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is there a legal precedence for "open" or "closed" on an account?

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What is the name of your state? IN

I filed and received discharge for BK in 2001.

In reviewing my current credit reports, I see that Equifax reports all my IIB (8 in total) as "open" accounts. The number of open accounts has a directy bearing on my FICO scores, which has a direct bearing on my ability to obtain a loan and at what interest rate.

The other CRA's (TU, Exp) report them as closed. I have letters from two of the eight accounts that state explicitly that they are closed.

I have called Equifax and asked about this, the reply; "that's just our practice, that's just what we do". I asked if these accounts were open for my use and they said,"well no, to you they are closed, but technically they are open"

I have filed a complaint with the FTC on this practice, and have sent letters of inquiry to the remaining 6 accounts that I do not have written documentation that they are closed.

My question:
Is there a legal precedence as to what Open or Closed means? Either with Bankruptcy law or FCRA ?

Julie
 


Ladynred

Senior Member
EQ is reporting INACCURATE information, pure and simple ! If the OC is furnishing information that says the accounts are CLOSED, then EQ can NOT take it upon themselves to report something different !! All EQ is supposed to do, basically, is publish what is FURNISHED to them, nothing more.

What's reported must be **100% accurate and verifiable** - reporting as 'open' is neither 100% accurate, nor is it verifiable. The FURNISHER, if reporting as CLOSED, would not expect the reporting agency to CHANGE what is furnished to them !!

Time for an ITS letter, big time !!
 

dave7250

Junior Member
Sorry for this trivial post but I don't know who or what ITS is. I'm not yet familiar with all the terminology. Can someone enlighten me?
 
I'm still working on this problem. I have letters from two accounts stating they are closed. I have not received replies from the rest of the CC that I wrote to asking explicitly if they are "open".


I have to wonder; if one is considering BK would it be best to close the account, and get it in writing that it is closed before filing?
 

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