Post Number: 1147
|Posted on Sunday, July 27, 2003 - 01:19 am: ||
Every time a creditor reports to CSC/Equifax, they put THAT address on your credit report.
I've had a client who notified them NUMEROUS times that they are sending the reports to a slightly incorrect address. They'd fix it. The next month her dispute results were again delivered by her landlady who lived at that different address.
If you have a creditor with a CLOSED account, and they report the old address - Equifax changes the address to that possibly 5 year old address.
When the next creditor reports the CURRENT address, they'll change it back.
One of the implications of this system is that people would have to notify collectors, who they are trying to HIDE from, and tell the collector their current address. Can it get any more bizarre?
Another is that people with MANY old accounts, would have to do a LOT of work notifying all these creditors, and in the process they would probably have some of the accounts DELETED - and lower their credit scores.
Well, that's how I've observed this to work, and I really hope to be able to confirm or correct my assumptions with the credit bureaus' legal departments.