Falsely reported late payments

[Anonymous]

So I have been fixing my credit for over a year now. Making great strides...going from low 500s to almost in the 700 club...until today. Backstory is I had 3 late payments in 2011 on an old capital one account...the account was also closed in 2011. As I'm getting ready to begin the process of home buying I was told to write a goodwill letter to capital one to see if they could remove those 3 late payments. I did last month and eagerly awaited...what i got today was an update from TU that my score dropped 53 points!! Why? Because capital one did update my file but reported my closed account since 2011 as having 3 late payments in January, February and March of 2017. Someone please help me and give me some advice...am I screwed out of 53 precious credit points even if they fix their screw up. Will they even fix it?


Signed,


Highly frustrated

[Themanwhocan]

Did you pay the money that was due back in 2011?

Do your credit reports still show the late payments from 2011?

Where exactly did you see the 53 point change? Is it from a free online site like creditkarma?

[Anonymous]

Yes I paid in 2011…the late were Feb,  March and April and I was current in May then decided to close the account. 

The 53 pt drop was from myfico...I got the report immediately from TU and from what I'm seeing it won't let me go back past 2015 on the fico report.

[DaveInAZ]

Well, that should be an easy, straighf forward dispute - if the account is reported as being closed in 2011 then it obviously can't have late payments in January, February and March of 2017. Dispute directly with TU, if you have a Credit Karma account, or create one, they have Direct Dispute for TU, I don't know if MyFico has direct dispute. You'll get your points back when it's fixed, credit scores are from that snapshot in time, when it's fixed it's as if it never happened.

[RobertEG]

The fact that the account was closed does not preclude reporting of account delinquencies if the debt remained unpaid, so the issue is when the account became paid, and not whether it was closed.

If have account records showing when the account was paid and thereafter remained in a non-delinquent status, then file a dispute of the accuracy of any reported delinquencies on a debt that did not exist, and thus could not be delinquent.

The CRA must then forward a copy of your dispute to CapOne, who must then investigate and reply back to the CRA.

If, as suspected, it is only and admin error on the part of the creditor, their investigation should result in deletion of the erroneous derogs.