Please Help - What Just Happened

[Anonymous]

I was reading the below post about reaging

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=2175&query.id=1223...

I am still confused and would like some assistance.  Received an alert that my paid off car loan had new activity (so far only on EQ).  Below is the summary of the changes:

Acct Owner: changed from Maker to Joint Owner

High Credit: changed from 14,104 to 14,219

Terms Frequency: changed from Blank (nothing noted) to Monthly (due every month)

Date Reported: changed from 06/2002 to 04/2008

Date of Last Pmt: changed from blank (nothing noted) to 5/2002

Activity Description: changed from NA to paid and closed

Type of Loan: changed from blank (nothing noted) to Auto

Date Closed: changed from blank (nothing noted) to 05/2002

Comments: changed from Closed or paid account zero balance, Auto to Account closed at consumers request  

Here comes the kicker ... my 81 month payment history

Previously listed from 1998 to 2002 (the length of my loan) - 30 day lates Oct 01, Jan 02, Feb 02, Mar 02

Now listing 2001 to 2008 - 60 late Sep 01, 30 day late Oct 01, 60 day late Dec 01, 30 day late Jan 02, 60 day late feb 02, 30 day late Mar 02

Initially just thought updated my records, however the high credit changed and more importantly my payment history. Is this an example of reaging?  My initial payment history from 1998 to 2000 is missing AND they added 60 day lates that they did not report in the last 6 years. WIll these changes/updates negatively impact my score? What should I do?

I just brought up my scores from the mid 500's to 650 across the board.  This really concerns me.

[Anonymous]

It looks to me like the bank had not updated since 2002.....it updated (report) 4/2008

All late payments will start dropping this year....the TL will remain!   It will be a good TL and will remain on CR  10 years from date closed.

Re-aging is whem (usually a CA) changes a DOFD/DOLA from the original DOFD in order to keep SOL or CRTP and most accure from COs

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=2175

[Anonymous]

That is my confusion.  They haven't been reporting since I paid off my car.  Now they report and change the info (if you look the TL amount increase and they added 60 days which I never had).  In addition, they removed two years of clean payment history. I am hoping the incorrect addition of 60 day lates doesnt affect my score but I dont know.  Called and disputed this afternoon.

[Anonymous]

I would have left it alone-

[Anonymous]

Your replies are always so cryptic   so sweet and to the point.  Please tell me why and what I did wrong so I don't do it again.  Hey I waited almost all day for an answer and you guys act like you have jobs and no time to look at the board lol.  This is what happens when I am left to my own devices.

Edited to add: I called to dispute because of the 60 days lates.  Thought they would have a major negative impact.

Message Edited by PurpleHaze on 04-04-2008 08:54 PM

Message Edited by PurpleHaze on 04-04-2008 08:55 PM

[Anonymous]

Yes-

But they are over 2 years old (so nil affect)

I would have only disputed if these were your ONLY lates or your report-

The rest of the history (positive) is making up for the 60-

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PurpleHaze wrote:

Your replies are always so cryptic   so sweet and to the point.  Please tell me why and what I did wrong so I don't do it again.  Hey I waited almost all day for an answer and you guys act like you have jobs and no time to look at the board lol.  This is what happens when I am left to my own devices.

Edited to add: I called to dispute because of the 60 days lates.  Thought they would have a major negative impact.

Message Edited by PurpleHaze on 04-04-2008 08:54 PM

Message Edited by PurpleHaze on 04-04-2008 08:55 PM

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[Anonymous]

Hmmm I think I get.  The way I was looking at it is: this was a 4-year loan from 1998-2002. They removed clean payment history from 1998-2000 and then added on three 60-day lates (that are invalid) so I assumed I would be negatively impacted. I don't have a clear understanding of when negative information doesn't have much of an impact.

btw ... thanks for your response

[Anonymous]

Found out what happened and I am irritated.  Let me say this ... ALWAYS ENTER YOUR OWN DISPUTES IN WRITING OR ONLINE IF POSSIBLE.

I contacted Transunion to enter a dispute for me due to not having the options I needed via the online dispute process.  There was a language barrier and I did have to repeat the same information over several times, however the CSR repeated the account number to me so I ASSUMED we were on the same page .... NOT.

My dispute was with HSBC reporting my open account closed and showing the incorrect balance. The CSR sent the dispute to HNB (Huntington National Bank) whom my car loan was with. Since it was an investigation, they researched the account and UPDATED their information. Waiting for them to send a copy of my payment history because I know I was never 60 days late but that is beside the point.

Thank goodness the account isnt that recent because those 60 days could have had a severe impact. Stll don't understand how much of an impact they have because I pulled my EX report which is fully updated with my CLI's and new LOC.  My score only went up 9 pts. If anyone knows how long it takes negative info to have less of an impact toward your score please let me know.