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Im about to give up

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nashfm
New Contributor

Im about to give up

I am so frustrated right now I could scream. I have been working on improving credit scores and it seems as if things are now worse. I can hardly even type right now. I had an old account with sprint that went to collection and I paid of in 3/05. The DOFD is 9/02. I filed a dispute because its past 7 year mark. All of a sudden I get a scorewatch update and my score dropped 38 points. It now shows that account has 74 90 day lates which is showing 90 days late every month since I paid it even though the balance shows 0. How is this even possible. And this isnt the only account. I also paid a CA that wasnt on my report. Now today, after I paid this 2 weeks ago, its on my report. Im about to give up.
Message 1 of 13
12 REPLIES 12
MarineVietVet
Moderator Emeritus

Re: Im about to give up

I am so frustrated right now I could scream. I have been working on improving credit scores and it seems as if things are now worse. I can hardly even type right now. I had an old account with sprint that went to collection and I paid of in 3/05. The DOFD is 9/02. This should be gone by the end of March. Collections will stay for 7.5 years from DOFD.

 

I filed a dispute because its past 7 year mark. All of a sudden I get a scorewatch update and my score dropped 38 points. It now shows that account has 74 90 day lates which is showing 90 days late every month since I paid it even though the balance shows 0. The individual lates will drop off 7 years from the date they occurred. This is a separate issue from the collection. How is this even possible. And this isnt the only account.

 

I also paid a CA that wasnt on my report. Now today, after I paid this 2 weeks ago, its on my report. A paid collection is just as damaging as an unpaid one. I suspect this new collection showing up might be what dropped your score. Since it is paid all you can do now is write GW letters asking that the negative entry be deleted. Im about to give up.

 

The old collections and all the lates will soon be gone. Be grateful for that. Now concentrate on getting that new collection removed.

 

Good luck to you.

 

 

From a BK years ago to:
7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

You can do the same thing with hard work

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Message Edited by marinevietvet on 03-07-2010 06:23 PM
Message 2 of 13
nashfm
New Contributor

Re: Im about to give up

I dont want to wait 7 years for the lates to fall off. Its showing 90 day lates since I paid it. Meaning that they are saying I have been 90 days late 74 months since I paid the balance to 0.
Message 3 of 13
Anonymous
Not applicable

Re: Im about to give up

write a letter to sprint collections dept.  Try a GW letter with them and be sure t explain how their action on your report has damaged your credit.  I would no dispute it with the CRA anymore because your score will fall every time they dispute and update the  account.
Message Edited by Credit-Wise on 03-07-2010 05:21 PM
Message 4 of 13
MarineVietVet
Moderator Emeritus

Re: Im about to give up


@nashfm wrote:
I dont want to wait 7 years for the lates to fall off. Its showing 90 day lates since I paid it. Meaning that they are saying I have been 90 days late 74 months since I paid the balance to 0.

I think you misunderstood what I was trying to say. The lates will drop off 7 years from the original date they occurred. For instance if you had lates dated 3/03, 4/03, 5/03 they will drop off at 3/10, 4/10, and 5/10. Just look at your reports and see when the lates originally happened and add 7 years to each of those dates.

Message 5 of 13
laz98
Senior Contributor

Re: Im about to give up


@MarineVietVet wrote:

@nashfm wrote:
I dont want to wait 7 years for the lates to fall off. Its showing 90 day lates since I paid it. Meaning that they are saying I have been 90 days late 74 months since I paid the balance to 0.

I think you misunderstood what I was trying to say. The lates will drop off 7 years from the original date they occurred. For instance if you had lates dated 3/03, 4/03, 5/03 they will drop off at 3/10, 4/10, and 5/10. Just look at your reports and see when the lates originally happened and add 7 years to each of those dates.


but didn't you say that the whole account would fall off at the end of the month?  won't all the lates fall off as well, then?

Message 6 of 13
nashfm
New Contributor

Re: Im about to give up

the dofd is 03/03. so it will fall off by october for sure. My concern is that they are reporting 90 day lates AFTER i paid this in full. In other words there are 74 (90 day lates) reported AFTER i paid in full. How can they even do this. It shows a paid balance. Its not possible to be late if its paid in full
Message 7 of 13
laz98
Senior Contributor

Re: Im about to give up


@nashfm wrote:
the dofd is 03/03. so it will fall off by october for sure. My concern is that they are reporting 90 day lates AFTER i paid this in full. In other words there are 74 (90 day lates) reported AFTER i paid in full. How can they even do this. It shows a paid balance. Its not possible to be late if its paid in full

yeah, i see what you are saying.  one of my collections is reporting that way too.  technically, they are not supposed to, & i guess you could dispute it, but disputing the account is how you got the lates on your reports in the first place, so i guess maybe you should just leave the pesky thing alone.

Message 8 of 13
MarineVietVet
Moderator Emeritus

Re: Im about to give up


@laz98 wrote:

@MarineVietVet wrote:

@nashfm wrote:
I dont want to wait 7 years for the lates to fall off. Its showing 90 day lates since I paid it. Meaning that they are saying I have been 90 days late 74 months since I paid the balance to 0.

I think you misunderstood what I was trying to say. The lates will drop off 7 years from the original date they occurred. For instance if you had lates dated 3/03, 4/03, 5/03 they will drop off at 3/10, 4/10, and 5/10. Just look at your reports and see when the lates originally happened and add 7 years to each of those dates.


but didn't you say that the whole account would fall off at the end of the month?  won't all the lates fall off as well, then?


The original monthly lates are a separate issue than the collection. The lates should have already dropped off or have begun to drop off because they happened before the collection.They cannot report longer than the 7 years from original delinquency.

 

 

Here is how and when derogs drop from you CR, and are thus no longer included in FICO scoring.

Monthly delinquencies under an OC account drop at 7 years from their individual date of delinquency. The date of first delinquency (DOFD) has nothing to do with these drop-off dates. They drop from their own individual dates. So look at each prior OC reported monthly derog date, and simply add 7 years.

If the OC subsequently reports their account as a charge off, that is a totally different and additional post to your CR. Their post as a charge-off will remain in your CR for 7 1/2 years from the DOFD on the OC account, which is the first 30-day delinquency you had on the account, and disregards any later 60/90+ delinquencies that followed. That cannot be reset.


If the OC then refers the account for collection, and a CA posts to your CR, the drop-off date of their collection reporting is the same as that of a CO. It is 7 1/2 years from the same DOFD on the OC account, and the CA cannot reset this date.

Message 9 of 13
Anonymous
Not applicable

Re: Im about to give up

Don't give up! I know it seems like you are one step forward 2 steps back right now, but you are moving in the right direction.

Keep reading and posting here in the forums. You will see improvement - it might take some time, but you will get there!

Message 10 of 13
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