I have been trying for the past two years to clear up a paid off collection and my payment history with my two credit card companies (Fleet and Discover). I received letters from both companies stating that I have never been late with their company. For example, I called Discover to dispute the lates on my credit report (july of 2002). I had them fax and send me a letter stating that my account with them was never late. I then sent the letter to Equifax to dispute the claim. They then sent me back a few months later a revised credit report showing no lates, then a year later I pulled my credit report (I work as a mortgage broker so I have access to my own report) to find that my Discover account has the same report.
This seems completely assinine. As a mortgage broker and consumer, we are at the mercy of these reporting agencies, and their accuracy in reporting. If I can dispute paid collections and late payment history, which is so easily done with hard paperwork from the orginial creditors or collectors, then why do I find it very disturbing that the same erroneous report is being shown today. This has caused me to miss my window of opportunity for buying a home with the best possible loan program.
As of 3/10/2004, both accounts from Fleet and Discover, as well as a paid collection, is not showing being paid off when I sent them via fax and mail that these accounts are reporting wrong and all collections are paid. Lenders and banks need these companies to report correctly because it is causing lost business. There is got to be something us consumer can do to repair or fight with these reporting agencies. If anyone has any information on how to pursue a suit against these companies, please contact me by using the rebuttal box below. CLICK here to see why we deleted either a phone number, link or e-mail address from this Report.