Can Oliver Adjustment Company remove an account from my credit file?
Answer Does Oliver Adjustment Company have the ability to remove an account from a consumers credit file? Yes. Will we? Generally, no. Per the Fair and Accurate Credit Transaction Act of 2003 (FACT Act), Congress further required all data furnishers to be even more accurate in what gets reported to a consumers credit file. The Act requires data furnishers to report what is ‘true and accurate.’ So if a credit grantor tells you to call Oliver Adjustment Company and ask to have the account removed, most likely the answer you will get is a ‘we are not able to do that, we have to report what is true and accurate.’ Reporting accuarcy when an account is paid does not constitute it be removed. If there is an error in the reporting of the account such as not showing paid give us a call and we will notify the credit bureau you received the information from to request they update their file to paid. Data furnishers have the ability to remove accounts or amend credit files to correct any mistakes
Related Questions
- If a Covered Institution does not have any sweep accounts or automated credit accounts, is it necessary to generate a Sweep/Automated Credit Account file?
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