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Frequent Contributor
Posts: 289
Registered: ‎11-23-2011
0

Question About CO Reporting Lates

[ Edited ]

I have a quick question about CO's with lates.

 

The only negative on my account is a Bloomingdales CO from 2008. I've come to the realization that they will never delete it, so I will just have to wait until it falls off. 

 

Anyway, there is 30x1, 60x1, and 90x5 (ouch) lates reporting from 2008. This shows up on Equifax, however those lates aren't on my Trans and EX reports.

So my question is....

 

Is the CO with lates on my EQ report taking a bigger hit than the CO without lates reporting on my Trans and EX reports?

 



Scores: EX: 793 EQ: 804 TU: 801
Epic Contributor
Posts: 21,590
Registered: ‎03-19-2007
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Re: Question About CO Reporting Lates

Only Fair Isaac can answer that question with certainty.  It depends on how they score cumulative delinquencies and derogs, and the innards of their scoring algorithm are not public.

One way, of course, would to be to separately score each prior delinquency and derog, and simply sum them up to get a total.

Another way would be to incorporate the damage level into the highest level of derog reported in the current chain, and "include" the lower levels as assumed to have occured.

 

The second way makes more sense to me, as a charge-off, for example, invariably requires prior levels of delinquency.  I see no real logic in treating the severity of the charge-off differently in the scoring of two consumers, one of which the prior delinquencies were reported, and the other for which the creditor chose not to report the prior delinquencies.

The consumer is at the same level of derogatory status either way.  However, that is just my speculation.

Valued Contributor
Posts: 1,115
Registered: ‎10-31-2011
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Re: Question About CO Reporting Lates


ccb2115 wrote:

I have a quick question about CO's with lates.

 

The only negative on my account is a Bloomingdales CO from 2008. I've come to the realization that they will never delete it, so I will just have to wait until it falls off. 

 

Anyway, there is 30x1, 60x1, and 90x5 (ouch) lates reporting from 2008. This shows up on Equifax, however those lates aren't on my Trans and EX reports.

So my question is....

 

Is the CO with lates on my EQ report taking a bigger hit than the CO without lates reporting on my Trans and EX reports?

 


is this a paid CO if not you could always try the PFD route or GW the 90s like send one out every week

ccpics2.jpg
Frequent Contributor
Posts: 289
Registered: ‎11-23-2011
0

Re: Question About CO Reporting Lates

[ Edited ]
It was paid about 7 months ago. I've GW the CEO about 4 times and have gotten calls back from the executive office each time stating that they do not change or delete accurate information. I guess it wouldn't hurt to send another one, but the CEO actually wrote back twice via email before I received calls from his assistants stating, "Sorry. There's nothing I can do". It's frustrating because although I've heard Bloomys is really tough, I've read that they have deleted or removed lates in the past (both accurate and inaccurate information), but they won't budge with me.



Also, thanks for your response Rob. Makes perfect sense. I guess I'm just trying to figure out why My Trans and Equifax scores are so similar when (693, and 698, respectively). EQ is reporting a 1% util and Trans is reporting a 31% util yet the scores are so close. Maybe the util is not making that much of a difference or maybe the different agencies just score differently. Who knows.


Scores: EX: 793 EQ: 804 TU: 801
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