Experian: Meaning of "Key Derogatory"??? (and more) - Credit Repair Forum from Creditnet
Results 1 to 6 of 6
  1. #1
    cma
    cma is offline Senior Member
    Join Date
    Aug 2002
    Posts
    681

    Experian: Meaning of "Key Derogatory"??? (and more)

    According to Experian, the meaning is:

    **Key Derogatory = Claim, Term Default, Government Claim, Paid by Dealer, Bankruptcy Chapter 7, 11 or 12 Petitioned, or Discharged and Bankruptcy Chapter 7, 11, or 12 Reaffirmation of Debt Rescinded.

    Question 1: Does this mean its a negative line on your credit report, but has no weight on your credit score?

    The reason I don't see it carries any weight is of the 30 tradelines on my report about 8 carry this KD rating the last many months, but when I check Experien's Plus Score and Risk Level assessment, the "SCORE FACTORS THAT ARE NEGATIVELY AFFECTING YOUR SCORE" show mine not listing anything about too many KDs or charged off accounts.

    Question 2: If an account is KD, it shows under comments "Transferred to another lender or claim purchased". Do these typically disappear when requested to validate?
    cma

  2.  
  3. #2
    apexcrsrv is offline Registered User
    Join Date
    Nov 2006
    Posts
    2,558
    If it has a KD in the history, it's effecting your scores if relatively new. Pay no mind to a Plus score insofar as no one uses that except Macy's and Bloomingdales.

    The answer to your second question is no and validation is not used in relation to credit reporting agencies insofar as they don't have to validate accounts.

  4. #3
    cma
    cma is offline Senior Member
    Join Date
    Aug 2002
    Posts
    681
    Quote Originally Posted by apexcrsrv View Post
    If it has a KD in the history, it's effecting your scores if relatively new.
    Any idea how much of an impact if in the last couple of months? Significant (greater than FICO 20 pts) or less?
    cma

  5. #4
    Contribute is offline Newbie
    Join Date
    Oct 2008
    Posts
    1

    MAJOR Problem with Key Derogatory

    Here is the major problem with Experian's KD rating (I am going through this myself). The whole reason I short saled - and actually came out of pocket 3K to do so - was so that I could buy in as little as two years. Since I now have a KD on my record which is considered a foreclosure, I am not allowed to buy property for five years (according to FannieFreddie lending guidelines). I know many of you out there will say I got what I deserved (you're probably right) but that is a separate issue. Point is I went through the months of hassle, inconvenience, and out of pocket cash to short sale instead of foreclosure when there was no benefit to do so.

  6. #5
    sooozeq is offline Junior Member
    Join Date
    Oct 2008
    Posts
    11
    i'm new at this game, so this might be a really dumb question.
    does any kd hold the same weight as a bankruptcy or foreclosure?
    also, i just checked my credit report and found a few accounts that i am not sure about. if i ask for validation or just ask what they are, will that send up a red flag to them and will they then come after me? they very well could be accounts that are mine, that i have no idea about, but i do not want them to come after me right now as i am getting ready to go to court with citibank.
    thanks for the help!
    suz

  7. #6
    BANKFRAUD is offline Newbie
    Join Date
    Apr 2013
    Posts
    1

    Re: MAJOR Problem with Key Derogatory

    Quote Originally Posted by Contribute View Post
    Here is the major problem with Experian's KD rating (I am going through this myself). The whole reason I short saled - and actually came out of pocket 3K to do so - was so that I could buy in as little as two years. Since I now have a KD on my record which is considered a foreclosure, I am not allowed to buy property for five years (according to FannieFreddie lending guidelines). I know many of you out there will say I got what I deserved (you're probably right) but that is a separate issue. Point is I went through the months of hassle, inconvenience, and out of pocket cash to short sale instead of foreclosure when there was no benefit to do so.

    No honey, do not apologize for anything. That BANK defrauded you. And NO, you DID not deserve that. Banks practice in fraud. Every single loan out there today is fraud if it came from a bank. Banks lend you NOTHING. YOU are actually the creditor, and that bank is the debtor. When you signed that promissory note you handed them "essentially" cash, they handed you a "check" back... was that a loan? NO, it was an EXCHANGE.
    This is what they do every single time they issue a "purported loan"..
    There are 3 key questions to ask the bank, do it in writing and send it certified mail. KEEP COPIES and a FILE on everything you send as well as any return items you receive. DATE the return items as to when you received it in the mail.
    Here is what they would have to produce in order testability that a loan was made that you may have a debt:

    1. Produce documentation of prior title, ownership and rights to the money they purportedly loaned you;

    2. produce documentation of the history and origin of funds that they purportedly had prior title, ownership and rights to that they purportedly loaned you (banking requires 3 generations at least if not all the way back to issuance/creation of the alleged funds…this is why banks issue a letter of origin/history of funds);

    3. produce documentation of the actual transaction and transfer of said funds (prior title, ownership, and rights) from loaner to borrower (invoicing/receipts) there is a difference between a “loan” and “debt”, conceptually and factually

    They will not be able to provide you with these items because they DO NOT EXIST. LOANS ARE FRAUD!

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Sign up for the Creditnet email newsletter.

Creditnet - Find the right credit card for you Best Airline Cards Best Gas and Groceries Cards Balance Transfer CreditNet Best Credit Cards for Building Credit

Find a
Credit Card

Research, compare, & apply

Bad Credit

0% Interest

Cash Back

No Annual Fee

search

Perusahaan Outsourcing Bekasi

Outsourcing Tenaga Kerja