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ddamage

Respectfully Requesting your help

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also remember, if you thought that you brought your account current and the check bounced you didn't. Also, if they got you on the phone and got you to make a small payment to indicate "good will" of $25 or so, that does not bring your account "Current"... they are trying to set a date of last payment by "reaging" your account when it is ready to go into the 180 days and it does not make it current...

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Now it seems harder then hell to just plain old Buy them/ they throw every curve ball at you to accept the free ones... Yes... make sure you Pay for them then you will know they cant have 45 days to verify

I've had some issues with this myself, actually. I wanted to get my reports by mail, and I wanted to pay for them rather than using my free report (30 days vs. 45 for the CRAs to respond to disputes). For EX, I ordered by phone and chose the option for buying it, not my free annual one. I put in my credit card info and personal info. However, after telling me that I would recieve it in x days, it told me my credit card had not been charged because I had not used my free report that year. I've run into similar problems with TU and EQ. I'm just going to wait until I get these free ones in the mail, then turn around and order them again from all 3 CRAs, this time paying for them. In the meantime, I can use these reports to delete old addresses.

 

While USAA may be good for monitoring, I'm not going to use them for repair/disputes.

 

That's the point I'm trying to make It's as if the CRA's are now geared to push FREE reports. Just an opinion. I prefer being able to hold them to 30 days in a dispute. I also prefer to do it by MAIL only

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Im old school creditboards and back at it... I have to do the same when it comes to the reading, some things have changed. I haven't seen much talk

 

about Buying your Reports instead of getting the free ones....

 

When I first went to Creditboards school It was commonly stated that the free ones gave the CRA 45 days to validate or delete... If you buy them its

 

only 30 Which may up your chances for deletion,,, GOOD LUCK and obsess yourself with reading

When you order your free reports through the US Mail, it is 30 days

 

 

 

 

4. Make Sure the Disputed Information Is Addressed

Within 30 days (45 days if based upon your annual free credit file), the credit reporting company should notify you of the results of its investigation. You'll need to obtain a new copy of your credit report to make sure that the inaccuracies have been corrected or removed.

If the disputed information has been resolved, you can have the credit reporting company notify anyone who received a credit report with the inaccurate information in the past six months (two years in the case of employers) of the corrections that have been made.

Edited by sirfranky

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Here it is in a nutshell. Some say seven years and some say seven and a half years. They are, in a sense, both right. Let's say your first missed payment is when you can't pay a credit card bill in January. Does the seven years start that day? No. The credit card companies will report it as late. On your credit card report it will show first as 30 days late. Then 60, 90, 120, 150 then 180. At 180 days the card is normally 'charged off'. So, the date of first delinquency would be the 180 days mark. 180 days is six months. Some companies would put off charging off the credit card, sometimes for years, hoping to not 'start the clock' so they would have more leverage over you, until that was changed to say that it had to be charged off at 180 days. So, seven years from the 180 day mark is correct. Since you originally waited 180 days (6 months) BEFORE it was charged off, technically you could say it's seven and a half years.

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Here it is in a nutshell. Some say seven years and some say seven and a half years. They are, in a sense, both right. Let's say your first missed payment is when you can't pay a credit card bill in January. Does the seven years start that day? No. The credit card companies will report it as late. On your credit card report it will show first as 30 days late. Then 60, 90, 120, 150 then 180. At 180 days the card is normally 'charged off'. So, the date of first delinquency would be the 180 days mark. 180 days is six months. Some companies would put off charging off the credit card, sometimes for years, hoping to not 'start the clock' so they would have more leverage over you, until that was changed to say that it had to be charged off at 180 days. So, seven years from the 180 day mark is correct. Since you originally waited 180 days (6 months) BEFORE it was charged off, technically you could say it's seven and a half years.

Again, the CRAs almost always delete at the 7 year mark from the DOFD, and obsolete disputes can get them off as early as 6.5 years. If you look at the estimated falloff dates on EX and TU, they also use the 7 year mark.

 

There's no reason to make people paranoid that they have to live with these issues for 6 months longer than they have to when in reality, the CRAs don't use the 7.5 year timeline.

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Here it is in a nutshell. Some say seven years and some say seven and a half years. They are, in a sense, both right. Let's say your first missed payment is when you can't pay a credit card bill in January. Does the seven years start that day? No. The credit card companies will report it as late. On your credit card report it will show first as 30 days late. Then 60, 90, 120, 150 then 180. At 180 days the card is normally 'charged off'. So, the date of first delinquency would be the 180 days mark. 180 days is six months. Some companies would put off charging off the credit card, sometimes for years, hoping to not 'start the clock' so they would have more leverage over you, until that was changed to say that it had to be charged off at 180 days. So, seven years from the 180 day mark is correct. Since you originally waited 180 days (6 months) BEFORE it was charged off, technically you could say it's seven and a half years.

 

The DOFD in your example is not the 180 day mark, it's the 30 day mark. The statute itself says 7 and a half years from DOFD. Most account are CO'd at the 180 day mark, which means the latest they can be reported is 7 years from the CO. However, not all accounts are CO'd at the 6 month mark, which is why it is more accurate to say 7 and a half years from DOFD, rather than 7 years from CO.

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Thanks everyone. I appreciate everyone's take on the matter. I see that some of you have different ways of going about it.

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Thanks everyone. I appreciate everyone's take on the matter. I see that some of you have different ways of going about it.

Not really. Most everyone who knows what they're doing agrees you must use the real reports for credit repaur.

 

Take a look at the accumulated posts of those on this thread, and then take a look at the posts (inexperience) of the newbie trying to tell you to use the wrong information at a very high cost.

 

Notice any difference in experience?

 

Yep, newbies giving other newbies bad advice.

Edited by SBA

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I see Your accumulation of posts does not deem you an expert Hence not being aware that free reports are a 45 day validate time for the CRA"S \\\\\

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Correct, free reports are not the way to go. Reports purchased directly from the CRAs gives you the best chance at deletion.

 

I just added this to the Master Understanding SOL and 7 Year Reporting thread:

 

A couple additional points:

 

1. Although the law is 7.5 years, the CRAs generally use the 7 year mark from DOFD, as evidenced by the estimated falloff dates on EX and TU.

 

2. Obsolete disputes get them off much sooner than you mentioned with TU. Generally, TU will delete close to the 6.5 year mark, EX 2-3 months early and YMMV with EQ.

 

Instead of hammering newbies with the 7.5 year figure, it would be helpful to always include what I mentioned in 1 and 2. People often come here and are told that their derogatory accounts are going to stick around for 6 months longer than they thought, when the reality is the opposite.

 

In the spirit of helpfulness, share the technical AND practical reality in your posts.

http://creditboards.com/forums/index.php?showtopic=525885&page=2&do=findComment&comment=5053237

 

We shouldn't be posting about the 7.5 year timeline without also sharing the realities I posted as numbers 1 and 2.

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Hmm. Don't want to leave an incorrect posting on here. How do I delete the answer I gave above? Seems the date of first delinquency IS the date to use; that is, the official date is the first time you were late on a payment. If it can't be deleted just say that I'm standing corrected and ignore my previous response. Sorry. I think I had it in my mind to use the date of charge-off as the official date, just so that nothing could come back and bite me in the flowers. Collection agencies are such weasels I always used that date. Sorry for the wrong information.

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online reports through USAA or search for each one on google if you want to buy

 

Back when the feds forces them to give out free ones they asked for more time because they feared the onslaught So that's where the 45 day rule came from for freebies

 

 

online reports through USAA or search for each one on google if you want to buy

 

Back when the feds forces them to give out free ones they asked for more time because they feared the onslaught So that's where the 45 day rule came from for freebies

Bad advice. Do not use third party monitoring for credit repair. Ignore the man behind the curtain.

 

The question was Where to buy them online? Google them or pull USAA. That's not bad advice That's just one option. Bad advice is to get the Free ones and allow the CRA an extra 15 days to verify....

 

 

 

What do the CRA need to verify? This is only to request the credit reports.

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Ok posts on here are getting blown out of proportion. Im just giving a guy a HEADS UP. If you got ssues and need a real report then maybe you might then need to dispute something. Might as well have the law of averages on your side by starting with the paid for reports rather then the FREE reports.

 

I just dont see that advice being used in all of my reading this go around. I think now everyones got it.

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When you order your free annual reports through the US Mail, the CRA'S have 30 days to complete their investigation.

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Ok posts on here are getting blown out of proportion. Im just giving a guy a HEADS UP. If you got ssues and need a real report then maybe you might then need to dispute something. Might as well have the law of averages on your side by starting with the paid for reports rather then the FREE reports.

 

I just dont see that advice being used in all of my reading this go around. I think now everyones got it.

The main issue was with this post...

 

online reports through USAA or search for each one on google if you want to buy

 

Back when the feds forces them to give out free ones they asked for more time because they feared the onslaught So that's where the 45 day rule came from for freebies

...where you suggest buying them from third party companies. These do not count as purchased reports. Purchased reports are those bought directly from the CRAs.

 

You are absolutely correct in the difference between 30 and 45 days though.

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When you order your free annual reports through the US Mail, the CRA'S have 30 days to complete their investigation.

 

Hi SBA,

 

I am curious as to when this changed? When the free annual credit reports were first mandated by law, the law also stated that the CRA had 45 days to respond to a dispute initiated from one of these reports. I have not been around consistently in the past few years so I must have missed when the law changed, so can you advise or post a link to current information? Thanks!

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When you order your free annual reports through the US Mail, the CRA'S have 30 days to complete their investigation.

 

Hi SBA,

 

I am curious as to when this changed? When the free annual credit reports were first mandated by law, the law also stated that the CRA had 45 days to respond to a dispute initiated from one of these reports. I have not been around consistently in the past few years so I must have missed when the law changed, so can you advise or post a link to current information? Thanks!

 

I have not seen anything that said this changed either. As far as I knew, it was all free reports, mail or online.

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One other point that I have not seen mentioned ... if you get a credit report based on adverse action from a creditor, the CRA has 30 days to respond to a dispute based on that report. It does not matter if the report is obtained by mail, or online.

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When you order your free annual reports through the US Mail, the CRA'S have 30 days to complete their investigation.

Hi SBA,

 

I am curious as to when this changed? When the free annual credit reports were first mandated by law, the law also stated that the CRA had 45 days to respond to a dispute initiated from one of these reports. I have not been around consistently in the past few years so I must have missed when the law changed, so can you advise or post a link to current information? Thanks!

Nothing has changed. It is now, and always has been, 30 days for free reports ordered through the US Mail.

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I will try to be more specific and clearer. I dont get out much...lol actually I dont post much. Been on here for 9 years I know what I hope to say and actually do sometimes gets crossed.

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This is what I found on the Experian webpage After I've Filed a Dispute, What's Next?

Once you have officially set the dispute process in motion, Equifax will investigate the disputed items. We will contact the credit grantors for verification of the items in question. The results of the investigation will be mailed to you, or emailed if you set up an online dispute. This process can take up to 30 days to complete (45 days if the dispute is initiated through www.annualcreditreport.com.)

Included in the results of the investigation will be a revised copy of your credit report, as well as the names and contact information of the credit grantors that verified the disputed items.

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Why you shouldn't dispute via annualcreditreport.com

The FCRA and FACTA allows consumers one free credit report every 12 months for each of the CRAs.
The standard investigation guildelines are 30+5 days. This means if the CRA does not respond within 30+5 days the account is dispute MOST be deleted. The extra 5 days are for mailing. If you dispute items via annualcreditreport.com the following stipulations apply:
--
612. Charges for certain disclosures [15 U.S.C. � 1681j]

(3) Reinvestigations. Notwithstanding the time periods specified in section 611(a)(1),
a reinvestigation under that section by a consumer reporting agency upon a
request of a consumer that is made after receiving a consumer report under this
subsection shall be completed not later than 45 days after the date on which the request is received.
--
What this means is you are giving the CRAs an extra two weeks to investigate (45+5). This can cost you deletes and makes you wait longer for results. You should always file your disputes from a paid report. For your conveinece, there is a dispute link included on your MyFICO report that will link you directly to the CRA dispute form.
Edited by sirfranky

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