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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. credit limit

2.1. 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

3. term

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

4. status

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

5. high balance

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

6. date of last payment

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

7. monthly payment

7.1. monthly payment on closed account? violation

8. date of last activity

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

9. date closed

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

10. responsibility (individual/join, AU)

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

11. payment status

11.1. 30 days late even though you're paid on time?

12. creditor name

12.1. correct creditor name listed?

13. filing date

13.1. filing dates consistent? if not: violation

14. court name

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

15. date opened

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

16. frequency of payments

16.1. (how often do you pay?)

17. balance

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

18. past due balance

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

19. payment amount

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

20. date of first delinquency

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

21. charge-off amount

21.1. who is reporting it? amount correct?

22. type

22.1. installment even though credit card listed?

23. sold-to/transferred

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

24. payment status details

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

25. notice of dispute

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

26. late payments

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