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Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
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Re: Experian... *wags finger*



Mocahgurl wrote:
HSBC said they report monthly whether a payment is on time or late, and experian is responsible for rating the account as positive or negative based on how many times I paid late and how many days late I was.


Lemme make sure I understand.
 
The HSBC car loan is showing as an adverse TL on EX (because they are showing late when it was not late) and showing as a good TL on EQ and TU (with no late reporting)?
 
If so, then it sounds like the TL is inaccurate on EX. Dispute it with EX as inaccurate. Since HSBC is reporting, they should correct it when EX verifies.
 
New Member
Mocahgurl
Posts: 10
Registered: ‎05-07-2007
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Re: Experian... *wags finger*

No, it shows as being paid on time, and status as 'OK'. It also notes that I have had late payments. However you know how Experian divides your accounts between positive and negative? I have my Sallie Mae loans as positive. HSBC is listed in the negative accounts, among my old collections and charged off accounts. If tha account is paid and current, as is Sallie Mae, it should show up in my positive accounts. Right now it's flagged as 'an account that is hurting my credit score'.
 
Maybe that's just the way Experian is set up. It's just messin' with me to have that TL listed there.
 
I'm inquiring about it. Will let you know if anything comes of it!
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
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Re: Experian... *wags finger*



Mocahgurl wrote:
you know how Experian divides your accounts between positive and negative?
...
HSBC is listed in the negative accounts, among my old collections and charged off accounts.
...
Right now it's flagged as 'an account that is hurting my credit score'.


But it's only showing as adverse on EX? It's a good TL on both EQ and TU?
 
New Member
Mocahgurl
Posts: 10
Registered: ‎05-07-2007
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Re: Experian... *wags finger*

Yes, I guess because TU and EQ don't divide the accounts up as positive or negative... at least not what I see from my MyFico reports.
 
 
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
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Re: Experian... *wags finger*



Mocahgurl wrote:
Yes, I guess because TU and EQ don't divide the accounts up as positive or negative... at least not what I see from my MyFico reports.

Have you pulled your CRs from annualcreditreport.com in the last 12 months? If not, do it. Get all 3. TU and EX will divide them up cleanly between adverse and good.
 
If the lates are legit lates, then it is an adverse account. Lates are generally less adverse than a collection or chargeoff, but adverse nonetheless.
 
Have you tried to GW them to get the lates removed?
 
New Member
Mocahgurl
Posts: 10
Registered: ‎05-07-2007
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Re: Experian... *wags finger*

[ Edited ]
I just noticed today that it was sitting there so I am trying to figure out what to do about it and if it should be there if I did in fact, have lates in the past. I haven't got anything from annualcreditreport because they seem so far off from myfico and you only get one report free, so I wasn't going to pay for two inaccurate reports. I'll check it out though. thanks!

Message Edited by Mocahgurl on 06-27-2007 04:18 PM
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
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Re: Experian... *wags finger*



Mocahgurl wrote:
I just noticed today that it was sitting there so I am trying to figure out what to do about it and if it should be there if I did in fact, have lates in the past.

As Tuscani said in the ethics thread, doesn't matter even if you were NOT late. Can you prove it?
 
If you know you weren't late, then dispute the late as never late.
 
If you're not sure, can you recheck old bank statements to be sure? You'd be amazed at what banks have scanned and archived these days. If that shows you were late, check with OC and find out what their grace period policy is. For example, if they don't report you late until 30 days after the payment is due, and they cashed the check 10 days after it was due, then it seems you were not late.


Mocahgurl wrote:
I haven't got anything from annualcreditreport because they seem so far off from myfico and you only get one report free, so I wasn't going to pay for two inaccurate reports.

annualcreditreport.com is free, as required by law. It's actually the closest to reality because it's your actual CR from the Big Three CRAs. Soft pulls, old addresses and employers are there--things which may or may not be on your MyFico reports.
 
New Member
Mocahgurl
Posts: 10
Registered: ‎05-07-2007
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Re: Experian... *wags finger*

Yes I was late several times and yes it can be proven-- the car was repossesed due to nonpayment. I am not trying to 'get over' on it, I just thought 24 months of time payment should mean something... it should eventually be rated a positive account. It doesn't show delinquent... it's Paid as agreed, it's just showing up under accounts that 'may be affecting my credit score negatively'. I'm still working through this with Experian and Household. According to my mortgage broker it's not affecting my credit too badly but my scores are low and if they can increase over how an account shows up that would be great. If it's supposed to be that way because of my past payment history I understand that too... except the car is almost paid off so how long is it going to sit over in the negative corner?
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
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Re: Experian... *wags finger*



Mocahgurl wrote:
Yes I was late several times and yes it can be proven-- the car was repossesed due to nonpayment.
...
I just thought 24 months of time payment should mean something... it should eventually be rated a positive account. It doesn't show delinquent... it's Paid as agreed, it's just showing up under accounts that 'may be affecting my credit score negatively'.


Lates are adverse. Repos (if it's reported as a repo) is also adverse. Even a single late is adverse.
 
Have you tried GW?
 
Regular Contributor
CreditHawk
Posts: 197
Registered: ‎06-08-2007
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Re: Experian... *wags finger*

Frankly, I wouldn't worry about it. The "negative" classification of this trade line IS something Experian is doing internally, but it's not something a lender would consider "negative" because they'll tend to look at recent performance.

If, as you say, you've kept up your payments for the past 18-24 months then that will have a positive effect on your score and how a lender views you no matter how Experian "groups" the account with others.

However, if ya want some real answers and you want to speak with a high level manager at Experian to see if they'll somehow change the description of that account to positive, then call Experian's HQ and request to speak with Lee Lundy, head of their Allen, TX Consumer Services Division. If you get his voice mail, leave him a message. I did, and they guy called me back and helped me get some action going.

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