Here is the situation...I have a real estate trade line that is 6 years old with a couple of lates. I have a letter and UDF from the company saying that the lates should be deleted. I sent it in and Equifax put it under investigation. I called and the rep said, fax it to me and I "will take care of it". I did fax it, but she didn't do anything! I called again but Equifax says that a UDF and letter isn't good enough and the investigation still must take 30 days... :shock:
I just faxed them an ITS saying that they have 24 hours to comply since both the creditor and I told them that the info is wrong.
Anybody have a guess what will happen?
Well, technically, they DO still have 30 days to take care of everything. Of course, they must use and consider your information. Chances are they will still delete it. They havent violated anything yet...sit tight.
I know it sucks because you have the frigging proof waving in their faces, not to mention the question of HOW it could possibly take 30 days to do soemthing this simple...but legally, they still have the full 30.
Hnag on...it'll work out.
Are you sure that they have 30 days? They have recieved notification from the mortgage company to update and from me to update. I will have to check the FCRA, but I think that they don't have 30 days when they have proof that they are reporting incorrectly...
J....Going off to check the rule now....
Here it is...
(5) Treatment of inaccurate or unverifiable information.
(A) In general. If, after any reinvestigation under paragraph (1) of any information disputed by a consumer, an item of the information is found to be inaccurate or incomplete or cannot be verified, the consumer reporting agency shall promptly delete that item of information from the consumer's file or modify that item of information, as appropriate, based on the results of the reinvestigation.
Certainly this means that they must delete or correct now since they have the same material from both me and the mortgage co!?!?!?!?
oops, wrong place... :oops:
There is the key word reinvestigation...that's what they are doing. If a creditor contacted them directly, they would have to immediately update the info...the parameters of the word reinvestigation allow them the full 30 days.
Maybe someone will disagree....I personally agree with you, but in the wordings of the law, there is nothing that keeps them from using the full 30 days for an investigation.
This is also not to say that your demand wouldnt work...it may.
In this situation, they received info from YOU from the mortgage, which I think should count all the same...but unless the mortgage co. contacted them directly, it is still "info that comes from you"...which, by all means is still applicable, dont get me wrong. It just still entitles eq to investigate.
Now I understand the confusion...The company DID contact them directly. They sent me a letter that basically says...
We have sent the attached UDF to Equifax on July 9, 2003. This will update your credit report to indicate no late payments and paid in full. If you have any questions...blah blah...
I sent a copy of the letter and UDF to Equifax, the rep I talked to confirmed its receipt from the mortgage people and from me.
Sorry for the confusion!!
What the hell...send ITS!
Like I said, you will probably get the response you want.
Now which rep from eq said they recieved the info from the company and you...the first rep? Or the second one...I am guessing it was the second one...inwhich case, they couldnt tell you the info didnt matter because the creditor DID in fact contact them to have the info reported correctly.
I dont even think fcra covers info submitted directly by furnisher if it doesnt involve a dispute from consumer...providing that the mortgage company sent the info before you contacted eq about it.
Give em hell, lol...