     Christine Baker (Admin) | Friday, March 09, 2001 - 03:00 pm 
It took about 1.5 hours to get the dispute resolved. Not a big deal when you're in the privacy of your own office with speaker phone (for those holds,) fax and internet access.
On the other hand, somebody without that luxury probably couldn't get it done at all. How many lunch breaks would you spend at the pay phone?
Also, this was an INCORRECTLY reported closed derogatory account and I had already disputed it years ago.
From my notes:
2/27/01: Looked up Wells Fargo at Yahoo Yellow Pages, called (925) 671-1520, the bank. There I got 800-869-3557 customer service.
After a few minutes on hold, I got 800-642-4720 for their credit cards. She transferred me, finally I got the number for Wells Fargo credit reporting disputes: 877-778-5697
After some hold time, I told Wendy that this was urgent as I was applying for a mortgage. She promised a fax within 5 working days and a snail mailed letter.
3/8/01: Received faxed letter dated 3/6/2001 stating that they advised the bureaus to delete the account and:
"Please be aware, the reporting agencies generally take 4 to 6 weeks to have the change reflected on your credit report. This correspondence can be used as temporary evidence of correction."
As we all know, just about nobody would bother to look at my letter.
Credit scoring software just spits out numbers based on the data in my reports and does NOT read my letters.
I called Mat who had signed the letter. Calling his direct number I got his VM, so I tried the toll free #, after a few minutes on hold I got the option to leave a message or call back later. They disconnected me.
On second try I got through, and I was informed that in fact the bureaus take 4 to 6 weeks. Mat would be the person to contact about the DATE he notified the bureaus. He was out to lunch, so I left a message on his VM to call me back.
A couple of hours later I called him again. He hadn't checked his messages yet.
He told me that 4 - 6 weeks is what the CRAs tell Well Fargo. He sent the updated reporting on 3/5/01 electronically to all 3 bureaus.
Now, WHY would it take 4 - 6 weeks? Mat said they are just so backlogged. I don't get it, he submitted the update electronically, couldn't get me copy. So, exactly WHAT would take 4 - 6 weeks?
Does the FCRA say anywhere that the bureaus have 4 - 6 weeks to update credit reports after creditors submit corrected data?
I'm wondering if I shouldn't order my credit reports and then demand a refund of the cost of the reports from the bureaus. Since they won't pay, I could then sue them for $10/each.
After all, I can't apply for new credit, insurance, cell phone or long distance until I know that this INCORRECT current serious delinquent account has been removed.
Any comments? |
