Big Mess Up!

[yaya2486]

Hi, I have a question.. So my husband and I have been working hard on building our credit. Recently, we pulled his FICO with Equifax and found that it had dropped from 654 to 597! In November it was 654 and January it was 597... this was because a bank credit card had INCORRECTLY posted and reported a 30 day late to the credit bureau.. This really sucks and now has caused his FICO to be 57 points lesser than what it was! What I did was, I called the company, and waited a whole week for them to tell me they'd have this removed. I requested that they mail us a letter stating this will be removed. I haven't gotten it yet. This brings us to the question: How long will this incorrect report be taken off so this does NOT affect his FICO, and brings his FICO back to what it originally was??? Any knowledge would help. It really sucks to have worked so hard to stay on time with payments and no lates, and credit rebuilding-- only to have your point sunk back to a measly 597!!! :/

[LIGHTNIN]

Sorry to hear about this. I would suggest your DH go to the bank and discuss this problem with one of the higher up's.

Some times a face to face conversation is better then a phone call.

A helpful tip..

Go into the bank once or so a month,instead of the drive-thu.Get to know the employees at the bank,even the VP and /or the pres.

Know the bank employees by name.So when you need something or help with a problem, you already have a bond with them.

Over the years, I've found it's easier to deal with people that you have a bond with, even a small one 

[RobertEG]

If you dont get satisfaction through the informal route, then the next step is to file a direct dispute with them under FCRA 623(a)(8), placing them under a 30-day statutory period to investigate the inaccuracy and report back to you.

[pizzadude]

The good news is that FICO scoring has no memory, so as soon as the late is removed your score will return to where it was previously, assuming that nothing else has changed on your CR.