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Frequent Contributor
Posts: 483
Registered: ‎06-07-2010
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Re: 1 open collection from 2004 keeping me from financing


BrandonSS wrote:

 


daboss28 wrote:

Where did you get your scores from?  Becuase fico does not differentiate score wise paid and unpaid charge off.  If they were from myfico it's possible something else happen at the time when you settled those accounts. Fico does not take that into consideration.  It should but it doesn't.


I've been paying for the actual FICOs/reports from the individual credit bureaus periodically and been on FCS.com as a monitor.  I thought the FICO took in to account open collections and closed collections.  Each report shows them in their own categoriy as well as negative.  I'm not saying you are wrong at all lol just that my past has reacted differently.  I was at 540'ish around 3 months ago now up to the current 610 area and just opened a Capital One card.

 


Only one of those could and would be real and that's the EQ score the other two are most likely vantage score and have a totally different range and scoring method.

EQ 715 8-4-12 // Walmart TU 720 8-11-12 // TU 04 744 (cc pull) 8-23-12 EXP (cc pull) 707 8-23-12
~~In my wallet: Chase Freedom, Discover More , US Bank, Walmart Discover, CitiDividend Platinum Select , Target Red Card

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Frequent Contributor
Posts: 346
Registered: ‎08-31-2010
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Re: 1 open collection from 2004 keeping me from financing

[ Edited ]

I just found this:

 

 


 

Indiana Statutes of Limitation 

 

Breach of contract for sale under UCC: 4 years.

Unwritten accounts or contracts and promissory notes or written contracts for payment of money executed after August 31, 1982: 6 years.


Written contracts unrelated to the payment of money: 10 years.

Written acknowledgement or new promise signed by the debtor, or any voluntary payment on a debt, is sufficient evidence to cause the relevant statute of limitations to begin running anew.

Judgments: 10 years unless renewed.

 


 

 

I'm thinking this collection is for an old bank account that was reopened after a check I desposited (not my check) before closing the account, bounced.  So if this is an old bank account from 2003, is it out of SOL?  Therefore I CAN dispute it without fear or anything negative happening? 

 

Also: I pulled my EQ Fico from myFICO(here) today.  It is now 618.

3/2010 - EX 555 (FAKO) EQ 542 TU 548
GOAL: 680+
Goal exceeded! - EQ - 712 TU - 701
2/2015 - 750+ across the board!
Frequent Contributor
Posts: 346
Registered: ‎08-31-2010
0

Re: 1 open collection from 2004 keeping me from financing

bump for the last post questions i made! Smiley Happy thanks!

3/2010 - EX 555 (FAKO) EQ 542 TU 548
GOAL: 680+
Goal exceeded! - EQ - 712 TU - 701
2/2015 - 750+ across the board!
Frequent Contributor
Posts: 346
Registered: ‎08-31-2010
0

Re: 1 open collection from 2004 keeping me from financing

Update for future searchers, view:  http://ficoforums.myfico.com/t5/General-Credit-Topics/Statute-of-Limitation-checking-account-contrac...

 

 

3/2010 - EX 555 (FAKO) EQ 542 TU 548
GOAL: 680+
Goal exceeded! - EQ - 712 TU - 701
2/2015 - 750+ across the board!
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