GECCCC bought out Conseco and reporting incorrectly and is killing credit

[IdaBritt]

Texas. I have pulled my husbands (and my) credit reports because we were turned down for a loan. (well not actually "turned down" but at a rate of 10.15%, might as well say "turned down".)There was nothing major showing on either one of our credit reports, however found one MAJOR problem that is ttremendously lowering our credit scores. The problem: We had an Original note with Conseco Finance which shows correctly on both our reports. Shows as: Credit Limit/ Original Bal of 31000., and High Credit: 31000. Thats ok and the way it should be. Well, GECCCC bought out Conseco financial and their reporting shows as: Credit Limit/Original Bal: 5000. High Bal: 31000.00! I know it majorly lowers you credit score to go OVER your Credit limit. How can they legally do this? The account was paid off (from Insurance a couple of years ago and account closed. I have called GECCCC direct and asked them to please quit reporting this way, but they will not! This is kiling us and keeping us from getting the loan we so desperatle need at a lower interest rate! What can we do to get GECCCC to either delete this, ot report this differently? I am ready to do whatever it takes to get this removed!

[Ladynred]

First, you must dispute this with the credit bureaus as inaccurate - which it is. It will probably come back to you as 'verified' and then and ONLY then can you dispute directly with GECCC, IN WRITING, per FACTA.

ALL reported data must be accurate, complete and verifiable and the furnisher has a duty to report accurately and completely. Reporting a credit limit well below what was on the original account, on a loan that is PAID, is wrong.

You might want to pose your question to the consumer lawyers at [url]www.myfaircredit.com[/url] - those guys are high profile consumer lawyers with very good reputations.

[IdaBritt]

I have already disputed this information with all 3 credit bureaus and they still continue to report this in the same manner. I have even called GECCCC and talked to a supervisor, and they will not correct either. GECCCC response is that it is reported correctly and they cannot change. They will also not give me their Corporate Office phone number or address because they "don't have that information." You mean a supervisor does not know how to contact their own Corporate office if they need to? I know they do know this information, but seems like GECCCC is hiding and sneaking around if they don't want to be found!

[Ladynred]

First, stop CALLING GECCCC, it does you no good, as you have found. FACTA gives you the right to dipsute directly with the furnisher of the information just as you would the CRA's. Clearly they are screwing with you by lowering the credit limit on a CLOSED account.

You shouldn't have that big of a problem finding the address of the corporate offices of GE Consumer Credit.. a company the size of GE can't hide.

I would suggest you pose your question on the forum here: [url]www.myfaircredit.com[/url] - they are all comsumer lawyers and David Szwak answers questions on that forum. If you aren't familiar with his reputation, google his name. If there's anyone that can tell you whether or not GECCC is wrong, he can, and he can suggest a course of action.

[Ladynred]

Here you go:

GE Capital Consumer Card Co.

Private Subsidiary, Headquarters Location
5300 Kings Island Dr., Mason OH 45040-2353, United States
(513)459-6500

[IdaBritt]

Originally Posted by Ladynred

First, stop CALLING GECCCC, it does you no good, as you have found. FACTA gives you the right to dipsute directly with the furnisher of the information just as you would the CRA's. Clearly they are screwing with you by lowering the credit limit on a CLOSED account.

You shouldn't have that big of a problem finding the address of the corporate offices of GE Consumer Credit.. a company the size of GE can't hide.

I would suggest you pose your question on the forum here: [url]www.myfaircredit.com[/url] - they are all comsumer lawyers and David Szwak answers questions on that forum. If you aren't familiar with his reputation, google his name. If there's anyone that can tell you whether or not GECCC is wrong, he can, and he can suggest a course of action.

I did post my problem and questions on the site above as you suggested on the 25th, and 4 days later, no response so I have posted again today, so we'll see if he answers. Thank you for the info for their headquarters. I would just prefer to contact them directly by phone or mail, instead of having to go through one of their offices that can't seem to handle anything.

[IdaBritt]

Originally Posted by Ladynred

Here you go:

GE Capital Consumer Card Co.

Private Subsidiary, Headquarters Location
5300 Kings Island Dr., Mason OH 45040-2353, United States
(513)459-6500

Called this number, but you have to have a merchant ID to be able to access. I even tried the usual dialing 0 or # until transferred, but that makes the phone cut off. Go figure.