Remove and old account with one late payment

[Anonymous]

Hi,

Thanks for the great advice I found in this forum I was able to get my EQ FICO 8 in one week from 629 to 677 and EX FICO 8 to 667 (Not sure exactly what it was before, but likely in the same ballpark as EQ), I was amazed and very thankful to all the great tips and comments on the forums here.

1) GW Letter to Cominity - removed 2 late payments from 2014

2) GW Letter to Chase - removed 2 late payments from 2010 on a closed account

3) Checked reporting dates on old myFICO alerts, to find on which date each account reports and found which ones are in the next few days, lowered 2 balances on these accounts just before they reported (I have high credit utilization which is a huge reason for my low score). 

I do have a question though, I had another old account on Chase that was fully paid and closed in 2010, the account shows one late payment (30) in Sep 2010 which also when it was paid off and last reported and a $1 balance (although fully paid). I have contacted Chase and they replied that since the can't access the account on the system anymore they offered to delete the account if I request in writing, however, this is my second oldest account (opend in 2003) and I'm not sure if this is wise. 

I wonder if it would be better alternative would be to dispute this late payment instead on the CRA website and remove it this way. 

So any suggestions of what do you think I should do?

1) Dispute the late payment on this account via the CRA

or

2) Ask Chase to remove the account (which they agreed to do). 

THanks again for all the great advice here!

[gdale6]

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@Anonymous wrote:

Hi,

Thanks for the great advice I found in this forum I was able to get my EQ FICO 8 in one week from 629 to 677 and EX FICO 8 to 667 (Not sure exactly what it was before, but likely in the same ballpark as EQ), I was amazed and very thankful to all the great tips and comments on the forums here.

1) GW Letter to Cominity - removed 2 late payments from 2014

2) GW Letter to Chase - removed 2 late payments from 2010 on a closed account

3) Checked reporting dates on old myFICO alerts, to find on which date each account reports and found which ones are in the next few days, lowered 2 balances on these accounts just before they reported (I have high credit utilization which is a huge reason for my low score). 

I do have a question though, I had another old account on Chase that was fully paid and closed in 2010, the account shows one late payment (30) in Sep 2010 which also when it was paid off and last reported and a $1 balance (although fully paid). I have contacted Chase and they replied that since the can't access the account on the system anymore they offered to delete the account if I request in writing, however, this is my second oldest account (opend in 2003) and I'm not sure if this is wise. 

I wonder if it would be better alternative would be to dispute this late payment instead on the CRA website and remove it this way. 

So any suggestions of what do you think I should do?

1) Dispute the late payment on this account via the CRA

or

2) Ask Chase to remove the account (which they agreed to do). 

THanks again for all the great advice here!

---

We would not advocate a dispute of valid information and would point you to number 2 asking them to remove it via GW letter. A clean report is always more preferrable to one with lates, its going to be a decision you have to make. Welcome to My Fico

[Anonymous]

THanks for your suggstion.

I think it is not a valid information, It took some more digging, but I found that I contacted Chase in July 2009 and asked for a payment plan due to hardship, I agreed to pay a one time fee of $661 and then $95 a month till July 2010. Thanks to the Magic of Mint I can still access the payment history and confimred that I paid all on time as agreed. 

What might have happened, that there must have be a few cents left not accouned for, as in the report it says a balance of $1 was not paid on time, it seems that Chase have reported the account as paid after that, but for just Sep 2010 (2 months after I actually finished paying) they automtically reported the account is 30 days late. 

Seems to me like a valid point to dispute and clean this account instead of removing it.

What do you say? 

[RobertEG]

Is your issue now only the reporting of the 30-late, or also the reporting of a remaining $1, and thus failure to have updated to $0?

[Anonymous]

Both I guess, I wanted to get rid of the late payment using GW and all the time assumed the info is valid and that I was in the wrong, but during the process I found evidence that it is not true so I think to dispute the late payment and the balance:

1) I have paid exactly the amount that was on the the agreement with Chase, this should have brought the account to $0, not to $1.
I just found the agrement in writing that also includes tha schedule of payment and my authorization to deduct these payent automatically from my checking account (I veritied that Chase has pulled these payment with the last on July 2, 2009.

2) I have verified that I have never made a late payment on this specific account.

Does that make sense now?

[gdale6]

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@Anonymous wrote:

Both I guess, I wanted to get rid of the late payment using GW and all the time assumed the info is valid and that I was in the wrong, but during the process I found evidence that it is not true so I think to dispute the late payment and the balance:

1) I have paid exactly the amount that was on the the agreement with Chase, this should have brought the account to $0, not to $1.
I just found the agrement in writing that also includes tha schedule of payment and my authorization to deduct these payent automatically from my checking account (I veritied that Chase has pulled these payment with the last on July 2, 2009.

2) I have verified that I have never made a late payment on this specific account.

Does that make sense now?

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Ok, in this case I would first proceed with a direct dispute to Chase  

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Direct-dispute/td-p/2309095

[Anonymous]

But Chase can't do anything, they seemed to be willing to do a GW adjugsment, but since they can't access the account, this is what they offered:

Dear XXX,

Thank you for taking the time to contact us again in 
regards to the inactive account ending XXXX. 

I'm writing to let you know that we are unable to review 
or process any updates to your credit file on the above 
account because it is no longer active in our system. If 
you would like us to request the account be removed from 
your credit file, please send your written authorization. 
Please include your name, address and the account number 
in your authorization.

If you have any further questions, please reply using the 
Secure Message Center. 

Sincerely,

[Anonymous]

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@Anonymous wrote:

But Chase can't do anything, they seemed to be willing to do a GW adjugsment, but since they can't access the account, this is what they offered:

Dear XXX,

Thank you for taking the time to contact us again in 
regards to the inactive account ending XXXX. 

I'm writing to let you know that we are unable to review 
or process any updates to your credit file on the above 
account because it is no longer active in our system. If 
you would like us to request the account be removed from 
your credit file, please send your written authorization. 
Please include your name, address and the account number 
in your authorization.

If you have any further questions, please reply using the 
Secure Message Center. 

Sincerely,

---

I would not have an otherwise positive account deleted for one 30 day late from almost five years ago. 30's are minor derogs and a single one from 5 years back is not likely to be impacting your scores much at all. I would just leave it.

[Anonymous]

Can disputing the 30 day late via the CRA make harm? 

Also, the acocunt is reported as: "Current, Paid or Paying as agreed", is that ok? or will a "Fully paid" account be better? 

It is frustrating that the only option Chase is offering is to remove it alltogether instead of fixing the reporting issue. 

[Anonymous]

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@Anonymous wrote:

Can disputing the 30 day late via the CRA make harm? 

Also, the acocunt is reported as: "Current, Paid or Paying as agreed", is that ok? or will a "Fully paid" account be better? 

It is frustrating that the only option Chase is offering is to remove it alltogether instead of fixing the reporting issue. 

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Yes, it could result in deletion of the account and a hit to your AAoA