I am a newbie and felt like I was making progress until I received updated info and scores from Equifax. My fico was 704 before I disputed my only neg account from at least 5 years ago. With some other positive changes in debt ratio my fico went to 726 by 8/13/03. Then equifax verified my neg account but it seems the old account was re-aged and now I have a new neg comment about past due being too recent. My scores plummeted to 667 just at the time Usaa pulled my report for a credit card. Has this happened to anyone else and what do I do now.
before I disputed the old neg it had one positive comment about how my most recent past due payment is old or unknown but after the dispute they added a new neg that says the time since your most recent past due payment is too recent or unknown. On both reports they had a neg of evidence of being seriously late. Then they dropped the positive statement that the most recent past due is old or unknown
the tradeline was Capital One. I have written goodwill messages through PFB, to the CEO, and to the address given by Equifax as to who verified the tradeline. I just did that so I haven't heard back. Hopefully I will be given forgiveness and it can be resolved that way. I pulled both TU and EQ the same day and did the same thing. They both showed scores in the low 700s but once it was verified, and I also fixed the high debt ratio, TU has my score at 724 while EQ has it at 667. Its very depressing. USAA would have probably approved me in the low 700s but after EQ got through.
I did also want to say that before I disputed the Capital One tl is said under revolving "charge off" but now it says under revolving "120 past due". I am not sure if that matters because either way its an old account.
Changing from charge off to past due, is where you lost the points. I know it seems silly, but I speak from experience. Cap One had DH in 120 days past due status (R5) for forever. I finally disputed, even though I knew it wasn't paid, and they changed it to charge off (R9), his score went up 40 points. I think it has something to do with the appearance of CURRENTLY being past due vs. written off. I would redispute - "I am not currently 120 days late with this account" or "How could I be 120 days past due on an account that is paid off?"
Re: Re: disputed old tradeline with Equifax thank you so much. I will respond in that matter while I am waiting for hopefully Capital One giving me forgiveness in this situation. As a christian I am holding on to the fact that God is in control, and that He will work this life event for my good, even when it seems like there are strong forces out there, who are not working for my good, and that they will be sucessful. I said seems, because the greater one is in me. I am thankful to have found this site, and that others are stepping forward to help having gone through experiences like mine.
Re: Re: Re: disputed old tradeline with Equifax While I share the same thoughts as you, those that have negotiated with Cap One to pay off a charge off, the best they will offer is R5, (which I'm not sure why anyone would want???). Cap One is not forgiving You will have to forgive yourself and move on. Oh yeah, and on the practical side, keep disputing it until you win!
Re: Re: disputed old tradeline with Equifax Crapital One is probably one of th most vengeful companies out there when it comes to credit reporting. 95% of the time they will ALWAYS verify. Also, unless you are really lucky you can FORGET about them forgiving you on the charge off. That being said, the 120 days past due status notation is bogus. It is what is causing your score to tank. Re-dispute the status of the account as "not currently 120 days past due". If they verify, you got them nailed on a violation.
Re: Re: disputed old tradeline with Equifax Based upon the information I am receiving, you think its Capital One that is saying its an R5 instead of the credit bureau. My report says that my balance was zero and that a settlement was accepted on the account. I just fiqured whoever entered the information did incorrectly.
Re: Re: disputed old tradeline with Equifax O.K. I have another question. I looked and looked and finally found the settlement offer and where I made the requested settlement payment that the collection agency was allowed by C. One to offer. I also found the 1099C for the cancellation of debt. Would then I be able to prove that this should be an R9 and should I fax this to the credit agency. Could someone also tell me how you decide when the beginning of the end was so I can tell when 7 years gets here. I didn't think I could be in worse shape than a charge off. I stand corrected.
Re: Re: Re: disputed old tradeline with Equifax Whoa! Brakes! Do not, I repeat, do not fax the CRA anything proving that the debt was a charge off. You will self verify and it will be stuck like glue on your reports. The best way to get rid of this is to hang crap1 on violations and then use those violations as leverage to pursuade crap1 to remove the TL from your CRs.
Re: Re: Re: disputed old tradeline with Equifax How do I do what you are saying. I have my credit report and fico well documented. I pulled reports from 8/6 before I disputed. My fico was704. On 8/10 my fico was 706. I was also improving my balance/credit ratio. On 8/13 my fico was726 because my balance/credit limit ratio moved to the positive. Then I guess it was on 8/14 that I was verified and the new inaccurate information came on my record. It was also the day that USAA pulled my report for a credit application. On 8/16 I pulled that last report and fico and it had nose-dived to 667. I have spent countless hours on this, $50 in cost for 4 reports/fico, and I can't tell you emotionally what it has cost to feel finally that I was making progress, just to have Cap 1 report me as being 120 currently past due. I called the credit bureau and they just said they would resubmit for dispute. They did not answer how I could have been paid in full since 1998, and be currently 120 days late. Please tell me specifically what I need to do to proceed.
Restarting the dispute was your first step. Do not let this discourage you. We all have ups and downs. Weird updates that hurt us, stubborn creditors, CRAs that want to make your life difficult, etc. Hang in there and keep plodding away!
Thanks for the good word and encouragement. If they would have worked with me 7.5 years ago this whole thing could have been avoided. They were too busy delighting in past dues and over-the-limit and usary interest rates. If any one knows what letter I could send directly to Cap. 1 to tell that their misinformation is causing me financial and emotional distress, to cease and desist their dispensing of erroneous info. please post.
the date I paid a settlement to collection agency was 10/16/00 but I starting getting behind after 1995 because I was diagnosed with cancer and spent a year in treatment i.e.chemo. radiation, surg. I tried to work with them, but my minimum only got me further behind. That's why I disputed it because I know I've had trouble since 1996 at least. I just don't understand how they age it. Anyway they sent me a 1099C for the rest (at least what they said was the difference between the settlement and what was owed with all their charges)
