 03/11/2008 - 05:59
Hi,
I recently sent a letter to one of my debts asking them to remove the item form my credit report. Yes is was a negative item but I paid it off in July 2007. I do not see a point of having it on there anymore since I do not have the credit card anymore. They sent me a letter back stating this:
"We are in receipt of your letter requesting Continential Finance to reconsider the reporting of our trade line tot he credit Bureaus. Unfortunately, we are unable to honot your request. We have a legal obligation to report all payment history accurately to the three credit reporting agencies."
First off my letter never stated anything about the reporting trade line. My letter simply asked them to delete it form my credit report.
Second, do they really have a legal obligation anymore since the account is paid off and closed? I don't have the card anymore. Any help would be great. Thank you.
I recently sent a letter to one of my debts asking them to remove the item form my credit report. Yes is was a negative item but I paid it off in July 2007. I do not see a point of having it on there anymore since I do not have the credit card anymore. They sent me a letter back stating this:
"We are in receipt of your letter requesting Continential Finance to reconsider the reporting of our trade line tot he credit Bureaus. Unfortunately, we are unable to honot your request. We have a legal obligation to report all payment history accurately to the three credit reporting agencies."
First off my letter never stated anything about the reporting trade line. My letter simply asked them to delete it form my credit report.
Second, do they really have a legal obligation anymore since the account is paid off and closed? I don't have the card anymore. Any help would be great. Thank you.
FCRA just says they have to report accurate information if they
FCRA just says they have to report accurate information if they do report. They can delete it, but that is only if they choose to, unless you had entered a contract with them (of your design or theirs) of a pay for delete nature. At the very least they would need to include payments you have made in their monthly reports.
Quote:I do not see a point of having it on there anymore since I
Quote:
I do not see a point of having it on there anymore since I do not have the credit card anymore. |
Negative info stays because it helps other creditors assess the risk you pose according to a complex algorithm...it is not removed because it is convenient for you.
Quote:
First off my letter never stated anything about the reporting trade line. My letter simply asked them to delete it form my credit report. |
Yes it did...that is exactly what you asked for.
Quote:
Second, do they really have a legal obligation anymore since the account is paid off and closed? I don't have the card anymore. Any help would be great. |
This entry can remain for seven years from the date of delinquency (or charge off). The creditor is not required to report anything...it is only required to report accurate information if it chooses to report at all. You can try to dispute the entry with the credit bureaus. If your dispute fails, you may try to dispute again, but for a different reason.
If a company has gone out of business, should thier negative rep
If a company has gone out of business, should thier negative report still be effecting me.
Yes. Your credit report is a history tracker as well. If you hav
Yes. Your credit report is a history tracker as well. If you have defaulted in payments with a creditor in the past. It can stay on your credit report for up to 7 years.
??
I would try disputing it and see what the outcome is.
