Deleting Accounts/Borrowers
Question: How can an account, or a specific borrower, be deleted from the consumer reporting agencies' files?
Answer: It is imperative that only inaccurate accounts be deleted from the consumer reporting agencies' files. In order to maintain the accuracy and integrity of consumer files, historical consumer credit information must be reported in a factual and objective manner. Paid derogatory accounts, such as collections, should be reported as paid; they should not be deleted.
To delete an entire account, report Account Status Code DA. All borrowers will be deleted along with the account history.
To delete a specific borrower, report Z in the ECOA Code field of the segment containing the consumer to be deleted.
Answer: It is imperative that only inaccurate accounts be deleted from the consumer reporting agencies' files. In order to maintain the accuracy and integrity of consumer files, historical consumer credit information must be reported in a factual and objective manner. Paid derogatory accounts, such as collections, should be reported as paid; they should not be deleted.
To delete an entire account, report Account Status Code DA. All borrowers will be deleted along with the account history.
To delete a specific borrower, report Z in the ECOA Code field of the segment containing the consumer to be deleted.
