DIY Metro 2 Compliance Letters     
Quest Credit Solutions has an affective and affordable DIY solution for requesting e-OSCAR to verify the Metro 2 Compliance reporting of items on your credit reports. This solution forces e-OSCAR to work to your benefit, not the benefit of the Credit Reporting Agencies. There is a Difference between a traditional credit dispute and a Metro 2 Compliance based request via e-OSCAR. 

The Metro 2 Compliance request is a tactic of credit enhancement that requests that triggers e-OSCAR to electronically evaluate whether the all data was mandatorily perfect and complete Metro 2 Formatted Reporting Standards was properly reported within the compliance standards set forth by the FCRA. The FCRA requires that only data which is Factually Documented to be physically verified as fully true, correct, complete as reported, timely in reporting, of a known responsibility and ownership, or else wisely validated. 

With the Metro 2 Compliance Request, if the check for compliance is deficient or delayed or refused or else wisely questionable in any manner, it will contest the accusing with a lawfully leveraged challenge to demonstrate the certification of factual reporting (the process as well as the item itself of reporting) which includes the mandatorily perfect and complete Metro 2 Formatted Reporting Standards, the applicable requisites of the FCRA and the applicable requisites of the FDCPA, and or any other standard or regulation otherwise, be it mentioned or not.

Compliance of Reporting is a minimal standard of reporting not an optional one whereas the truth and validity of claims is a minimum standard of collection but not all items that meet collection standards meet the requisites of reporting. The fact is, you can have a collectable item not be legally reportable. 

Understanding Metro 2 Compliance
At Metro 2 is the standard format for which financial institutions must electronically send data about their loan customers electronically to the major credit reporting agencies (CRAs).  One of the goals/benefits that should be derived from using a standard format should enable banks to comply with the Fair Credit Reporting Act (FCRA) and the Equal Credit Opportunity Act (ECOA).  

The Consumer Data Industry Association (CDIA) provides the definitions that go along with Metro 2 language.  Recently, federal regulators have placed an increased emphasis on the completeness and accuracy of the data being transmitted to the major CRAs and data being published by the each of the CRAs.

A review of the CFPB’s Consumer Complaint Database noted over 50,000 complaints from January 1, 2016 through February 28, 2017 related to credit bureau reporting.  The accuracy of the data being reported to and by the major CRAs is critical to a consumer’s ability to receive credit in today’s marketplace.  Below are some tips to ensure your credit bureau reporting process is complete and accurate.

What is e-OSCAR    
e-OSCAR is a web-based, Metro2 compliant system that has been developed by Equifax, Experian, Innovis and TransUnion, this automated system that enables Data Furnishers (DFs), and Credit Reporting Agencies (CRAs) to create and respond to consumer credit history disputes. CRAs include Equifax, Experian, Innovis and TransUnion, their affiliates or Independent Credit Bureaus and Mortgage Reporting Companies. e-OSCAR also provides for DFs to send “out-of-cycle” credit history updates to CRAs. 

The system primarily supports Automated Credit Dispute Verification (ACDV) and Automated Universal Dataform (AUD) processing as well as a number of related processes that handle registration, subscriber code management and reporting. 

ACDVs initiated by a CRA on behalf of a consumer are routed to the appropriate Data Furnisher based on the CRA and subscriber code affiliations indicated by the DF. The ACDV is returned to the initiating CRA with updated information (if any) relating to the consumer’s credit history. If an account is modified or deleted, Carbon Copies are sent to each CRA with whom the DF has a reporting relationship.   

AUDs are initiated by the DF to request out-of-cycle credit history updates. The system is used to create the AUD and route it to the appropriate CRA(s) based on Subscriber Codes specified by the DF in the AUD record. The e-OSCAR AUD process is intended to provide the CRA with a correction to a consumer’s file for consideration outside of the regular activity reporting cycle process. e-OSCAR may not be used to add or create a record on a consumer’s file or as substitute for “in-cycle” reporting to the CRAs.

We understand that a lot of people would prefer to take on the task of repairing your own credit and have found yourself not really knowing where to start, what letters to use, what to write in your letters, or you are simply frustrated that all of your disputes are coming back as verified by the credit reporting agencies. You might want to employ a different tactic.

Disputing derogatory items on your credit reports is one tactic but not the only tactic to get deletions. Yes, disputing derogatory accounts can be effective but there are going to be those accounts that will always come back verified because they are indeed accurate and the creditors are able to validate the debt. Another tactic you can use is to challenge the derogatory accounts from a compliance standpoint. Just because an account is accurate and verifiable doesn’t mean it is in compliance with its reporting.

When we send in a dispute the credit reporting agencies use a computer system called e-OSCAR that processes and conducts the investigation, almost all of this is done electronically which is why some disputes come back as verified even though they are clearly reporting inaccurate. When you challenge the Metro 2 Compliance standards for derogatory accounts you are actually utilizing e-OSCAR to your benefit, which is a very effective tactic. You are forcing e-OSCAR to evaluate these accounts based on whether the reporting is within the compliance standards it is required to follow. If the reporting of the account isn’t 100% in compliance then e-OSCAR must delete the account from your credit reports.

Challenging accounts based on the Metro 2 Compliance standards is rather difficult and there isn’t really a standard or template letter that can be used because of the language required for each specific account. This tends to make challenging accounts on your credit reports based on Metro 2 Compliance not an option for many.

This is why we have put together this DIY Solution where we will provide you with the properly formatted and language specific Metro 2 Compliance letters for you to send to the Credit Bureaus. We charge a flat fee of $75 per wave of letters that we will email you as a PDF, you are responsible for printing and mailing the letters. Repairing your credit is a process and for these letters to be successful it will require a minimum of 4 waves of challenges over 90 days to get the desired results you are wanting. 

To get your Metro 2 Compliance specific letters please answer the questions on the form below and you will receive an email from us outlining what we will need from you to send you your letters.

By entering my contact information and clicking “Submit My Information” I consent to the User Agreement and Privacy Policy
 Secure Area | This webform is protected by 256-bit SSL security