Legal Question in Credit and Debt Law in Texas

Inaccurate info on credit report results in high interest rate
What if any recourse do I have due to the following? I found an inaccuracy on credit report in March 2006, reported as a collection. I contacted collection agency and orginator, Cingular Wireless, and was told that it was a mistake by Cingular in sending to collections. Account was paid in full last July 2005. Account was pulled from collection agency in March by Cingular. I was promised a letter and communication to credit agencies in order to clear report, but never received letter until July 10,2006. I filed a dispute with credit bureaus as told to do so by FTC, and received an update on June 28 stating the collection agency was still reporting an open and active collection. Furious, because this was a lie, and it caused my credit union to score me in the highest tier for auto financing, I persisted and finally recieved the letters promised from Mar. In the mean time, I spoke with my credit union and agreed to finance my car at the higher rate, with the loan officer telling me that as soon as I received these letters,the loan would be revisited and reconfigured with lower interest accurately reflecting my score. I've made 1 payment and they now will not consider revisiting without refinance on ''used car'' with deprec.

Asked on 7/20/06, 1:41 am

James Grissom Law Office of James P. Grissom

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Re: Inaccurate info on credit report results in high interest rate

technically you would have a claim. The question is how much did this cost you? Were you financing a Sequoia or Neon?

Answered on 7/20/06, 9:33 am

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