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Old 07-08-2015, 04:40 PM   #15
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Thanks for your input. I'm not worried about this as I am financially free of any any debt.
Your debt doesn't really matter for the credit report. Debt is not mentioned. but it will matter for your credit score. They have some formula that includes available credit to actual debt. That is the ratio of upper limits vs charges. The higher the ratio the better for your score. there are other factors such as missed payments etc.

With the monitoring I have, I get a report from all three agencies with my credit scores from each agency each month.


Debt is mentioned in the report....just checked......sorry


(I am sorry most of the debt is mentioned in the report..apologies)

You get credit card offers due to what is called a soft inquiry. It can come from any of the three. The agencies make money by allowing soft inquiries and you can opt out if you want to. This inquiry does not affect your score and will not be on your credit report. But if you accept one of the credit offers then the card company will make a Hard inquiry to your credit at one or more of the credit agencies. The hard inquiry lowers your credit score a little and these inquiries will be on your credit report for at least three years.

Monitoring your credit like I do helps prevent ID theft. If your not watching someone can open an account in your name and you may be held responsible. I get notified on every hard inquiry. Has nothing to do with your debt free status. It's the new age.
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Old 07-08-2015, 04:41 PM   #16
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Do some research, find out who owns the company. Write them directly and tell them if the item is not corrected you will sue the CEO personally (along with the company). Include what documentation you have to make your case. You can sue in small claims court and it will cost them more money to answer than you sue for. Had a problem with one agency that had reported a judgement against me when it was actually a judgement I had won against a former tenant. Staff of the agency had adamantly refused to change it even when I sent them a copy of the court record. I found that they were actually owned by a Limited Partnership, which was controlled by the Burlington Northern RR. I wrote the President of that company and informed him of my intention to sue. File was corrected in 30 days, Credit score jumped almost 200 points.

They are not nice people and don't deserve nice treatment.
The law suit will commence Monday.
The problem is this is a clerical error and they are reluctant to straighten it out.
One person has stated that I am free from the bankruptcy that is why I still use and get credit.
Not so my credit report shows the bankruptcy just prior to me retiring in 2012.
I believe it takes 7 years.
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Old 07-08-2015, 04:45 PM   #17
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Your debt doesn't really matter for the credit report. Debt is not mentioned. but it will matter for your credit score. They have some formula that includes available credit to actual debt. That is the ratio of upper limits vs charges. The higher the ratio the better for your score. there are other factors such as missed payments etc.

With the monitoring I have, I get a report from all three agencies with my credit scores from each agency each month.

You get credit card offers due to what is called a soft inquiry. It can come from any of the three. The agencies make money by allowing soft inquiries and you can opt out if you want to. This inquiry does not affect your score and will not be on your credit report. But if you accept one of the credit offers then the card company will make a Hard inquiry to your credit at one or more of the credit agencies. The hard inquiry lowers your credit score a little and these inquiries will be on your credit report for at least three years.

Monitoring your credit like I do helps prevent ID theft. If your not watching someone can open an account in your name and you may be held responsible. I get notified on every hard inquiry. Has nothing to do with your debt free status. It's the new age.
I agree but I don't agree with the part about identity theft. Your way takes too long a month between reports can be a disaster.
I check all my investment accounts daily. Sometimes twice if I am waiting for a pending transaction.
My bookkeeper and my accountant were both floored by this. They have carried on for three years like nothing has happened. The investment company I use is just as perplexed.
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Old 07-08-2015, 04:48 PM   #18
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Anyway stay tuned I will update this as things happen. Hope my outcome will help others. Nothing like being retired to have time to deal with carp.
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Old 07-08-2015, 05:13 PM   #19
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I agree but I don't agree with the part about identity theft. Your way takes too long a month between reports can be a disaster.
.
Not a month.....One day. A Hard inquiry is someone opening a new credit account. You know this within 24 hours and can take action immediately.
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Old 07-08-2015, 05:52 PM   #20
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I know what you saying but, Equifax does not report the account # they only report the # of the trustee who filed the bankruptcy. I contacted them and there answer is. Sorry we are unable to give out any information. We are only authorized to extend information to the party in question in other words the person who declared Bankruptcy. The only thing I was able to establish is that my Social Insurance # is differant. This they were willing to tell me over the phone. Equifax has admitted that they have made an Identity mistake but are unable to change anything as it has been reported as such????

The link you supplied is all information that Equifax sent me in order to settle my disput with them.



I need the Persons Name who went Bankrupt and the account #.

Equifax does not give out this information as it falls under the privacy act.

So what you are saying is that the information contained in the bankruptcy was reported to Equifax correctly, meaning, name, address, social security number of bankrupt party is correct (and not you), but Equifax picked your social security number to report the bankruptcy on?
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Old 07-08-2015, 06:38 PM   #21
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So what you are saying is that the information contained in the bankruptcy was reported to Equifax correctly, meaning, name, address, social security number of bankrupt party is correct (and not you), but Equifax picked your social security number to report the bankruptcy on?
I don't know about the name and address but yes Equifax used my social insurance #.
After numerous calls I was able to piece together a few things. But you have to manipulate your questions.
A lot of people at Equifax are not playing with a full deck and I have enough information for my Lawyer to start something.
Oh by the way the trustee told me my name and social insurance # were different than on the affidavit filed with the courts. But was unable to supply any other info.
I have received numerous calls and emails and I am quite confused so I can imagine my thread looks a little scrambled.
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Old 07-08-2015, 06:47 PM   #22
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Yep, I'm confused on what is being reported entirely. But I'll sit back and observe.
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Old 07-08-2015, 07:54 PM   #23
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Yep, I'm confused on what is being reported entirely. But I'll sit back and observe.
As simple as I can put it, they applied it to me. Instead of the person who they tell me was not me. Because our name a numbers are different.
If that is hard to understand I might have blew it trying to explain it.
I could also maybe attach a copy to better explain it.

Makes as much sense as Donald Rumsfeld on who know what don't know that they think we know.
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Old 07-09-2015, 02:10 PM   #24
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Ok to update my mess.
I spoke with my bank manager of 45 years and he has a copy of the package that I will present my Lawyer on Monday.
He is going to makes some calls to the bank in question to possible add some history as to how this has taken place. Once he has established the process used he will document this for my Lawyer.
He said he has dealt with Equifax before and has fielded a lot of questions regarding unjust credit reports.

Also Equifax has stated in writing via E-mail that they will make any necessary changes,however not before consulting with the creditors that have put the judgement against me. But it is up to me to supply banking info. Such as account #'s
And personal information of a person I have never met.
The only thing I know is the banks name where the bankruptcy happened and the trustee. But they are unable to release info.
When somebody else's info ends up on your file at Equifax there is a procedure to have it removed. I really can't blame them they only report what they are given.
Could it have been an employee entry mistake.???? Who knows!
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Old 07-09-2015, 02:52 PM   #25
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Thanks for the update narampa. Would like to know how this turns out.

As I said before a credit monitoring program like I have notifies me within 24 hours of ANY significant changes to the 3 credit reports. This includes just about anything. So I can start taking action the day after it occurs before the ink dry.


About 10 years ago someone filled out a bank form to withdraw monthly payments to a bill. The account they entered was mine. 1 digit difference. It was several months before I caught it. Nothing criminal but just an entry error. But the bank did not want to return the money for quite a while. I had the help of a financial expert to straighten it out. So it can happen to anyone. Since then I have watched everything more carefully.
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Old 07-09-2015, 04:49 PM   #26
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Thanks for the update narampa. Would like to know how this turns out.

As I said before a credit monitoring program like I have notifies me within 24 hours of ANY significant changes to the 3 credit reports. This includes just about anything. So I can start taking action the day after it occurs before the ink dry.


About 10 years ago someone filled out a bank form to withdraw monthly payments to a bill. The account they entered was mine. 1 digit difference. It was several months before I caught it. Nothing criminal but just an entry error. But the bank did not want to return the money for quite a while. I had the help of a financial expert to straighten it out. So it can happen to anyone. Since then I have watched everything more carefully.
I now know what you mean by daily monitoring. I am going to look into it. Now I see what you were talking about.
Just to update this thread I have just received confirmation from the trustee and I should receive all the information that Equifax requires.
Not sure how this happened but between my Bank Manager and the Bankruptcy Trustee they are being super.
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Old 07-15-2015, 05:58 AM   #27
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I used to deal with Equifax back to 1972 when their name was Chilton and they were the Atlanta credit bureau. This was long before Fair Isaacs came out with their FICO scores used throughout the credit industry.
Don't believe that the erroneous credit report was personal. The vast majority of information in Equifax comes from banks and loan companies' electronic records that are transmitted to them on a monthly basis. They also pickup information on court judgments and bankruptcies directly from public records--and this information is entered into their computer systems.
From time to time, information received will be incorrect and it gets placed on someone's credit report in error. Nobody did anything personally to get information on your credit record, and there is no personal vendetta against you.
There is a procedure the Government regulations provide to correct the information if it is incorrect. If you follow that procedure exactly, your problem will be corrected.
Equifax doesn't want the information on any person's file to be anything but correct. But errors do come up from time to time, especially on people that have common names like John Smith. Not all the information provided to them is 100% accurate.
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Old 07-15-2015, 08:53 AM   #28
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I used to deal with Equifax back to 1972 when their name was Chilton and they were the Atlanta credit bureau. This was long before Fair Isaacs came out with their FICO scores used throughout the credit industry.
Don't believe that the erroneous credit report was personal. The vast majority of information in Equifax comes from banks and loan companies' electronic records that are transmitted to them on a monthly basis. They also pickup information on court judgments and bankruptcies directly from public records--and this information is entered into their computer systems.
From time to time, information received will be incorrect and it gets placed on someone's credit report in error. Nobody did anything personally to get information on your credit record, and there is no personal vendetta against you.
There is a procedure the Government regulations provide to correct the information if it is incorrect. If you follow that procedure exactly, your problem will be corrected.
Equifax doesn't want the information on any person's file to be anything but correct. But errors do come up from time to time, especially on people that have common names like John Smith. Not all the information provided to them is 100% accurate.
I am in total agreement with what you are saying.
My lawyer has started the process as it is not simple.
I have found out that it was one of my employees that went Bankrupt. While he was separated from his wife he used our company address for his mail. Of course he did this with permission of our office manager.
Seems the address was all it took to involve me. So really Equifax should have better control to make sure this can't happen.

I don't know this employee but he sure was embarrassed when I talked to him.
I really felt sorry for him when I heard his story.
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