Originally Posted by
MaxVO
You should insist that your mortage lender removes false info from the credit report. Requesting anything from CB IME is less than useless -- they would likely just update the entry date, not its content. Remember, you're not a customer of a CB, but a product. If your mortage lender does not immediately commit to correcting the error, file a
CFPB complaint.
This is 100% inaccurate information. Under the existing law, i.e. Fair Credit Reporting Act, the only recognized method of dispute is a direct dispute with the respective CBs. See 15 USC § 1681s-2(b).
While it is possible that some people may have better experience dealing directly with the creditor, the fact remains unchanged that without a direct dispute with the respective CBs, a consumer can have no cause of action against the creditor for inaccurate information. In short - dispute with CB is mandatory and dispute with creditor is optional.
Also - because of the consumer's failure to follow the mandatory procedures, there is no valid CFPB complaint (Note - CFPB must follow the same procedure dictated by Fair Credit Reporting Act).
Originally Posted by
Gig103
Thanks MaxVO, I will also reach out to the mortgage company regarding this info, I thought the appeal process w/ CB was the same thing.
It is not.
As mentioned above, dispute with CB is the only recognized method of dispute. When you follow this method, the creditor and CB must work in accordance to the clock set by the law. However, dispute with creditor is an optional method. When you follow this method, the creditor and CB work in accordance to their own clocks.
Originally Posted by
Gig103
Thoughts from the forum on if she goes to the link if Amex will still extend the offer?
She should apply regardless.
The dispute is not going to be resolved by the deadline. However, once the dispute is completed and is in your wife's favor, your wife can in fact request the CB to provide a notice of deletion of disputed information to AMEX. See 15 USC § 1681i(d). Then you can request AMEX to reconsider in light of the deleted information.