Reply
Valued Contributor
Uborrow-Upay
Posts: 2,710
Registered: ‎10-16-2008

Re: Should I expect to be rebucketed??

 


Rebuilding101 wrote:

Wow! One of my collections is on my sisters report because I had her as an AU so hopefully that will happen for her too.  I have about four collections to fall off in a few years, so I'll wait a whiles before I see those jumps.


 

Rebuilding101, if your sister has your baddie on her report because she was an AU on your card, she can have that baddie removed any time she wants to by disputing that account as "not my account"... because it isn't her account.

 

Just a heads up on that for ya!  :smileyhappy:

 

 

Frequent Contributor
Kiwill
Posts: 328
Registered: ‎09-01-2009

Re: Should I expect to be rebucketed??

+1....I bet your sisister will be extremely pleased to know those baddies can be removed from her credit file almost immediately!


Starting Score: EQ 729, TU 752, EX ? (1/1/2011)
Current Score: EQ 696, TU 718, EX 686 - PSECU (5/17/2011)
Goal Score: ALL 800+ by December 31, 2011

Take the FICO Fitness Challenge
PROUD MEMBER OF THE 700 CLUB!
Regular Contributor
Rebuilding101
Posts: 176
Registered: ‎03-11-2010

Re: Should I expect to be rebucketed??

Already on it! In fact, I bought her score watch and Qrt Monit. So I just printed the dispute page, put it in an envelope WITH stamps (so she can send it to the CRAs, this way she has no excuses to not do it) and sent them to her so she can sign and mail herself. She's already in the 700 club though, so it's not too bad. I on the other hand have like 14 negative accounts, 4 collections. :smileysad:


Starting Score(4/1/10): EQ: 631--- TU: 646
Current Score(4/1/10): EQ: 725--- TU: 686
Goal Score: EQ: 850--- TU: 850


Take the FICO Fitness Challenge
Frequent Contributor
Pushto700
Posts: 267
Registered: ‎07-28-2009

Re: Should I expect to be rebucketed??


Kiwill wrote:
Yes they are serious derogs.  BungawMO, from everything I hear around here about be rebucketed into a higher fico bracket, yes I am very excited about it and scared at the same time.  Usually, how long does it take to rebound from being rebucketed?  My plan is to enter into 2010 WITHOUT any subprime cc's.

I was rebucketed with TU, when a C/O came off this month. I was at a 671, then BAM! 625. The same detail as EQ, yet one 60 day doesn't report on EQ and it does on TU from almost 2 years go. But on the better side, when I performed a simulation with the C/O present it showed me best case scenario was 691-721...even over the next two years. Once the C/O came off and I perfomed a simulation to that score.....best case 721-751. I still have a couple baddies on there, so I probably can expect another rebucket once one comes off (as I am expecting after this case settles this summer).

 

It was disheartening to say the least, but oh well.


Starting Score: TU: ?-- EQ: ?--EX 560 (8-08)
Current Score: TU: 671 (3-10) 625 (4-10/Rebucketed)--EQ: 674 (3-10)--EX 630 (Lender 11-09)
Goal Score: TU: 750--EQ: 760


Take the FICO Fitness Challenge
Frequent Contributor
Pushto700
Posts: 267
Registered: ‎07-28-2009

Re: Should I expect to be rebucketed??


LynetteM wrote:

Kiwill wrote:

Hi Lynette, yes I disputed this and they keep saying the information was verified.  I just decided to give up and wait until it deletes because I have no clue what they will do next to damage my score.  Is there anything you suggest?  I wish I could show you my credit report.  I disputed the item in September-09 and in October, the OC reported that I was 120+ days late as of August of 2008, making this a recent late and dropping my score 30pts.  .  However, it shows ok for every month before and after that month.  How could I possibly be 120+ days one month and the months prior are paid "ok"?  They haven't updated the report since then so its obvious they just did that to upset me and keep my score low.  I'm just soo tired of it that I just left it along, I woke the sleeping giant when I shouldn't have. 


 

Unbelievable. Do you think this Aug 08 "late" payment will continue to report for 7 years?

 

Have you posted about this situation on the Rebuilding Your Credit forum? I'm no expert...but there are certainly some experts there who have been through a lot. I'd try there for advice on a dispute letter that you can write and send hard copy to the CRA. I believe there is wording you can use that can force the CRA to actually verify the late payment instead of just getting a cursory "verification" from the OC...or else delete.

 

I'd start a thread over there and try to get input.


Be careful though. By disputing a late, the Creditor could be kniving (as happened to me with a 8 year old account at the time) and not respond....deleting the entire trade line. I lost a closed TL, with 2-3 30 day lates which were actually not late. So I disputed (the third time didputing the lates) and the creditor never responded and bam...gone from mt CR's. Oh well. I left it at that.


Starting Score: TU: ?-- EQ: ?--EX 560 (8-08)
Current Score: TU: 671 (3-10) 625 (4-10/Rebucketed)--EQ: 674 (3-10)--EX 630 (Lender 11-09)
Goal Score: TU: 750--EQ: 760


Take the FICO Fitness Challenge
Frequent Contributor
bakalao2k
Posts: 448
Registered: ‎02-21-2009

Re: Should I expect to be rebucketed??

can someone please explain to me what 'rebucketing' is?  i searched this website for an explanation of this term.

 

thanks

TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
EQ - 758 - 02/21/09, 783 - 02/06/10, 805 - 09/08/10
EX (PLUS) - 781 03/23/09, 787 - 02/06/10, 783 - 08/09/10
Frequent Contributor
Pushto700
Posts: 267
Registered: ‎07-28-2009

Re: Should I expect to be rebucketed??

[ Edited ]

bakalao2k wrote:

can someone please explain to me what 'rebucketing' is?  i searched this website for an explanation of this term.

 

thanks


In a simple form it is when you are scored in comparison with thise with like profiles. Some one with a BK & 2 repos won't be scored in the same type as someone with 12 revolving charges and 20 years of excellent history. It's basically scoring like vs like.

 

Apples = Apples (some apples may look better, be less damaging, etc)

Oranges = Oranges (you get the picture)

 

What happens so often is that someone (like myself) may be rebucketed when a major derogatory (Charge off, Collection, Reposession, etc) comes off, and when it's there the ability to ascend higher (with regard to overall score potential) is limited. In my case...the best case scenario with the C/O appearing on my TU CR, the highest score I could attain over the next two years even with excellent payment history was 721 (from a 671). The C/O dropped off, and I fell to a 625 (obvious rebucket) as I am now compared to a different group of profiles. Over two years the simulation points to 751 as the highest potential point....as I still have two negative items on my CR. Once this comes off....I probably will be rebucketed again.

 


Starting Score: TU: ?-- EQ: ?--EX 560 (8-08)
Current Score: TU: 671 (3-10) 625 (4-10/Rebucketed)--EQ: 674 (3-10)--EX 630 (Lender 11-09)
Goal Score: TU: 750--EQ: 760


Take the FICO Fitness Challenge
Frequent Contributor
bakalao2k
Posts: 448
Registered: ‎02-21-2009

Re: Should I expect to be rebucketed??

Pushto700, thanks for the explanation. 

TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
EQ - 758 - 02/21/09, 783 - 02/06/10, 805 - 09/08/10
EX (PLUS) - 781 03/23/09, 787 - 02/06/10, 783 - 08/09/10

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+