02-16-2013 12:32 PM
Last summer (12') I paid a CO that was on my account for a few years from GM Financial. After I paid the CO in full all of my credit reports updated to 48 late payments instead of a CO (Paid in Full). Is there anything I can do?
02-16-2013 01:44 PM
Yes, it dropped my equifax score (FICO) by 30 points. I tried to dispute it after it was paid, but instead GM financial updated the status to charge off paid. The balance says zero, but it also updated to 48 missed payments. This looks really bad.
02-16-2013 02:13 PM
02-16-2013 05:34 PM
02-16-2013 07:06 PM
No contact information provided by Equifax
|48 times (Aug 2012, Jul 2012, Jun 2012, May 2012, Apr 2012, Mar 2012, Feb 2012, Jan 2012, Dec 2011, Nov 2011, Oct 2011, Sep 2011, Aug 2011, Jul 2011, Jun 2011, May 2011, Apr 2011, Mar 2011, Feb 2011, Jan 2011, Dec 2010, Nov 2010, Oct 2010, Sep 2010)|
|The Worst Delinquency reports the worst missed payment status that has been documented on this account. Your FICO® score evaluates how recently that missed payment occurred and in general, the more recent, the more impact it has on your score. However, the fact that it occurred is still predictive of future payment risk and could be considered by your FICO® score.|
02-16-2013 07:30 PM - edited 02-16-2013 07:32 PM
02-16-2013 08:22 PM
I'm a little confused on this one. Where did you get that report from? It should not have dropped you like it did. For one thing, I can't believe the OC held onto the account for so long without doing a CO and selling to a CA. Secondly, I don't like the way it updated after paid.
On a positive note, it is now paid and you no longer owe the debt. I would try a few rounds of GW letters and see where that gets you.
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.