Here is an interesting situation: Before I started my credit repair journey in 1999, I purchased a new car. I have NUMEROUS lates from Chrysler financial. I hired JUNUM last December. They disputed the tradeline. When I received the results. Experian (the most inept of the CRA's) updated the loan to Paid/60 days past due. My Experian score is 609, I know if I can get that tradeline removed it should jump 30-40 points, maybe more. The loan was not paid off late, I traded the car for a new car. It should read Paid/Closed at consumers request. Now, here is my delimia. I sent Chrysler financial a certified letter last May. They never responded. I called a rude rep told me they don't have to respond to me only the CRA. I read the FCRA, and I don't see anything in there about a furnisher (Chrysler) responding to my letter to correct the information? Did I miss something? Bottom line is, I don't want them to correct the tradeline, I want it removed. Can anyone offer suggestions? The tradeline is WRONG. It was not paid off 60 days past due.
Just from my experience, I don't know that your score would really jump that many points if the tradeline was deleted. I had disputed a mortgage payment that on my report showed 4 months late. I disputed it becuase we had brought it current and it should only have shown 3 months late. I know that's not a big difference, but I thought it would help a little. Well, the mortgage company never got back to them, so they deleted the whole tradeline - a tradeline with 4 consecutive months of lates (so it showed 120 days past due) and a few other 30 day lates in the 5 year history. (this mortgage account was paid in full 9/00). My score went up a whopping *1* point. The account was from 2/99. I really thought that if it was deleted I'd at least get my Experian score to be over 700 (at 693 now). But all I got out of the deletion was one stinkin' point! I was truly disappointed. I don't know if the account was just too old to really have an impact or what. I know this really isn't apples to apples, since you're talking a car loan and I'm talking a mortgage, but I thought it might help demonstrate that getting a tradeline deleted doesn't automatically mean your score will jump. Unfortunately. =-( Ozzy.
I re-read your post and don't understand - you said it says paid/60 days late. Do you mean that you believe that this indicates that you paid off the car 60 days late??? I believe what it means is that the account is paid, but the derogatory remark is that the latest you had ever paid on the account would be 60 days late - not that you paid it off 60 days late. If I am misunderstanding this, my apologies. Just came in from cleaning snow off my hubby's truck, my feet are wet and cold and it could be affecting my brain!!! <G> Ozzy.
Ozzy, You are correct. The tradeline was updated to reflect Paid/60 days past due. Meaning it was updated to say I paid the car off 60 days late. The car was traded in December, and paid off. I notified Chrysler of the error. I am wondering if I have any recourse? I notified them certified return receipt, and I called. They still haven't fixed the problem. Does the FCRA address this? I read it but too much leaglease for me. It is an auto loan paid in full. There are many 30 day lates, plus the notation paid/60 days past due. I know it will affect my fico if I can get it removed.
