Credit Report Inaccuracies Resolution

Summary

Furnishers must report accurate information to credit reporting agencies under the fair credit reporting act (fcra). If your original balance was incorrectly reported, it could be a violation. Since youve disputed the inaccuracies and they were corrected, you have taken the right steps. If concerned about prolonged incorrect reporting, consider consulting a lawyer for further action.

Full Conversation

I have an issue with a credit report and a furnisher updating inaccurate information. I want to know if any of these changes they have made and reported violate FCRA laws or are inaccurate. Can you help with that?
Hey ****! To determine if your rights under the Fair Credit Reporting Act (FCRA) have been violated, here are some key points to consider:
- Furnishers must report accurate information to credit reporting agencies.
- You have the right to dispute inaccurate information.
- Furnishers must investigate disputes and correct inaccuracies.
Have you already disputed the inaccuracies with the credit reporting agencies?
Yes. But I want to be sure what inconsistencies I am reporting are valid. Can I run them by you to compare to FCRA law and Metro * guidelines?
Sure, feel free to share the inconsistencies you're concerned about. I'll help you by comparing them to the Fair Credit Reporting Act (FCRA) and Metro * guidelines.
Background info:
Case Rating: *
If you have specific inconsistencies or inaccuracies you've identified, please share them, and I'll help determine if they align with potential FCRA violations and Metro * guidelines. Feel free to provide details on what you believe is incorrect.
Background info, the account in question MAC is an account opened on */*/*. It was reported charged off on */*/*. * payments were made. The original loan balance was *. The total sum of payments per contract (including finance charge, interest rate *.*%) was *. I will in my next message begin with the inconsistencies.
Case Rating: *
Sure, ****! Go ahead and share the specific inconsistencies or inaccuracies you've identified. I'll help you compare them to the Fair Credit Reporting Act (FCRA) and Metro * guidelines.
My “original balance” was listed as $*,* dollars from */* to */* is that a violation?
Case Rating: *
It sounds like there might be an inconsistency in how your original balance is reported. Under FCRA, furnishers must report accurate information. If the original balance is incorrectly listed as $*,* instead of $*,*, it might be a violation. Have you raised this specific issue with the credit reporting agency?
Yes. They corrected the balance to $*,* however there were 4 years of it reporting $*,*
Case Rating: *
It seems like you have a strong case for disputing the reporting inaccuracies under the Fair Credit Reporting Act (FCRA). If you’ve already raised the issue with the credit reporting agency and it’s been corrected, that’s a good step. However, if you are still concerned about a violation due to the prolonged period of incorrect reporting, you might consider consulting a lawyer for further action. Would you like additional information on how to proceed?
They reported the charged off amount as $*,* from */* to */*. After dispute they changed the charged off amount to $*,*.
Case Rating: *
It seems like you have already taken appropriate steps by disputing the inaccuracies. The prolonged misreporting and subsequent change in the charged-off amount could potentially strengthen your case under FCRA. If you're considering legal action, consulting with a lawyer might be beneficial. Would you like more information on how to proceed?