Hey guys, wife & I are trying to purchase our first home through USDA Rural Housing in the near future. I have a lender who is needing me to get this cleared up, so I'm looking to you all for help. I had a Paypal Buyer Credit account from April 2009, with the original balance of $80. That was the date of last reported activity. It was "Charged Off/Bad Debt" a long time ago with a balance of $300. HOWEVER, this is still reporting EVERY month with a Revolving Balance. It's showing a revolving balance of $300!
Balance [?] Current Status [?] Past Due Amount [?]
| $300 | Bad debt/collection | $80 |
Seven year payment history [?]
30 days late60 days late90+ days late
| 2 times |
| 2 times |
| 43 times (Feb 2013, Jan 2013, Dec 2012, Nov 2012, Oct 2012, Sep 2012, Aug 2012, Jul 2012, Jun 2012, May 2012, Apr 2012, Jan 2012, Dec 2011, Nov 2011, Oct 2011, Sep 2011, Aug 2011, Jul 2011, Jun 2011, May 2011, Apr 2011, Mar 2011) |
Now, I sent out a check for th entire amont the other day, I just need them to stop reporting that I'm 90 days late. They're doing it monthly. I've tried contacting everyone I know of to pay this for the past several months, even going as far as reaching out to them via social media. Nobody seems to know where the account is, or how I can pay it, get it removed. Does anyone else have any suggestions?
My second "positive" portion of this post is as follows. I had a 533 on my Equifax MyFico, and yesterday I received a notification that my Score went up via Score Alert. Check it, sure enough, 568. Has the following information:
 | Your FICO® score has gone up to 568 on March 30, 2013. |
Your FICO score may have gone up because the following factor is not hurting your FICO score as much as before:
|
I don't understand the "made heavy use of your available revolving credit" portion that increased my score. I did use my $200 prepaid CC for a $29 purchase last month, and paid it off the next day. Would that cause such a large jump? I don't have any other revolving credit, other than the $300 that Paypal is reporting.
Sorry for the length guys, just needing some help. My TransUnion Score is good to go, Experian is my middle score, and is "almost there", will be shortly. But the Paypal is dragging everything down hard core.
Thanks for the help.
@WillF360 wrote:Hey guys, wife & I are trying to purchase our first home through USDA Rural Housing in the near future. I have a lender who is needing me to get this cleared up, so I'm looking to you all for help. I had a Paypal Buyer Credit account from April 2009, with the original balance of $80. That was the date of last reported activity. It was "Charged Off/Bad Debt" a long time ago with a balance of $300. HOWEVER, this is still reporting EVERY month with a Revolving Balance. It's showing a revolving balance of $300! A CO is just an accounting term. They can report lates each month until paid. Once paid it will still be a CO but show paid.
Balance [?] Current Status [?] Past Due Amount [?]
$300 Bad debt/collection $80 Seven year payment history [?]
30 days late60 days late90+ days late
2 times 2 times 43 times (Feb 2013, Jan 2013, Dec 2012, Nov 2012, Oct 2012, Sep 2012, Aug 2012, Jul 2012, Jun 2012, May 2012, Apr 2012, Jan 2012, Dec 2011, Nov 2011, Oct 2011, Sep 2011, Aug 2011, Jul 2011, Jun 2011, May 2011, Apr 2011, Mar 2011)
Now, I sent out a check for th entire amont the other day, I just need them to stop reporting that I'm 90 days late. They're doing it monthly. I've tried contacting everyone I know of to pay this for the past several months, even going as far as reaching out to them via social media. Nobody seems to know where the account is, or how I can pay it, get it removed. Does anyone else have any suggestions?
My second "positive" portion of this post is as follows. I had a 533 on my Equifax MyFico, and yesterday I received a notification that my Score went up via Score Alert. Check it, sure enough, 568. Has the following information:
Your FICO® score has gone up to 568 on March 30, 2013.
Your FICO score may have gone up because the following factor is not hurting your FICO score as much as before:
- You've made heavy use of your available revolving credit. They are telling you it went up because this is no longer hurting you.
I don't understand the "made heavy use of your available revolving credit" portion that increased my score. I did use my $200 prepaid CC for a $29 purchase last month, and paid it off the next day. Would that cause such a large jump? I don't have any other revolving credit, other than the $300 that Paypal is reporting. Maybe this got updated?
Sorry for the length guys, just needing some help. My TransUnion Score is good to go, Experian is my middle score, and is "almost there", will be shortly. But the Paypal is dragging everything down hard core.
Thanks for the help.
"Ratio of your revolving balances to your credit limits
5%" shows now in the "positives" section of my credit report. But check the Paypal TL, still shows the same $300 revolving.
I hope and pray that they've actually removed it, and for whatever reason, the credit report hasn't updated. This thing has wreaked havoc on all 3 of my reports. That 5% note, just don't know. 5% of $500 (PayPal $300 and capital one $200) would be the $25 showing from my purchase last month on the cap one card. Likelihood that this is it? Possibly they just haven't updated the trade line yet, just the score?
Also, did get another good bit of info, another collection, $16, cashed a PFD check. It wasn't on this report, but very happy to get that little thing off of my other report.
5%" shows now in the "positives" section of my credit report. But check the Paypal TL, still shows the same $300 revolving.
I hope and pray that they've actually removed it, and for whatever reason, the credit report hasn't updated. This thing has wreaked havoc on all 3 of my reports. That 5% note, just don't know. 5% of $500 (PayPal $300 and capital one $200) would be the $25 showing from my purchase last month on the cap one card. Likelihood that this is it? Possibly they just haven't updated the trade line yet, just the score?
Also, did get another good bit of info, another collection, $16, cashed a PFD check. It wasn't on this report, but very happy to get that little thing off of my other report.
Myfico.com
I have the TU and Equifax that they offer.
Also, a huge thanks to you for chiming in. It is much appreciated.
CHECK # null
Date
Pending
Debit/Credit
-$300.00
Balance
YES! Check the checking this am. Find this awesome pending transaction. This should help my scores tremendously.
Date
Pending
Debit/Credit
-$300.00
Balance
YES! Check the checking this am. Find this awesome pending transaction. This should help my scores tremendously.