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Scoring Conspiracy With the Big Finance. Companies????

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RSCo
Established Contributor

Scoring Conspiracy With the Big Finance. Companies????

So.. Here's a summary of my Equifax and MyFico score BEFORE and AFTER some major negatives were deleted from my credit report..

 

3-30-2013 Following Negatives Were SHOWING On My Report...

 

1.  Paid and Released Federal Tax Lien - 2010

2.  Judgment - 2007

3.  Foreclosure with Zero Balance - 2007

 

MyFico Score Was 716

Equifax Score Was 690

 

--------------

 

4-3-2013 Following Negative Is THE ONLY NEGATIVE Still Showing On My Report.... 

 

1.  Foreclosure with Zero Balance - 2007

 

This is it, my only negative, nothing else.  15 open ( revolving, installment, store cards, and 1 auto loan ) and pays as agreed with ZERO lates.  Avg Age of Accounts is 7.6yrs, Oldest Acct is 17yrs...

 

My New:

Fico Score After 2 of the 3 Negative Accts were deleted is now 702..

Equifax Score After 2 of the 3 Negative Accts were deleted is now 674..

 

That's right, Both Scores DROPPED quite alot.. There are ZERO other differences between the reports, NO NEW ACCTS, NO NEW ACCT Updates, NO New Balances Reported, Just the deletion of these 2 HUGE negative accounts and my scores drop... This leaves me with just 1 negative account, the 2007 foreclosure that will drop in just 2 or 3 months but yet my scores went down...

 

There is clearly something very fishy going on with the credit bureaus... It's obvious that it's the best interest of banks and finance companies to score low as they can then charge much higher interest rates..  Very Disappointed..

 

$30,500$18,500NPSL$15,000$10,000$25,000$32,000
Message 1 of 23
22 REPLIES 22
blk8
Regular Contributor

Re: Scoring Conspiracy With the Big Finance. Companies????

Just curious and make sure I want to understand this right ... you removed the tax lien and judgement in 3 days?



FICO: EX 662 | EQ 670 | TU 681
Message 2 of 23
Henchman21
Frequent Contributor

Re: Scoring Conspiracy With the Big Finance. Companies????

Rebucketing? It's not a huge loss.
2/16/13 Scores EX: 594, TU:513, EQ:563 -- Cap One Secured: $200, Kay's: $400

GOAL #1: 625 -- CHECK!

3/31/15 Scores TU: 621 -- Cap One Secured: $750, Kay's: $900, CareCredit: $1000, Aerie $350, Fingerhut $1350

Goal #2: A travel card. REC ME!
Message 3 of 23
DiabolicallyRandom
Established Contributor

Re: Scoring Conspiracy With the Big Finance. Companies????

I just lost a point this morning from an old collection being removed and my spouse lost a point for it two days ago. Its a bit odd considering collections arent supposed to be factored into average age of accounts.  We were suspecting rebucketing for my spouse because he was down to one negative.  I really doubt rebucketing because I have two negatives left lingering.  At times I think that there is no sense to it.

Message 4 of 23
DiabolicallyRandom
Established Contributor

Re: Scoring Conspiracy With the Big Finance. Companies????

I should refresh my Equifax report and see it changed my AAOA.  

Message 5 of 23
DiabolicallyRandom
Established Contributor

Re: Scoring Conspiracy With the Big Finance. Companies????

I dont think its my AAOA considering 2 weeks ago I was at 4 years 1 month now I am at 4 years 2 months.

Message 6 of 23
Henchman21
Frequent Contributor

Re: Scoring Conspiracy With the Big Finance. Companies????

AAoA is what I thought of initially. Seems like they must be counted in because I have a rather long AAoA.
2/16/13 Scores EX: 594, TU:513, EQ:563 -- Cap One Secured: $200, Kay's: $400

GOAL #1: 625 -- CHECK!

3/31/15 Scores TU: 621 -- Cap One Secured: $750, Kay's: $900, CareCredit: $1000, Aerie $350, Fingerhut $1350

Goal #2: A travel card. REC ME!
Message 7 of 23
RSCo
Established Contributor

Re: Scoring Conspiracy With the Big Finance. Companies????


@blk8 wrote:

Just curious and make sure I want to understand this right ... you removed the tax lien and judgment in 3 days?


Hi, yes, I ran my reports on 3-30 and they were still there, they removed both of those things and I then ran my scores again on 4-3 and my scores actually dropped... These 2 changes were the only changes to my credit report.. Nothing else..

 

It was very difficult to get EX to delete the lien.. They kept telling me it was reporting correctly as released EVEN AFTER they received the IRS lien withdrawal form that instructed them to delete it from my report.. I had to request that is be deleted many times over a period of weeks and finally after I called them again, I had the lady explain to me why they were ignoring the IRS withdrawal instructions that they received from both IRS and me directly.. She finally "deleted" it from visible view, but frankly I still think they are somehow still scoring it despite it not being visible on any reports.. I don't trust these people.. They were against the IRS fresh start program from the very beginning and they are not happy about deleting what they claim to be valid stuff even though IRS is instructing them to do so with the withdrawal form..

 

$30,500$18,500NPSL$15,000$10,000$25,000$32,000
Message 8 of 23
RSCo
Established Contributor

Re: Scoring Conspiracy With the Big Finance. Companies????


@DiabolicallyRandom wrote:

I don't think its my AAOA considering 2 weeks ago I was at 4 years 1 month now I am at 4 years 2 months.


Yeah, I thought the same thing, however, I went back to previous myfico credit reports where AAoA is listed, and my AAoA did not change one bit from previous reports after these 2 old negs were deleted.. there is so much mystery surrounding scoring that I simply don't trust these people.. Think of how much money the banks are making off of us when we have lower scores... It's a big scam IMO..  just doesn't make any sense when all I have is one very old negative left on my report that will age off in 2-3 months.. Smiley Sad

 

$30,500$18,500NPSL$15,000$10,000$25,000$32,000
Message 9 of 23
RSCo
Established Contributor

Re: Scoring Conspiracy With the Big Finance. Companies????

WOW.....  Just checked CreditKarma.com and my vantage score dropped 55 points.. It went from 799 to 744....  And my transrisk score there dropped to 671 from 700...  No other changes to my report other than these deletions...

 

Huge scam......

$30,500$18,500NPSL$15,000$10,000$25,000$32,000
Message 10 of 23
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