First, let me explain how the "game" is played.
Credit reporting agencies can not change or delete any information on your credit history unless 1) the creditor authorizes it....2) the creditor fails to respond back to a verification investigation from the credit bureau.
There, the responsibility of correcting your credit report falls on the creditor.
To get this corrected, you need to follow a very specific procedure, as outlined in the Fair Credit Reporting Act.
1) Send a letter to each of the reporting companies that are listing this debt, and dispute the listing. Include a copy of the pay-off letter from the creditor. Be sure to send this by certified mail/return receit.
2) Send a letter to the creditor demanding that your record be updated within 30 days, or they will be in violation of the FCRA.
If nothing happens within 30 days, send another dispute letter to the credit bureau, along with a copy of the letter you sent to the creditor.
If it's still not changed, you can now sue the creditor for posting incorrect information to your credit report. It's a simple small claims suit and you will win $1000 with no problems.
But you gotta know how the game is played...so read the links below.
2006-08-02 08:57:08
·
answer #1
·
answered by Anonymous
·
1⤊
0⤋
You need to contact the main credit agencies. When you speak with them, get their address details and which department you should send a copy of your statement which states you have paid the debt.
I believe credit companies are required to update your credit history every month, so a year with no update is unacceptable. They do this at a certain date each month, so if you contact them after the date that they update records, you may not see a change until the following month. Make sure you ask each company to send you a confirmation letter stating it's been corrected otherwise, if you apply for a loan or any type of credit, it will slow the process down.
2006-08-02 01:11:36
·
answer #2
·
answered by bunny942001 3
·
0⤊
0⤋
Yes it is the responsibility of the credito to update his account.
You take up with them once again. If they do not respond issue a legal notice with all the documentary proof you.
My Experience:
I had closed a credit card account. The bank owas issuing statement showing a negative balance, which was wrong. I took up with them to repay. The had not responded but pestering me with statements. I ssueda lega notice asking them to pay the credit available in my card together with interest and incidentals. That was the end.
2006-08-02 01:09:53
·
answer #3
·
answered by Anonymous
·
0⤊
0⤋
With the last balance statement, make the copy of it. Send them with correct information with certified mail( importtant) that is your proof.You should be able to request a change to your credit report
The credit beaurau requires by law having 30 days to answer your request to make amend to your credit report.If they do not answer you in 30 days. You win your case.
2006-08-02 01:25:11
·
answer #4
·
answered by Hoa N 6
·
0⤊
0⤋
call the creditors you pay shw them the proof you have because they are masting up your crdit they didn't claim that you pay they are ******* you up over. i did the same thing i paid my bad credit but it did show in my credit report about 2 weeks but in your case is like you never paid anything so you better do something about this fast . or get a lawyer to get this straight out
2006-08-02 01:08:02
·
answer #5
·
answered by Anonymous
·
0⤊
0⤋
Contact the three credit reporting companies with your correction.
2006-08-02 01:04:52
·
answer #6
·
answered by Anonymous
·
0⤊
0⤋
Contact the 3 main credit bureaus and tell them whats what.
2006-08-02 02:13:53
·
answer #7
·
answered by dt 5
·
0⤊
0⤋
contact the credit card company and have them correct it. if they won't u can dispute it with each credit company.
2006-08-02 01:04:46
·
answer #8
·
answered by cyndi_035 3
·
0⤊
0⤋
Contact them, and tell them that your information needs to be updated, and they will do it.
-----------------------------------------------------------
http://www.bestcreditrates.net
2006-08-02 01:23:27
·
answer #9
·
answered by Anonymous
·
0⤊
0⤋