Credit Bureau and Reporting Issues - Online Credit Report missing info

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Online Credit Report missing info

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Category: Immediate Attention and Info!
Forum Name: Credit Bureau and Reporting Issues
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URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=4687
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Topic: Online Credit Report missing info

Posted By: administrator
Subject: Online Credit Report missing info
Date Posted: 22/January/2008 at 3:35pm

Just a heads up if you are using the Equifax online credit report.

Last March I used the equifax online report... paid my $20 something and got my report. My old OPD wasnt on the report.

I went into my bank to discuss some matters and try to arrange some minor financing. They pull up my report.... The OPD is there so I get denied. Btw, banks treat opd as bankruptcy. That was the advisors words... If I had know the OPD would be on there I wouldnt have applied.

I call equifax and explain to them what happened. They said thats impossible. They can see the OPD on their system. I read off the info on my printed copy. I escalate the issue. I mean Really escalate the issue.

They go into my report and verify its not on the report. They apologize and refund my $20 something dollars. No explanation given....

Not sure if this has happened to anyone else?

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Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024

Replies:

Posted By: whoknows
Date Posted: 30/January/2008 at 12:54pm

What's OPD

Posted By: Dunker
Date Posted: 30/January/2008 at 1:46pm

I found that Equifax had less information about my credit history than did Transunion. For example, Equifax does not list my defaulted student loan, whereas Transunion does. Is it possible that the Equifax agent had access to both credit reports, while they were talking to you?

Posted By: hulahoop
Date Posted: 09/February/2008 at 2:15am

I haven't gone online, but I think my new CU did and saw the CR that had the bad info. and the SLs i had to tell them about as they weren't on it. Why? i was opening a CA and they actually encouraged me to apply for OD to start... I felt so stupid about my BK.

Posted By: Keanna
Date Posted: 10/February/2008 at 6:34am

neither of my credit reports had my SL's on them. They are purged from the system after 7 years.

Posted By: administrator
Date Posted: 10/February/2008 at 8:31am

regarding my info, it was only the Equifax but good point. I'm ordering my Transunion to see what I need to clear up there.

Two weeks ago I spoke to Equifax. They said the Collection Agency had no right to report my Student loan in collections as the loan was taken out in '99.

They're investigating why CBV reported it as being '05

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Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024

Posted By: administrator
Date Posted: 18/February/2008 at 11:03am

and now I get a letter back saying that the CBV info is correct. It obviously isnt, and CBV wouldnt have the original documentation anyways...

I've been trying to get through to Equifax for 3 days now... all I get is a busy signal....

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Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024

Posted By: SolveStudentDebt
Date Posted: 18/February/2008 at 12:37pm

This is absolutely normal. The customer is never right. That is their attitude.

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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

http://www.solvestudentdebt.com" rel="nofollow - solvestudentdebt.com

Posted By: administrator
Date Posted: 20/February/2008 at 6:00am

yeah well thats how HRSDC treated me and now we have this website!!!

I've been trying to get through all week. all iget is busy signal.... found another number 1-800-361-4430 ...It had a message to call 1-877-227-8800. That had a message to call 416-277-8800. That number had a message to call 800-871-3250.. that number had a message to call 1-800-865-3908... at which I got to speak to a person... wow they dont make it easy!

Well, they'll do another investigation... thats their attitude unless you PUSH!!!!

Forgot to mention... one message said to email customer.relations@equifax.com but that is only an autoresponder that says that email is no longer in use!

-------------
Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024

Posted By: frustrated-guy
Date Posted: 20/February/2008 at 6:18am

how about a class action agaisnt equifax?

Posted By: administrator
Date Posted: 12/March/2008 at 8:07am

See my posts on difficulty getting issue resolved.... this is still a problem for me.

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Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024

Posted By: syrenavars
Date Posted: 25/June/2008 at 12:18pm

My problem is very similar. A loan which was expunged from my credit record reappeared with a new date of activity. The last date of activity was reported as 12/00 by CIBC and it poof and disappeared 7 years later for non-activity.

A month or two later it reappeared with a new activity date of 07/07. I first wrote two letters to Equifax and months later they responded with, CIBC states this information is correct. When I called Equifax to discuss this matter I was told CIBC reported that they sent the loan into collections on that date. When I pointed out that I had been paying a collection agency before that, the Equifax agent told me to take it up with CIBC. She was so rude on the phone and when I asked what information I need to provide, she retorted with "what do you think you need to provide"? How can I know? That's why I'm calling you, to find out.

I did as she suggested and I called CIBC, I was told they have no record of my loan....no information of when it was sent into collections, etc. It is listed as a defaulted loan and I am to be called back by a supervisor regarding my questions. No one has called so far.

Why is getting information so difficult? Why are banks allowed to redate loans in order to prepetually keep them on file at the credit bureau? I don't get it.

Posted By: Rachel Paige
Date Posted: 10/July/2008 at 5:29am

I just called the 1-800-865-3908 Equifax number and got to speak to a person after pressing 3 to speak to a rep and then again pressing 1 to speak to a rep.

I ordered my credit file a few days ago and had some questions. I asked about what "date of last activity" means and whether these old student loans would ever be expunged from my record. She said "date of last activity" is the last time you made a payment or Equifax had any communication from them about you. The record will be expunged 6 years from that date meaning 6 years from the time the debt is paid off in full. (This is not terribly helpful.)

I have been paying all three of my student loans, but the Collection Agencies are not reporting the payments to Equifax. She suggested I write to them and ask them to do so, which I will consider - but in the past I've found any communication whatsoever starts up the calls to work and home again. Not sure it is worth it.

Posted By: administrator
Date Posted: 11/July/2008 at 6:30am

I escalated my issue and the loans were removed. The date of last activity to the rep I spoke to was when the loan was taken out, not the date of last payment... so its a bit confusing and inconsistent.,.... I got the printed report and then sent in a dispute letter. Seems Equifax doesnt resolve things unless you grease the wheel.... It took five or six attempts to get it removed...

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Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024

Posted By: Rachel Paige
Date Posted: 14/July/2008 at 9:40am

Today I sent a registered letter to Equifax stating that I recently reviewed my file and found certain items to be in error. Supposedly they are now under an obligation to contact the Creditor and "investigate". But whatever the Creditor says is golden (even if it is not full and accurate - as in my case where years and years of paying is not being recorded/reflected on my credit profile). The only hope seems to be that the 45 days will go by and the Creditor will not respond, which means Equifax has to remove the entry from my profile.

But even then, entries are known to mysteriously re-appear.

Posted By: syrenavars
Date Posted: 14/July/2008 at 11:58pm

When I asked Equifax, over the phone, why the creditor is reporting having sent my loan into collections when it had been in collections for years. I was told, contact cibc. When I asked why they are allowed to not report payments, I was told, it's okay if they miss a month or two. I pointed out they hadn't reported one payment over a 3 year period, I was told to take it up with the creditor. But the creditor's word is golden.

I hired an arbitration firm and am in the process of settliing the debt to get it off my credit report. Otherwise it will keep getting redated and reappearing. But I'm still really angry about the whole thing, especially considering the arbitrator told me it may take up to two years to deal with this case.

Posted By: syrenavars
Date Posted: 15/August/2008 at 10:54am

I am responding to my own post in order to give an update on the situation.

This is what I found, the payments I had made on the loan, were not for the bank portion, only the government portion. So, in effect, between 12/00 and now there has been no activity on the loan.

I've written a complaint to the CIBC and general banking ombudsman, the response I received was to allow CIBC to deal with the situation, the general banking ombudsman is to get back to me within 3 months (in September) to find out if I am satisfied with the investigation and conclusion.

In the meantime I've also spoken to Equifax and was told that CIBC verfies all information on my credit report to be correct -- for the umpteenth time. I asked what kind of information they used to verify it? What was the last date of activity in 07/07 and how was it documented? I was told the activity was the loan being sent to collections and it doesn't need to be documented, CIBC is a "partner" and therefore they don't need to provide any documentation.

CIBC student center contacted me yesterday and told me to call if I required information about my loan. This, in my mind, signifies the end of the investigation by the CIBC ombusman. I called and was told to contact ARC, they have my loan. When they told me the number to call I asked, "whose number is this?", "why am I calling these people if CIBC is reporting my loan to Equifax"...I was told, rudely, "they have your loan".

I also wrote to the consumer affairs commission and they sent me a bunch of paper work out lining my rights. As it turns out, I can request that Equifax send me all the information they have which pertains to my CIBC student loan.

I will do that on Monday. I will also call the CIBC student center again, just to make sure they're giving me the run around. And then I will contact, by phone, the general banking ombudsman. I don't want to wait around til they call me in September.

The fact is, CIBC probably did send my loan into collections on 07/07, I didn't realise it existed as a seperate loan from the provincial one I was paying. But between 12/00 and 07/07 there has been no activity, so it needs to be removed from my credit report.

There are also a bunch of other issues with this loan, for instance, CIBC claims I last took out the loan in 12/00 -- the last date of activity on my credit report for 7 years -- except that the last time I took out the loan was in 01/00.

What a mess. I hope I can sort it out. I'm very discouraged.

Posted By: SolveStudentDebt
Date Posted: 18/August/2008 at 2:19am

"The fact is, CIBC probably did send my loan into collections on 07/07, I didn't realise it existed as a seperate loan from the provincial one I was paying. But between 12/00 and 07/07 there has been no activity, so it needs to be removed from my credit report." ... If I am reading you correctly here, you are in the mindset that your student loan is statute barred. Bear in mind, when you write letters to the bank, you are acknowledging your debt, which in turn will disrupt the limitation period and start anew. You have to be very careful in your written material. Wording is everything.

Just a heads up.

Posted By: Rachel Paige
Date Posted: 18/August/2008 at 5:29am

An addendum to my last post - I was wrong about the 45 day rule. Evidently that is true in the States, but not Canada.

Under the Ontario Consumer Reporting Act, section 13(1):

"Where a consumer disputes the accuracy or completeness of any item of information contained in his or her file, the consumer reporting agency within a reasonable time shall use its best endeavours to confirm or complete the information and shall correct, supplement or delete the information in accordance with good practice."

The weakness of this wording partially explains why Equifax can get away with what they do - which is taking the word of their members over us, regardless of the veracity of our claims.

I am sending one of the CRA this letter (it is still a draft so comments welcome):

August 15, 2008

CIBC National Student Centre

P.O. Box 5055

Burlington, ON

L7R 4P3

CBV Collection Services Ltd.

2200 Young Street Suite 900

Toronto ON M4S 2C6

Request for CREDIT REPORTING

Account Number XXXX

To whom it may concern,

I am writing to request that CBV Collection Services report my full payment history on this account to Equifax and Transunion credit reporting agencies. I have been making payments on this loan faithfully since August 9, 2006 yet these payments are not reflected on my credit report.

Despite my regular payments, CBV Collection Services Ltd has made several hard inquires on my report, including one as recently as February 26, 2008. As these actions are unwarranted and have a direct impact on my efforts to maintain a healthy credit score, I ask that all unwarranted inquiries of my credit report cease and my credit report be adjusted to accurately reflect my payment/credit history. I do not believe this to be an unreasonable request and wish to work to have this matter promptly and satisfactorily resolved. I do not wish to have to be forced to pursue a resolution of this matter through other means.

Please provide a written response outlining how and when the completed information will be submitted to the credit reporting agencies.

Thank you for your time and attention.

Yours truly, etc. (with attachments).

RP in Toronto

Posted By: syrenavars
Date Posted: 18/August/2008 at 6:42am

Oh well, I knew that when I wrote the letter. If the bank keeps redating it and bringing it back onto my credit report, there was no other way. CIBC won't even discuss it with me. The weird thing is, when I called the number they gave me, it wasn't as I assumed ARC (who previously had my loan) but Wells Fargo in Nevada. I can't find anything on the internet about Wells Fargo collections. I'm going to call CIBC again to make sure they gave me the correct number.

I am willing to settle the debt but I also want it off my credit report. I want to make sure I am not tricked in my settlement wherein I pay and they still come after me for the rest. This is really stressing me out so I can't wait til it's over and I have my release letter.