Adverse entry removed from TU!

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TXviking
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Adverse entry removed from TU!

Postby TXviking » Fri Jun 03, 2016 8:03 pm

Some background: In June 2010, I sold my previous home (which had decreased in appraised value from $315K to $125K due to the housing crisis) in a shortsale transaction through Wells Fargo. At the time, Wells Fargo required me to go delinquent by 90 days or more to even consider a shortsale, and they said any payment I made would cancel the shortsale. In short, they told me not to pay my mortgage.

Of course, they reported this as delinquent. I disputed this several times in the past, on the grounds that:

- The account was settled (albeit for less than the agreed amount) when the shortsale closed in June 2010
- The delinquency was a bank requirement that I was forced into (I've since learned this was so Wells Fargo could collect on PMI.)
- I had complied with all their other requirements for the shortsale (including an at-the-closing-table demand for $6K)

These disputes went nowhere. The CRAs contacted Wells Fargo, they said they wanted it on there, end of story. So it stayed on there, just with a useless notation that said "Customer disagrees".

A few days ago, I noticed a new feature on CK: A "Direct Dispute™" button next to each entry on my TU report. Almost on a whim, I submitted a dispute. The feature does not allow you to write a long-winded explanation; instead, you have to select a dispute reason from a dropdown menu. I selected "Account settled".

Just got a response that TU had completed their investigation:
Result: Deleted - TransUnion has deleted the account or record from your TransUnion credit report.


:cheers: :cheers: :cheers:


TXviking
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Joined: Fri Apr 15, 2016 5:46 pm
Location: Palm Beach, Florida

Re: Adverse entry removed from TU!

Postby TXviking » Fri Jun 03, 2016 8:12 pm

So I read up on this "Direct Dispute™" feature a bit more. It seems it's been available since last year, per https://blog.creditkarma.com/credit-karma/introducing-credit-karmas-new-direct-dispute-feature/.

One thing that really caught my eye was this:
If the review results in an update to the disputed report, the company that provided the information is also obligated to notify the other major bureaus it reports to of the correction.


Does this mean I can expect this deletion to propagate to Equifax and Experian as well?

Tubpbs
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Re: Adverse entry removed from TU!

Postby Tubpbs » Sun Jun 05, 2016 2:07 pm

TXviking wrote:So I read up on this "Direct Dispute™" feature a bit more. It seems it's been available since last year, per https://blog.creditkarma.com/credit-karma/introducing-credit-karmas-new-direct-dispute-feature/.

One thing that really caught my eye was this:
If the review results in an update to the disputed report, the company that provided the information is also obligated to notify the other major bureaus it reports to of the correction.


Does this mean I can expect this deletion to propagate to Equifax and Experian as well?


I have no answers for any of these questions and I will keep watching, but I am very interested in the answers.

If no one knows and you get the answer on your own, please update the group here. Thanks!
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MemberSince99
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Re: Adverse entry removed from TU!

Postby MemberSince99 » Mon Jun 06, 2016 7:09 pm

Wow good for you for getting the deletion.

Getting them to remove entries can pretty much be nearly impossible. They always take the creditors word over yours as to what happened - if the creditor says you were on the grassy knoll even though you weren't born then, and says you caused the Bubonic Plague and the Fall of Rome and put that on your report, and they "verify" that, then it will stay on your report, and it doesn't matter it's totally ridiculous. I've never liked a system like that. Too many crooks work the system (bill collectors and scammers) knowing there is little chance of anything happening to them even when they do illegal things, and putting inaccurate information in your report is illegal. But just because it's illegal doesn't mean you have to fear the law as we all know. That part can be a total joke.

Anyway good for you. I personally had to contact the CFPB about inaccurate information in mine. I had disputed and of course it was "verified" and stayed. But once I contacted the CFPB, suddenly that information disappeared. Guess it wasn't so "verified" after all. When did they lie - when they "verified" it, or when they removed it because it wasn't accurate? Nothing happened to them of course, but at least it was gone. Totally crooked system we have it's no wonder no one respects our institutions which are all basically for sale to the highest bidder.



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