Negative Item

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Negative Item by Mind Map: Negative Item

1. Account number

1.1. Sites may or may not report the full account number BUT if the account number is entirely incorrect, it's disputeable

2. date opened

2.1. Experian normally reports the 1st of the month while the other 2 may show a different date

3. credit limit

3.1. is your limit reporting? Certain companies (such as Capital One) do NOT report the limit and instead state in the comments that the high balance is the limit. ALL accounts need to show the credit limit. What if your limit is $2500 but your high balance is only $200 because you're keeping your utilitzation low? Use the indirect dispute technique: Run-up and Pay off to fix this

4. term

4.1. check that #1 term is correct; #2 bureaus are reporting consistent information

5. frequency of payments

5.1. (how often do you pay?)

6. status

6.1. current account status correct? If not, dispute it.

7. balance

7.1. obvious, but: is the balance correct? should there be one at all? did you settle? pay partially?

8. high balance

8.1. is high balance higher than balance? How is this mathematically possible? violation

9. past due balance

9.1. correct amount? Did you recently pay it off but the account isn't updated yet?

10. date of last payment

10.1. this date will change when the account will be removed; make sure it's reported accurately

11. payment amount

11.1. you can be denied credit based off inaccurate payment amounts.

12. monthly payment

12.1. monthly payment on closed account? violation

13. date of first delinquency

13.1. date accurate? in the case of student loans, some creditors reported starting at 90 days late. Where's 30 or 60 days late?

14. date of last activity

14.1. oldest date is normally the accurate one: newer dates mean the account has been re-aged; this is a violation.

15. charge-off amount

15.1. who is reporting it? amount correct?

16. date closed

16.1. are there are late payments after the close date? is the close date accurate? is the account even closed?

17. type

17.1. installment even though credit card listed?

18. responsibility (individual/join, AU)

18.1. if an AU, easy to remove because it's not your account

19. sold-to/transferred

19.1. if sold-to notice is missing, violation. if balance is present on sold/transferred account, violation

20. payment status

20.1. 30 days late even though you're paid on time?

21. payment status details

21.1. consumer deceased? collection even though paid? etc.

22. creditor name

22.1. correct creditor name listed?

23. notice of dispute

23.1. required within 30 days of receipt of first dispute under section 623 FCRA and 806(b) FDCPA

24. filing date

24.1. filing dates consistent? if not: violation

25. late payments

25.1. late payments on collection? collection is closed-ended account and cannot have late payments. violation

26. court name

26.1. court name should be legal name of court with city and state