Okay, here's the lowdown...

A recent copy of my credit bureau from Equifax shows my student loan debt that went to CBCL for $30,000

1. What it says on my bureau is that CIBC is the creditor! (which it's not, it's CBCL)

2. That the debt is for $20k, and was originally for $20k (i.e. it's not been paid down!?)

3. That I haven't made a payment for the last 4 years (duh, I've been paying $75/week to CBCL not CIBC!)

After telling Equifax that this information was incorrect, they did their little investigation that they do, and voila, they found that the information was correct?!

So, do I pursue the matter?  If so how?  If I need a lawyer...how do I find one in my area (Red Deer, AB) that deals with credit and whatnot?

1. CIBC is the creditor. You owe CIBC. CBCL is just the third-party assigned to recover the money owed by CIBC.

2. CIBC has not been reporting your payments to the credit bureau.

3. More evidence that CIBC has not been reporting your payments to the credit bureau.

"After telling Equifax that this information was incorrect, they did their little investigation that they do, and voila, they found that the information was correct?!"

This is what they programmed to say to you when you call them with a complaint concerning entries and narratives. It is a contagion that seems to only infect the financial industries and sectors.

What you were told is the same blurb that they tell everyone, and their little investigation was really only to put you on hold, let you stew for a few minutes while the representative added cream and sugar to his/her coffee, and then come back to tell you that the investigation has shown that there are no errors.

Here is where the credit bureau is not doing their job:

1) Your credit report is not showing your payments being made, and the last activity dates are all wrong. Likely, the balance is wrong also.

2) The CIBC reports to the credit bureaus and is required to report based on the rules associated with credit reporting. It seems as though CIBC views themselves as "above the law".

3) The credit bureau only reportswhat is given to them. However, if a consumer calls to complain about something not being accurate, and HAS PROOF of these inaccuracies, then the bureau is repsonsible to ACT immediately to RECTIFY the situation.

They have not acted in good faith towards your grievances about the bad information on your report.

The credit bureaus are bound by law to report true and accurate information about a consumer. If the information reported is erroneous or false, then the MUST fix it.

Best of luck.

Johnny

My husband & I have both recently requested copies of our credit reports from both agencies.  I'm anxious/nervous about what we will find when they arrive (especially CIBC, since we can't get a statement from them!)

Good luck Spanky!

If you can find a lawyer to represent you and the people on contingency or pro bono regarding this sort of thing, it would be like finding that porverbial needle in a haystack.

I hope that things work out for you. I would love to see you get the justice you deserve, my friend.

Johnny