Credit Cards Center Credit cards from our partners
Reply
Established Member
Posts: 26
Registered: ‎06-29-2007
0

Re: Credit Score Changes for 2017

curious to know the answer to masscredit question if anybody has that answer?
New Contributor
Posts: 370
Registered: ‎02-07-2017
0

Re: Credit Score Changes for 2017

OK, so I have a civil judgment in my files dating from July 2011 which had to do with late homeowners' association fees on the condo I owned at that time. I paid that judgment off in 2013 (ironically, I ended up having to surrender that condo when I declared Ch 7 BK the following year). Unless I'm mistaken, that judgment was originally supposed to age off my reports in July 2018, but with these new policies, I'm not sure what happens now - I understand the key criterion is whether the CRA's are able to verify the judgment or not, and if they're not, off it comes. On the one hand, there's not really that much longer (one year and a few months) to wait for the judgment to age off naturally, but on the other hand, having that ding removed from my reports would materially help my score this fall when I plan to resume the credit card hunt (I'm in a gardening phase at this time after my mini-spree this past month when I scored Discover It and Capital One unsecured as well as PenFed used-car loan).  Ideas?

Rebuilding credit since 2015 (BK filed 8/14, discharged 12/14) - started out in 570's, now approaching 700 (FICO 4/17:TU 627/EX 662/EQ 659 FICO 8 690 NG 2, VS 3.0 4/21/17: TU 684/EX 684/EQ 691)! $951 Cap One secured/$3000 Cap One unsecured/$800 Amazon Prime Store Card/$2500 Discover It (NEW 03-21-17)/$10k PenFed used car loan/$5k Navient student loan. In the garden until Sept. 2017 unless I get an offer I can't possibly refuse...
Moderator
Posts: 16,496
Registered: ‎12-30-2011
0

Re: Credit Score Changes for 2017

[ Edited ]

masscredit wrote:

Will these items automatically be removed from credit reports on July 1st or will we have to start subitting requests?  I'd be very surprised if it happens smoothly. 


It will probably be fine; they already tweaked their query in determining the impact.

 

Doubtful making requests will be necessary, especially as I don't have any way as an end consumer though to know whether the salient information is listed with the bureaus or not... it probably is knowing California, bleh.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 693, EX 2 719, EQ 8 732, TU 8 732, EX 8 728 (2/01/17)
Goal Score:    EQ 5 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge
Established Member
Posts: 26
Registered: ‎06-29-2007
0

Re: Credit Score Changes for 2017

What reason is given in the disputes that have had success getting judgements removed ?
New Member
Posts: 1
Registered: ‎08-05-2007
0

Can I fire off a delete letter NOW for the new changes?

Hi everyone, I have a simple question...Did some research on the specifics of the new rules due to take effect July 1st. It states...

 

All Data Furnishers

Report using the newly established minimum reporting requirements for consumer personally identifiable information:

This new minimum standard will apply to accounts reported with a Date Opened after 9/15/2017 in order for the CRAs to accept these records for processing.

Following the Metro 2® format, Furnishers must report:

  • Full name (First Name, Middle Name or Middle Initial (if available), Last Name and Generation Code/ Suffix) 
  • Address 
  • Full Social Security Number 
  • Date of Birth (mmddyyyy)

Date changes must take effect 9/15/2017 

These data reporting changes must be implemented in advance of the Effective Dates.
 
I pulled the original filing of a State Tax Lein (paid 3 years ago) and it has a partially redacted SSN. So this information will eventually come pff per their new rules. My question is...Can I shoot off a delete letter now, using this as ammo and providing a copy of the original lien?? Would it be best to just wait for the automatic deletion? Not sure how to proceed...Help, advice, past experience would me much appreciated....
Established Contributor
Posts: 552
Registered: ‎05-01-2007
0

Credit bureau removal of negative trade lines

Recently national news did a story on the fico score going up for millions of consumers because of tax liens, judgements, etc. The media did not report on all the important facts. So after I did some checking here are the actual facts. Starting July 21 of 2017 the three major credit bureaus will remove negative accounts that do not belong to the consumer because of a common last name issue or a mistake. So there are three accurately points that have to be met, otherwise the credit bureaus will be removing the inaccurate information.

 

1.  Name of individual on credit report has to be spelled correctly.

2. The address must match. This can be the current address or the prior address is someone has moved

3. The date of birth or social security number has to match.

 

 

Moderator
Posts: 16,496
Registered: ‎12-30-2011
0

Re: Can I fire off a delete letter NOW for the new changes?


chayz wrote:

Hi everyone, I have a simple question...Did some research on the specifics of the new rules due to take effect July 1st. It states...

 

All Data Furnishers

Report using the newly established minimum reporting requirements for consumer personally identifiable information:

This new minimum standard will apply to accounts reported with a Date Opened after 9/15/2017 in order for the CRAs to accept these records for processing.

Following the Metro 2® format, Furnishers must report:

  • Full name (First Name, Middle Name or Middle Initial (if available), Last Name and Generation Code/ Suffix) 
  • Address 
  • Full Social Security Number 
  • Date of Birth (mmddyyyy)

Date changes must take effect 9/15/2017 

These data reporting changes must be implemented in advance of the Effective Dates.
 
I pulled the original filing of a State Tax Lein (paid 3 years ago) and it has a partially redacted SSN. So this information will eventually come pff per their new rules. My question is...Can I shoot off a delete letter now, using this as ammo and providing a copy of the original lien?? Would it be best to just wait for the automatic deletion? Not sure how to proceed...Help, advice, past experience would me much appreciated....

Wait.  If you file a dispute they can and likely will check with the source of truth, and it may be updated not to your advantage (as happened to me with Transunion).  We're talking a few more months, just wait imo.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 693, EX 2 719, EQ 8 732, TU 8 732, EX 8 728 (2/01/17)
Goal Score:    EQ 5 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.