The negative listing itself must be recorded correctly. Items such as the amount owed, the date entered, the status and nature of the listings must be accurate. It’s very common for creditors to enter this data incorrectly to the detriment of the consumer.
Another example is accounts that were in dispute at the time of listing. Should a consumer contact a creditor and dispute a bill, the provider should not enter a negative credit listing unless the dispute has been resolved prior. It is common for creditors to list a payment default when the account is being disputed.
Should a consumer contact a creditor and inform them they are having difficulty making payments, the provider may be obliged to offer financial relief by way of freezing the account for a period of time, altering the payments or adjusting the term. If a creditor does not offer financial relief they may be in breach of legislation and industry practices.
Therefore a payment default or other negative listing should not be entered on a credit report.
In some cases, extreme hardship can also be used as an effective negotiation platform to remove a negative credit listing.
These cases are treated on a case by case basis, however, situations such as serious illness or family tragedy can be considered when disputing negative credit listings from the file. Call us now if this applies to you. We are here to help.
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