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#431804 - 09/30/05 02:39 PM e-oscar
Anonymous
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I'm confused about e-oscar. when a customer submits a dispute to the CRA, I respond via e-oscar. If the customer makes the same dispute to the CRA over and over and over again, do I have to respond each time? Is e-oscar supposed to be watching for that, and identify the complaint as 'frivolous' or is the bank? If it is the bank, what do I do, just notify all of the CRAs? i've referred to the FACT ACT / FCRA but am still confused. thanks for any help ~

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#431805 - 10/05/05 01:15 PM Re: e-oscar
corkygirl Offline
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We respond to e-oscar over and over again, but after the 2nd time, we know that it is a repeat so it's pretty easy to do without having to go thru the investigation process. I think the individuals sometimes do this hoping that we will just get tired of the hassle, give up and change the report to get them to leave us alone
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#431806 - 10/09/05 06:55 AM Re: e-oscar
Andy_Z Offline
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I would also familiarize myself with 623(a)(8)(F), Frivolous or Irrelevant Disputes.
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#431807 - 10/17/05 03:58 PM Re: e-oscar
Anonymous
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How reliable is e-oscar as far as investigating disputes? Does it only match certain items such as Soc, account name, etc.????

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#431808 - 10/24/05 08:48 PM Re: e-oscar
SavannahOne Offline
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Please note: Disputes sent through multiple agencies will result in multiple dispute notifications - they are not aggregated.

For instance, if they complain to Equifax and Experian, you will receive 2 disputes, not just one, and must reply to both.

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#431809 - 10/25/05 12:34 PM Re: e-oscar
waldensouth Offline
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FINALLY ABOVE the gnat line
which is one reason we no longer report to anyone but Equifax - we no longer receive disputes from anyone but Equifax. However, there are still those customers who dispute over and over - the problem here is the CRAs let them and if we don't respond - the CRA will wipe our record off of their file. This is how those credit repair companies get their client's credit file cleaned up. Do you want to let them get away with it or not? I've not found a mechanism for reporting a dispute as frivolous to the CRA via e-oscar. Does anyone else know of a method to do so?
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#431810 - 10/31/05 08:48 PM Re: e-oscar
upstateNY Offline
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Quote:

which is one reason we no longer report to anyone but Equifax - we no longer receive disputes from anyone but Equifax. However, there are still those customers who dispute over and over - the problem here is the CRAs let them and if we don't respond - the CRA will wipe our record off of their file. This is how those credit repair companies get their client's credit file cleaned up. Do you want to let them get away with it or not? I've not found a mechanism for reporting a dispute as frivolous to the CRA via e-oscar. Does anyone else know of a method to do so?



Your response brings up an issue that we have tossed around many times. We currently report to TU, Experian and Equifax. Knowing that each bureau has its own strengths and weaknesses, we have a terrible time keeping each one accurate. They each receive the same tapes, the exact same information, but don't always report the trades the same way. How did you come to the conclusion to only report to one bureau? And did this have any adverse effect? Did your customers complain? Any feedback would be appreciated.

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#431811 - 10/31/05 09:50 PM Re: e-oscar
waldensouth Offline
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FINALLY ABOVE the gnat line
We had a number of complaints from customers that the info in their credit bureau reports were not correct when we were reporting to all three. One in particular consistently reported the info we sent them incorrectly causing our customers a problem. Our tapes were correct - their reports were not. We stopped reporting and asked them to delete our customer records from their files. I, personally, pulled all 3 bureaus credit reports on me thru annualcreditreport.com and Equifax only had 1 error - the others had multiple. We've had no customer complaints concerning the change.
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#431812 - 11/01/05 04:10 PM Re: e-oscar
upstateNY Offline
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New York State
Thanks Walden. This is exactly the scenario at our bank. I'd be curious to know what other banks are doing. Are you reporting to multiple credit bureaus, two, or one? Any comments from others would be appreciated.

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#431813 - 11/10/05 10:08 PM Re: e-oscar
biz Offline
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Midwest
We report to one CRA. We've had more complaints (including #!@") words from mortgage companies trying to put on a high rate second mortgage, than we have from our customers . And when this happens we always make a point of calling the customer and explaining that all the company needs to do is pull from the bureau we report to. Our customers are rarely upset and fully understand. But, we've saved a lot of loans by calling them and having that conversation with them. It's actually all kind of amusing!

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#431814 - 11/17/05 04:48 PM Re: e-oscar
aanderson Offline
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Quote:

I would also familiarize myself with 623(a)(8)(F), Frivolous or Irrelevant Disputes.




Can you please let me know where I would be able to find this? Is this in the Credit Reporting Resource Guide?

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#431815 - 11/17/05 05:01 PM Re: e-oscar
Dan Persfull Offline
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That is a section of the Fair Credit Reporting Act.
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#431816 - 11/18/05 02:08 AM Re: e-oscar
Andy_Z Offline
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#431817 - 01/04/06 09:33 PM Re: e-oscar
river girl Offline
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We report to three credit bureaus and two of them are updating correctly but one never does. After numerous phone calls and frustration can we tell our customer they need to deal directly with the credit bureau? What else are we suppossed to do to get the information updated correctly when the credit bureau doesn't respond to us?

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#431818 - 01/10/06 08:56 PM Re: e-oscar
murphysgirl Offline
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My two cents: If you have a contract with FNMA I believe that they require banks to report to all three major CRA's. Check your agreement with investor groups you may sell loans to before you knock off the other two bureaus.
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