Reply
Highlighted
Established Member
Posts: 16
Registered: ‎06-14-2012
0

Found out I had collection that credit report didnt catch, what to do?

I signed up for myfico and got my equifax score which says 580. I kept wondering why it looked bad. It states that I have a collection and the collection agency is "905YC00310" for "Firstenergy Cor", I guess its from my old house from a utility bill-bad divorce- (which would be appx middle of 2009), and that the date assigned is May 2012 .  I didn't know about this and when i ran all my credit reports, including Equifax on June 13, 2012, it has no mention of collections and its "0".  I was going through at that time and paying stuff off, trying to get my life together.  This collection is only for $157.00.  It's so frustrating that I just found out about this and I'm sure it's killing my score for 157 bucks.  I obviously want to pay it and speak to somebody on Monday.  What can I say to them when I pay it off to try to get this off my report as quickly as possible?  Also, how do I find out who "905YC00310" is?  Why didn't the equifax report I got in the middle of June catch this?

On another side note...the reason I was inquiring my actual score was because I am looking into getting a motorcycle loan. I have all bills paid off and can easily pay this.  I am wondering if a motorcycle loan is a good way of increasing my score, providing I am able to get one after getting this collection taken care of, by making timely payments every month?

Thanks everybody and sorry for all the questions.  This forum has been an unbelievably helpful tool with trying to change my financial life around.

Epic Contributor
Posts: 21,245
Registered: ‎03-19-2007
0

Re: Found out I had collection that credit report didnt catch, what to do?

One of the primary provisions of the FDCPA is intended to prevent the very situation you now face..... a submarine collection being reported to your credit file, and thus appearing in your credit report, without your knowledge.  FDCPA 809(a) requires a debt collector, after beginning collection activity by contacting you or reporting to your CR, to send a dunning notice within 5 days therafter, informing you of their collection activity, the name of the creditor, and the amount of the asserted debt.

 

They have apparently violated that requirement.  Violation of timely dunning notice requirement is not, per se, basis for requiring deletion of their reporting, but you can file a complaint with the FTC, your BBB, etc., or bring legal action.  Meanwhile, lack of dunning notice may give you some leverage if and when you call them.

 

You might, in your discussion with them, agree to overlook their violation of FDCPA 809(a) if the agree to a PFD.  They have unclean hands in their collection activities.

Established Member
Posts: 16
Registered: ‎06-14-2012
0

Re: Found out I had collection that credit report didnt catch, what to do?

Thank you for the response, I will be using that when I contact them.  Speaking of contacting them, how do I find out who they are?

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: Found out I had collection that credit report didnt catch, what to do?

Pull your CRs directly from the CRAs or annualcreditreport.com.

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 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.

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.