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Wrong balance on CR

Submitted by Borrower on Thu, 03/07/2013 - 18:34
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Long story short, I had overdraft protection on my checking acct at TDBank. I failed to make payments and they closed my checking account. AFTER the account was closed, an ACH transfer was made into my account. I know from the dollar amount on collection letters I received that the ACH transfer was applied against the overdraft line.

The TL on my CR shows a balance way higher than what I know the outstanding amount owed to TDBank should be. I disputed the TL with the CRA, but it came back with a still higher amount, I guess reflecting accumulating interest.

What steps do I take to get this off my credit report, based on the incorrect info?


ACH transfers/debits are possibly not covered by overdraft protection. I cannot tell you about TDBank but in case of my credit union, this is true. Assuming that to be the case, the information being reported to the CRAs is not incorrect. If you want to tie up all the threads and get a better picture, you can hit TDBank with a DV request.


Submitted by Steve Barris on Thu, 03/07/2013 - 19:01

Steve Barris

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Thanks SoapLady.

It's not just interest -it's not reflecting the money they received after the checking account was closed. It's off by about $2000 - way more than the interest would be.


Submitted by Borrower on Mon, 03/11/2013 - 08:22

Borrower

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Maybe I wasnt clear.

The ACH transfer went IN to the account and they kept the money, since the checking account was closed.

I know the balance on CR is wrong. I'm just not sure what steps to take.

So I write them and do and ask them to validate the amount. Then what?


Submitted by Borrower on Fri, 03/08/2013 - 08:08

Borrower

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No, you were clear....I dont think english is Steve Barris's first language.

There will be late fees and interest acruing with your charged off balance...maybe that is why your balance is higher???


Submitted by SOAPLADY on Fri, 03/08/2013 - 16:01

SOAPLADY

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