Mortgage and Insurance

Hi there,

 

**Skip to the questions part if you don’t want to be bored with my story!**

 

                  I recently decided to start rebuilding my credit. Or rather, fixing it up the way it really is supposed to be. To make a long story short, I was the victim of I.D. theft and am trying to correct all the fraudulent information on all 3 CRAs. I had about 9 different collection accounts and never was I notified about a single one of them. I never knew because I rarely check my credit report as I don’t usually need new credit except back in 2004 when I started. I do not know how this happened. I don’t have the slightest hint of who this person is, or how he obtained my information, much less what kind of documents he is using or, if at all, the validity of such documents (forged or stolen?). I don’t ever remember losing personal documents. All the information I have is what I read on my credit report, and apparently this individual lives in the state of Georgia. All collection accounts were originated there. Or should I say he “used to live there”, because on two medical bills I contacted the original creditor and they told me I show up as “deceased” (lol). What has me worried is that about 7-8 months ago more fraudulent accounts were opened, which leaves me to believe my personal information was passed down in a sort of inheritance sick kind of way.

 

So I embarked on the long journey to repair my credit. I found it easier to do so compared with people that have legitimately damaged their credit. After all, it didn’t take much time for them to realize there was suspicious behavior in my report. One look at it and one can easily tell which accounts are actually mine and which ones are not. I’ve lived in Puerto Rico all my life. I have about 7-8 tradelines in good standing and 3 of them currently opened. Oldest one was established back in 2004 and have never had a late payment. I also have a current installment loan for 72 months which I have been paying since 2005, paying $310 the first 3 years, then $458 the remaining three. Only 1 year remains and that’s a pretty solid tradeline that helped me prove my point. I couldn’t get a TU FICO score, but the FAKO score was 820+ last time I checked after it was fixed of all fraudulent information. So I am guessing under normal circumstances I joined the 700+ quite some time ago, and I still not done because I have unathorized inquiries and updating to do.

 

So I started a dispute with all 3 CRAs. TU reponded almost immediately and deleted all the fraudulent accounts and updated my personal information correctly. To be honest it surprised me how fast they reacted to it. It’s now a month since they did that and no fraudulent accounts have been put back in. Experian is going well as only 2 collection accounts remain out of the original 4, but that’s also in part due to me contacting the creditors about what happened and them sending a letter to Experian to delete the information. I am waiting for the dispute results on the remaining 2 accounts. With Equifax, I originally had 8 fraudulent accounts, 6 of which now remain while the dispute investigation is in process. I’ve managed to do all of this in 3 weeks.

 

I tried to make it a short story, now I would like to know some things:

 

1. I have the feeling one collection agency will give me trouble. Fair Collections and Outsourcing is the name. I heard they’re pretty nasty. They don’t seem very cooperative and updated my credit report with a “KD” as of July 2010, which is strange because the last time they reported it was back in 2008 accoding to my credit report. They said I needed to mail them a copy of my police report. My question is this: What kind of letter I should send them, taking in mind they actually believe the debt is mine? I mean… What exact wording should I use to let them know they better delete the information off my file or face the consequences of reporting fraudulent information? I’ve very confident during this whole process because I did not open those accounts. I will not pay for a service or credit I did not receive in the first place.

 

2. Under the FCRA 609(5)… is this true? If so, what is the point of proving your case with documentation if all they can do is decline saying is in “good faith”? One of the other creditors of one account believes I am lying. When I told her I was calling to let them know it was a fraud account, she responded saying it wasn’t a fraud, that they had my documentation and if I wanted it deleted off my report I had to pay. I couldn’t help but laugh honestly. Apparently they have copies of my social security card and birth certificate, along with a signature. I want to know because that woman just made me more willing to get that information out of her.

 

3. I hope it doesn’t come to this but… How do you handle a case in which a creditor claims to have proof that those accounts were originated by me, but in reality are stolen or forged documents with someone else’s signature? Am I protected under my consumer rights if I provide them with a police report and other documentation needed? I’ve read the FCRA and FDCPA, but I want to make sure I didn’t miss anything. I can easily prove that I’ve lived and worked full-time in PR all along.

 

4. CRAs are bound by the FCRA to block fraudulent information from my report, even when creditors mail them “valid” documentation of the account, right? They cannot reinsert such information, right?

 

5. Is there a limit agencies have to respond to letters I sent them with a police report and necessary documentation? Are they required by law to send me a response within 30 days or something like that letting me know their course of action?

 

6. Not related to the fraud, but is there a reference somewhere where it tells you how the monthly amount of payment on installments affect your credit score? I’ve been looking for a way to measure it, but haven’t been able to get the right idea. Surely an installment tradeline of $500 a month boosts a score a lot more than a $100 a month would, right? At the very least it should give a different idea to lenders when reviewing a report manually. How is it measured into the score, if at all?

 

7. Any way of getting a TU FICO score that’s not transunioncs or myfico? Transunioncs has some technical issues with their website related to my account and they said it’ll take some time before they can solve it. They are unable to pull my report and score until then. And myfico for some reason does not allow people with addresses outside the U.S. to buy their score. This I do not understand… what about the thousands of U.S. people living elsewhere?

 

I know it’s a long post, sorry about that. Some babbling, but guess I wanted to get it off my chest. No reason in particular. Thanks in advance for any advice you can give me.

 

 

• has anyone gotten ecmc to report to the credit bureau that your loans are being paid with social security funds and thus giving you a better score