Credit Report Dispute Guide

Summary

If your credit report inaccurately shows a charge-off with a balance, it may violate FCRA, IRS, and Metro 2 standards. Charge-offs should reflect a $0 balance, and re-aging accounts to extend reporting is unlawful. Dispute inaccuracies with credit bureaus and consider legal advice in Pennsylvania. Use search terms like FCRA charge-off violation or Metro 2 compliance for more information.

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First premiere bank has my account marked as a charge off as of yet as of */* they're still reporting it as a high balance of $*.*, when the account says closed as of */*/*. Are they violating
It seems like there might be a reporting issue with your account status. In New Jersey, the Fair Credit Reporting Act (FCRA) regulates how credit information is reported. Here are some key points:
- Creditors must accurately report the status of accounts.
- Charge-offs should be reported as such and not as active balances.
- Discrepancies can be disputed with credit bureaus.
You might consider disputing the report with the credit bureau. Would you like more information on how to file a dispute?
I live in Pennsylvania but are the not in violations of all of this . FCRA § 1681e(b) – Maximum Possible Accuracy Reporting a charge-off with a balance of $* is inaccurate, as charged-off debts must report as $* balance. *. IRS Publication * / Tax Rules Charged-off debts written off for tax purposes cannot continue to show balances. Reporting a balance after charge-off violates IRS guidelines. *. FCRA § 1681s-*(a)(*) – Illegal Re-Aging of Account This account, closed in *, is still being updated with balances and limits in *. This is unlawful re-aging to extend reporting beyond the *-year period. *. Metro * Compliance Violations Closed accounts must not report balances and credit limits as if active. This violates Metro * reporting standards.
It sounds like there may be several violations related to the reporting of your charge-off account. Here's a quick summary of the potential issues:
- FCRA § 1681e(b): Credit reports must be accurate, and charge-offs should reflect a $* balance.
- IRS Publication *: Charged-off debts should not show balances for tax purposes.
- FCRA § 1681s-*(a)(*): Illegal re-aging extends reporting beyond seven years.
- Metro * Compliance: Closed accounts shouldn't report as active.
If you believe First Premiere Bank is violating these regulations, you might consider disputing the report with the credit bureaus or consulting with a legal professional for advice specific to Pennsylvania. Would you like guidance on filing a dispute?
This is exactly what my TransUnion report says that's happening3820 N LOUISE AVE SIOUX FALLS, SD * Phone (*) *-* Date Opened */*/* Responsibility Individual Account Account Type Revolving Account Loan Type CREDIT CARD Balance $* Date Updated */*/* Payment Received $* Last Payment Made */*/* Pay Status >Charge-off< Terms Paid Monthly Date Closed */*/* High Balance (Hist.) High balance of $* from */* to */* Credit Limit (Hist.) Credit limit of $* from */* to */* Estimated month and year this item will be removed */*
Case Rating: *
It seems like there are several violations in how your charge-off account is reported, which may not comply with FCRA, IRS, and Metro * standards. You should dispute the report with the credit bureaus and consider seeking legal advice in Pennsylvania.
Would you like guidance on how to file a dispute?
Not at this time I will be back after I look through lawyers.com thank you
Case Rating: *
It seems you're already on the right track by reviewing information on lawyers.com. If you change your mind about needing guidance on filing a dispute or seeking legal advice, feel free to reach out. Good luck with your research!
What should my search terms be for the website
Case Rating: *
For your issue, you might consider using search terms like:
- "First Premiere Bank credit report dispute"
- "FCRA charge-off balance reporting violation"
- "IRS Publication * charge-off tax rules"
- "Metro * compliance credit report inaccuracies"
- "Re-aging account violation legal advice"
These should help you locate relevant information or legal assistance regarding the discrepancies in your credit report.