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Thelawman2, Attorney
Category: Legal
Satisfied Customers: 1612
Experience:  Attorney-at-Law
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I have a mortgage with 5/3 Bank, NC, Let me give you a brief

Customer Question

I have a mortgage with 5/3 Bank
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: NC
JA: Has anything been filed or reported?
Customer: Let me give you a brief summary: I received an escrow annual statement, a refund check for over payment, and a letter telling me my next payment would be a reduced amount
JA: Anything else you want the lawyer to know before I connect you?
Customer: yes
Submitted: 11 months ago.
Category: Legal
Customer: replied 11 months ago.
OK-lets go :)
I submitted my next payment at the reduced amount. They sent me a letter later saying I didn't pay enough. I called the mortgage department and they told me to send a check for the short amount (about $65.00). I sent the check that day. I was told there was not an issue and they would apply the shorted payment that day.I also sent the next month's payment.In the interim I received a check from the bank for the short payment. I immediately contacted the mortgage department. They told me to deposit the check, then send a payment to the bank, which I did.I then received an alert from my credit monitoring service indicating a change in my credit had been reported. My score had decreased by 100 points because I was 30 days or more late on my mortgage payment.After reaching out to the mortgage department again they promised resolution. They then went silent and when I finally reached them they told me my payment was received more than 30 days past the due date.
Customer: replied 11 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Thelawman2 replied 11 months ago.

Hello, my name is ***** ***** I will be helping you today.

Basically, what you have here is a false/inaccurate statement on your credit report. The FTC has created a process whereby you have the ability to get this fixed and possibly sue for damages as a result of this false report.

Tell the credit reporting company (experian/transunion/equifax), in writing, what information you think is inaccurate.You can use this sample dispute letter. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request that it be removed or corrected. You may want to enclose a copy of your report with the items in question circled. Send your letter by certified mail, “return receipt requested,” so you can document what the credit reporting company received. Keep copies of your dispute letter and enclosures.

Credit reporting companies must investigate the items in question — usually within 30 days — unless they consider your dispute frivolous. They also must forward all the relevant data you provide about the inaccuracy to the organization that provided the information. After the information provider receives notice of a dispute from the credit reporting company, it must investigate, review the relevant information, and report the results back to the credit reporting company. If the information provider finds the disputed information is inaccurate, it must notify all three nationwide credit reporting companies so they can correct the information in your file.

When the investigation is complete, the credit reporting company must give you the results in writing and a free copy of your report if the dispute results in a change. This free report does not count as your annual free report. If an item is changed or deleted, the credit reporting company cannot put the disputed information back in your file unless the information provider verifies that it is accurate and complete. The credit reporting company also must send you written notice that includes the name, address, and phone number of the information provider.

If you ask, the credit reporting company must send notices of any corrections to anyone who received your report in the past six months. You can have a corrected copy of your report sent to anyone who received a copy during the past two years for employment purposes.

If an investigation doesn’t resolve your dispute with the credit reporting company, you can ask that a statement of the dispute be included in your file and in future reports. You also can ask the credit reporting company to provide your statement to anyone who received a copy of your report in the recent past. You can expect to pay a fee for this service.

Expert:  Thelawman2 replied 11 months ago.

In addition, tell the information provider (that is, the person, company, or organization that provides information about you to a credit reporting company), in writing, that you dispute an item in your credit report. You can use this sample dispute letter. Include copies (NOT originals) of documents that support your position. If the provider listed an address on your credit report, send your letter to that address. If no address is listed, contact the provider and ask for the correct address to send your letter. If the information provider does not give you an address, you can send your letter to any business address for that provider.

If the provider continues to report the item you disputed to a credit reporting company, it must let the credit reporting company know about your dispute. And if you are correct — that is, if the information you dispute is found to be inaccurate or incomplete — the information provider must tell the credit reporting company to update or delete the item.

Expert:  Thelawman2 replied 11 months ago.

If the creditor (the bank) that furnished the incorrect or incomplete information fails to correct it or advise the credit reporting agency of a correction, or if it advises the credit reporting agency of the correction, but then reports the erroneous information again later, you can file a complaint either with the FTC or, if the creditor is a large financial institution, with the federal agency that oversees that type of financial institution. The new Consumer Financial Protection Bureau oversees many types of financial agencies, so you should file a complaint there. Visit its website at and click on Submit a Complaint.

Expert:  Thelawman2 replied 11 months ago.

Finally, you can sue the credit reporting agency or the bank for reporting this false information. The FCRA lets you sue a credit reporting agency, or any other person or entity that violates the law, for negligent or willful noncompliance with the law within two years after you discover the harmful behavior or within five years after the harmful behavior occurs, whichever is sooner. There are many lawfirms that handle these types of cases. You should try finding one in your area.