After reading and reading, I thought I had it straight, but maybe not so much.
I am looking to refinance my mortgage very soon.
Need to decide what to do about a derog from Verizon.
My questions are below, given the following specific information from the story and from my credit report including mortgage fico scores:
Thanks in advance!
Account opened in September 2009 for wireless internet. I closed the account and started the wireless internet service on my other longer standing cellular phone account. Verizon doesn't record the cancelation. Says I owe $288. In January 2014, I paid $53 on the account when Verizon threatened to with hold needed upgrades to cellular phone service on my other longer standing account.
According to the 3B report on this site, Verizon is reported as a revolving account as follows (scores are mortgage fico)
Equifax (699 FICO Score 9): Status date 2/14, condition not updated, last activity Sept 2009, balance $0, status collection account, remarks account paid for less than full balance, Paid collection.
TransUnion(681 FICO Score 4): Status date 2/14, condition closed, balance $0, last activity Jan 2014, status payment after charge off/collection, remarks settled less than full balance.
Experian (735 FICO Score 2): Not reported. (Was shown as collections in report pulled mid 2014, maybe it aged off?)
Questions
1. Given the information on my credit report, when will this derog age off my report? 7 years from Sept 2009? or 7 years from Jan 2014?
2. How easy or stressful would disputing go given the complexity and age of the issues?
3. I know I haven't given all the details about my mortgage, but are my scores such that disputing this will make a difference in my ability to refinance. (I'm otherwise high debt utilization, low loan to value ratio).
