My old bank that has been bought out by another bank had reported to Equifax that I owed $$. I disputed it with the old bank but it's still on my report. The new bank says they cannot help me.All I get is the run-around from everyone I've spoken to. If anyone knows how to resolve this PLEASE answer back.
2006-09-15 05:24:24 · 7 answers · asked by blondiel 1 in Business & Finance ➔ Credit
Have you written them a letter?
Send it registered, request a return receipt.
Be sure it contains all the facts and "copies" of any correspondence and receipts.
Give names of anyone that you've spoken to, and dates.
I've never failed to receive a prompt reply from letters.
When a bank buys out another, the new bank assumes all the debts and all the receivables from the old bank, just as a business does.
If your new bank has no "receivable", a debt owed by you, then it must not exist.
Tell them that.
2006-09-15 05:41:58 · answer #1 · answered by ed 7 · 0⤊ 0⤋
Trust me....you can talk to them all you want and it will NOT get the bad entry removed.
What you need to do is learn the law, and learn how the "game" is played. If you need help contact me.
For starters, who ever posted the bad entry to your report is responsible for validating it (proving it's your debt).
When you contact Equifax (by certified mail, return receipt) you dispute the entry, and give a reason why you are disputing it. They have 30 days to contact whoever posted this entry (ie, the old bank) and "verify" the debt. That simply means they are asking if the debt is legitimate, and it's your debt.
Note that no real investigation ever takes place at this point.
If the bank does not respond back to this "verification" request, then the item must be deleted from your credit report.
If it is verified, then obviously somebody has to have records of your debt, otherwise how did they verify it?
Your next step is to send a "demand to validate" letter to whoever posted this to your account. The address will be on your credit report. (It must be there because that is where the CRA contacted to verify the debt).
When you "validate" a debt, you are demanding that they send you copies of all bills, receipts, contracts, and everything that was used to calculate what they claim you owe. They must show that you have a legal obligation to pay this debt.
If they do not respond back to this letter, or the information is not sufficient to prove the debt, then send a second dispute letter to the credit reporting agency demanding to remove the debt due to "lack of validation".
If it is still listed after 30 days, you have now completed the legal process required by the Fair Credit Reporting Act. File a small claims suit against both the creditor and the credit reporting agency for $1000 each. If this bad record has caused you to lose a loan, or to pay higher interest rates, or any other damage, you can add that to your lawsuit also.
You will not need a lawyer to do this. I did this several months ago and won $1200 for my efforts.
If more people would just educate themselves on the law and fight these jerky creditors, then it would go a long way in cleaning up the credit reporting business.
2006-09-15 13:28:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Equifax 866‑640‑2273 Press 3 0.
2006-09-15 05:39:04 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
Have you been to the Equifax website and obtained your FREE Credit Report?
If you haven't then you will need to do it. Just click on the "Login" link and create a free account. Just don't opt for any of the options that they want you to buy in addition to the free report.
http://www.equifax.com
Here is what they say on their "Online Dispute" page down towards the bottom in the "Telephone" pane.
"A toll-free number is listed at the bottom of your online Equifax Credit Report.You must have your 10-digit confirmation number to speak with a customer service representative via telephone."
2006-09-15 05:47:17 · answer #4 · answered by Dick 7 · 0⤊ 0⤋
Who is a real person, is the person you see as real and first, see yourself as a real person and you will be talking to a real person and you will feel free because of the reality of your mind. It is not enough to just say you dont owe the said amount, take your evidences and the evidences as you take it to them decide the case even as i pray for you to be given a hearing.
2006-09-15 05:32:02 · answer #5 · answered by Anonymous · 0⤊ 1⤋
When you telephone them, keep pressing zero until a human answers. Good Luck.
2006-09-15 05:27:16 · answer #6 · answered by veus 2 · 0⤊ 1⤋
I'm interested in this as well
2016-07-27 12:41:00 · answer #7 · answered by Anonymous · 0⤊ 0⤋
listen to all the options, if at anytime it says speak with a csr, or dispute a charge, pick those options
2006-09-15 05:32:21 · answer #8 · answered by Anonymous · 0⤊ 1⤋
Keep pressing zero until you get a human. If it asks you to talk at any time, say operator.
2006-09-15 05:29:52 · answer #9 · answered by 4eyed zombie 6 · 0⤊ 2⤋
That is a good question I hope you find valuable answers
2016-08-23 06:53:13 · answer #10 · answered by Anonymous · 0⤊ 1⤋