The morons at Experian just can’t get it right
One of my clients just got the Experian dispute results including the dispute of an MBNA (purchased by BofA) account:
“OTHER ITEMS DISPUTED ARE NOT CURRENTLY DISPLAYING ON YOUR PERSONAL CREDIT REPORT”
Then the Experian results feature this account, IDENTICAL to the previous reporting, but now reported by BofA. Here’s the myFICO reporting:
BANK OF AMERICA (Individual)Not on Record
Account Number XXXX
Account Type Revolving
Credit Limit
(High Credit) $15,000
Charge Off Amount 00015821
Minimum Monthly Payment (Terms)
Date Opened August, 2003
Date of Status June, 2005
Last Payment Date October, 2004
Loan Type Revolving Charge Account
Collateral
Description Transferred to/purchased by another lender Not on Record
Last Report on April, 2007
Balance Current status Past Due Amount
$15,821 Unpaid balance reported as a loss by credit grantor $2,370
Seven Year Payment History
30 days late: 0
60 days late: 0
90+ days late: 25 x 4/2007 - 4/2005 [The fictitious lates added by Fair Isaac and NOT rated by FICO scores]
--------------------------------------------------------------------------------------
The account was PREVIOUSLY disputed.
And how can these idiots at Experian be so stupid? Even if they do NOT know that BofA finally changed the name of the reporting from MBNA to BofA, they should have corrected the reporting.
How could they NOT notice the OBVIOUS incorrect reporting?
An account can NEVER have a balance after it was SOLD!
Not to mention that my client filed for bankruptcy in 8/05 and any outstanding balance was obviously discharged.
Experian gets away with this crap because just about nobody sues them for this BS.
Posted by Christine on 05/31/2007 at 01:25 PM
2003 Suit (appealed, Experian filed credit reports on PACER) • Experian - countless violations • (1) Comments • Permalink
The chicanery begins when discharged accounts are bought and sold. They lose their identity. The reporting creditor and the CRA’s have a new legal shield from reporting accurately. You have to start the process all over again. I don’t think this reporting is accidental, I feel at is done intentionally. I was reading about how the application for a mortgage (when the CRA’s are asked for a mortgage credit report) triggers a report that other lenders and brokers acquire. This becomes a perfect opportunity for discharged accounts to become manipulated by anal retentive types to seek revenge. It may sound but people can be very sadistic towards one another even when there is nothing to be gained
