05-30-2013 08:21 PM - edited 05-30-2013 08:29 PM
Ok, So hello all, and thank you for the wealth of information held within these pages.
I went to the bank to see what steps where needed to quialify for a loan. Banker pulled my report and said" get these things off and get some history reporting and see me in a few months......" I took the report, called the three negatives listed and paid them on the spot... I know at this point that it was a mis-step but this is where I currently am working from.
I have since joined Myfico, Cc, and Usaa. I have a fair picture of what is listed for me in my reports. Read many posts, armed myself with a dangerous amount of knowledge....
I have had success with an over the phone GW removal from two (same CA) of the three negatives listed on my report. Two of the CRA's have removed the listing Experian still has it listed. Im fairly certain on the next cycle it will be removed.
My question pertains to the Final negative, It is with First Premier Bank, Opened 4/1/05, Went to collections in 3/08. Called CA currently holding account to pay in full, paid. Now in my credit report the item listing for First Premier in the Experian line shows ......nd/nd/KD(last month) My time since last derog on my report is now .1yr...... So is there anything that I should do for this specific TL?.... Can I do anything to get the "KD" reversed,or recinded? I have no good contact info for FpBank..... everything forces me to enter a card# to get to an agent......... I think I fell victim to paying before I knew the proper thing to do, This Key Derogatory is causing me much grief right now as my account history file is thin(at best).....
Any assistance Is greatly appreciated.
05-30-2013 08:41 PM
Welcome to the forums and congrats on getting those paid.
KD is a code used by Experian. It means the underlying account was CO'd, collections, foreclosure etc.
No, there is nothing to be done. It was a collections and will always be one, paid or not. Is FP showing a balance or is it 0? If there is a balance it needs to update to 0 once the CA reports to them. If it is already 0, the TL won't show paid but they will continue to update.
You can try a GW letter to them. Their website states they honor no GWs but there are some posters here who have had success with them.
05-30-2013 09:01 PM - edited 05-30-2013 09:03 PM
I thought that this was the case. So yes it shows EQ and TU show 0$ in balance line, EX shows nothing in balance line but does show "paid,was a charge off" in payment status line....At this point is there any chance somone has a phone number for them that actually has people to speak with, or is every call to them routed through the "call killer" computer system? Is there an exectuive officer that anyone has an address/name to send GW correspondance to. It is my oldest account so Im not sure I want to have it removed entirely but If Its either have a new KD or no history there which would be worse?
05-30-2013 09:07 PM
05-30-2013 09:28 PM
I always advocate a clean report versus AAoA. Do you have any other current credit?
My sentiments exactly.
05-30-2013 09:33 PM
Guiness, Yes I have bank Auto loan, current 1yr~3months, Cap One current~2months, Walmart Gecrb current~2months....... Other than that I have old second First Premier, paid in full (closed at customer request) due to their predatory lending practices, even back then I knew they where "henky"...... closed that one in 08 pretty sure....... Other than that the medical collection that is due to come off that all I have. Up to this point I have relied very little on credit.... not that I don't want any I just didn't realize how the whole system in itself worked.......
05-30-2013 09:40 PM
Well, you do have a mix of credit with an installment loan and those CCs, so that is good. That closed FP CC in good standing is still used for AAoA also, for up to 10 years from date closed.
For the new CCs, let one report a 0 balance and the other at 9% or below. Let them age with on time payments for the next 6 months to a year. Your scores will go up.
If the medical collection is paid, start sending out good will letters to see if they will remove it.
As for the negative FP account, all you can do is try using GW letters. They are pretty tough but I have seen some successes with them.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
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.