Stupid Credit Reports

I blogged a month or so about credit bureaus. Guess what, there’s more!

We’ve been paying off all the negative garbage, and have it all finished. Really. It took six months or so. We watched our credit scores rise, then POOF. Nothing.

Checked the reports again. SOME of the items are still there, showing balances. Seriously, what the heck?

Between us, we have six reports – one each, from each credit bureau. Mine, for example shows a certain joint account as “paid, zero balance”. My husband’s shows the same account as owing almost $9000. Same credit bureau.

I called them all. Well, two of them. One only accepts disputes online or by mail. One had a voice message which said to please go online or mail them any disputes. The third one actually sent me to a representative. In India. Her name was Sue. Right.

Anyway, she checked. She said she’d enter a dispute. This will be the FOURTH dispute for this account, over a two-month period. Apparently, so they say, they call the creditor and ask the status. Fine and dandy.

So, what? The creditor tells them that a JOINT account is ONLY paid on MY report? And they believe that? Doesn’t anyone see this?

So they mark it as “investigated” and “no change”. Seriously? It was paid TWO MONTHS ago!

Furthermore, the bureaus apparently do not communicate with each other…at all. Their reps tell me that some creditors report to one or two bureaus, some to all three, and so forth. Fine, I GET that. But why would a creditor tell each bureau something different, if/when they report to more than one?

How in the world can one account state, in turns, that an item is “paid”, “derogatory”, and “charged-off” – IF the creditor makes the reports? Does the creditor not know the status? If they don’t, they should just mark it all as “unknown” or, better yet, “paid”!

Again, who thought up this whack system? Who made the credit bureaus gods? And Fair Isaac – well, he’s just plain wrong. And vindictive. And a host of other things that I probably shouldn’t print.

3 comments on “Stupid Credit Reports

  1. Dana says:

    Hi Robin, thanks for stopping by my blog. Great to find you again. You are an amazing writer!


  2. I tell you, we’ve had to deal with something similiar. The thing about credit reporting agencies is that they try to automate the phone and customer service part either by routing you to someone in a Third World country who’s 58th language is broken English or they just route you to a machine. What you want is to get a number at corporate, someone who is an office and will answer their own phone. If you or anyone else is having this crappy problems contact the controlling authorities that these credit bureaus answer to:
    National Credit Union Administration
    1775 Duke Street
    Alexandria, VA 22314
    (703) 518-6330 (703) 518-6330

    Federal Reserve Consumer Help
    The Federal Reserve’s new centralized consumer intake function has been designed to provide national support and resources to consumers with inquiries or complaints about a bank or other financial institution.

    Federal Reserve Consumer Help
    P.O. Box 1200
    Minneapolis, MN 55480


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