Can bad be good?

[gaugemaker]

I filed chapter 13 in October 2009 and was discharged April 1, 2014. My current scores according to myFICO 3-report view are EQ 689, TU 654 and EX 665. I have four credit cards (total credit line $20,100) and a car loan (current balance $12,100). All are current, cards are PIF every month and my scores, for the most part, are creeping up each  month.

I had a Discover card that was IIB but Equifax not showing it as such. The card was opened in June 2001 and shows a credit line of $7400. My EQ report shows a date of last activity of 8/2009 and four 30-day lates in January, February, March and April of 2009.

My EQ score is actually my highest score so I’m hesitant to dispute this but it bugs me that it’s incorrect. Will disputing/removing actually hurt my score? Should I just wait for the lates to drop off in 2016? Any advice is welcome!

[gdale6]

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@gaugemaker wrote:

I filed chapter 13 in October 2009 and was discharged April 1, 2014. My current scores according to myFICO 3-report view are EQ 689, TU 654 and EX 665. I have four credit cards (total credit line $20,100) and a car loan (current balance $12,100). All are current, cards are PIF every month and my scores, for the most part, are creeping up each  month.

I had a Discover card that was IIB but Equifax not showing it as such. The card was opened in June 2001 and shows a credit line of $7400. My EQ report shows a date of last activity of 8/2009 and four 30-day lates in January, February, March and April of 2009.

My EQ score is actually my highest score so I’m hesitant to dispute this but it bugs me that it’s incorrect. Will disputing/removing actually hurt my score? Should I just wait for the lates to drop off in 2016? Any advice is welcome!

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30 day lates typically affect score for up to 2 years, personally I would just leave it be as its an older account and once those lates drop at the 7 year mark you will be left with a positive account for a few years until it drops off. If you dispute the TL could just disappear or update to an IIB and possibly show more lates if in fact there were more prior to the filing of the BK.

[gaugemaker]

Thanks for the quick reply! I'll leave it alone.

[RobertEG]

Is it reporting as closed?

Is it reporting a $0 current balance?

[gaugemaker]

RobertEG,

In a report purchased directly from Equifax in August, it shows a $0 balance, $0 past due and is listed under Open Accounts. The Equifax report shows an 81-month payment chart and the four late payments appear Jan-April 2009. There are little asterisks on every other month until April 2014, the date of my discharge then no asterisks. It also shows Status: NA. All my other open credit cards say "Status: Pays As Agreed." So it seems like it's in its own little world of not-quite-open, not-quite-closed. TU and EX both list it as IIB.

[App_Addict]

LEAVE IT ALONE!!! I can speak personally that they can (and did) make it worse when you dispute.  I'll spare the details just let it sleep!