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Donna L

Subject: Questions regarding credit report
Posted on Thu May 27, 2010 4:57 am  

I was out of work for 15 months, and subsequently, two credit cards fell into collections.

On one, the bank closed the account without transferring or allowing transfers of the balances. It just put all its debtors to collections. On the report, it shows the balance and status as a Charge-off, and has a note saying "credit line closed-consumer request-reported by subscriber". Any idea what this means, and if it affects how I can deal with the debt?

On the second, we just fell behind on payments during that time. But I've noticed that the balance on it as gone up significantly since the last report I saw in 09. The bank the card was on has also since closed. Can they continue accruing interest or raising the balance like they are when it's in collections and the account is closed?

Also, finally, there is a listing for an old auto loan that shows as closed and listed as a Charge-off, but there is no balance. Should this still be showing on the report? Is it still being there affecting the score, and if so, how much?

Thanks for all the help.


Joined: 08 Feb 2010
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Posts: 2632

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Subject: Questions regarding credit report
Posted on Thu May 27, 2010 7:50 am  

Hi Donna,

As far as I understand the line "credit line closed-consumer request-reported by subscriber" means that the account was closed on request of the consumer. So, can you tell whether you had requested the creditor to close this account?

As for the second one, as the account has been closed, the credit cannot accrue interest, or raise the balance. If the creditor or collection agency is doing so, you can file a compliant with the Federal Trade Commission, and your State Attorney General.

As for the auto loan, can you tell whether or not it has been paid off?


Keep in touch Smile

Posted on Thu May 27, 2010 11:32 am  

Actually it is legal for some debts to accrue interest. It is regulated by state. The best thing to do is to report in to a federal bank regulator.


Step one is to contact the company that has published a negative tradeline on your credit report. The type of letter that you will send will depend on the situation. In most situations, this is a request for records on the account and this letter is always sent by Certified Mail with Return Receipt Requested. 99.99% of the time the original creditor will not respond as required by the Fair Credit Act.

Next you need to determine which regulating agency to contact.
Step 2

Most of the trade lines on your credit report are from banks. All banks in the U.S. are regulated. Sometimes they are regulated your state bank regulator. These banks can also be regulated by the Federal Reserve Bank.

How do I file a complaint with the Federal Reserve Bank?

To file a complaint, you can:
• File your complaint online. To file your complaint via fax or mail, download and print the consumer complaint form from the Federal Reserve website listed below
• Call the toll-free number 888-851-1920 (TTY: 877-766-8533) 8 a.m. to 6 p.m. CST
• Send the Federal Reserve an e-mail
• Send the Federal Reserve a fax at 877-888-2520
• Write to the Federal Reserve at:
Federal Reserve Consumer Help
PO Box 1200
Minneapolis, MN 55480
In your complaint, be sure to include the following:
• Your name, address, and telephone number(s).
• The complete name and address of the bank involved in your complaint, if known.
• The names of those you dealt with at the bank, along with the dates.
• A description of the complaint. Tell us what happened. The more information we have about the problem, the faster we can investigate and respond. Include copies of letters or other documents that may help us investigate your complaint. Please send only copies of documents - do not send originals.
Step 3

If the bank in question is a National Bank then you needs to contact the Office of the Comptroller of the Currency
Contact OCC Consumer Assistance Department
• Toll Free: 1-800-613-6743
• TDD Number 713-658-0340
• E-mail:
FAX: 713-336-4301
• Hours: 8 a.m. - 8 p.m., Eastern, Monday-Friday
• Mail: Customer Assistance Group,
1301 McKinney Street, Suite 3450
Houston, TX 77010
Step 4

The other federal agency that regulates banks is the Office of Thrift Supervision.
Contact the OTS Consumer Response Center to reach a dedicated consumer affairs spec.
Office of Thrift Supervision
1700 G Street, NW
Washington, DC 20552
Phone: 1 (800) 842-6929
TTY: 1 (800) 877-8339
Monday through Friday 8:00 a.m. - 5:30 p.m., Eastern Standard Time
Fax: (202) 906-7342

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Posted on Tue Aug 05, 2014 7:52 pm  

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