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Sorry to keep posting, just really confused!

Frequent Contributor

Sorry to keep posting, just really confused!

My latest score watch was 607 as of yesterday.  Today, I get another SW that has decreased to 598.  I got an update today that a CO cc had changed information. I GW Barclay's bank.  They removed 3 of the 90 day lates on my account, changed the current status from Bad Debt/ Collection to Pays Account as agreed and changed the account description from Paid Charge Off to Closed or paid account/zero balance.

 

Why did I lose 7 points on this change?

 

I guess here is one example of how a GW letter can go the other way!

5 REPLIES
Epic Contributor

Re: Sorry to keep posting, just really confused!

I see no reason you should not have gained points.

 

I don't use score watch and don't know how accurate their reporting is.

Frequent Contributor

Re: Sorry to keep posting, just really confused!

Thank you for the reply. I was beginning to think I did not understand this process.

 

I also had 3 accounts that were CO deleted, a Midland account deleted, an incorrect mortgage account with a 60 day late removed, and student loan status update from late to paid as agreed. 

 

Based on all those changes, I cannot understand why I would not see an increase.  Guess I will have to wait a month or two to see what happens then.

Epic Contributor

Re: Sorry to keep posting, just really confused!

Community Leader
Epic Contributor

Re: Sorry to keep posting, just really confused!

In addition to your current account status, which only reflects you status as of today, your credit file additionally records something called your "Payment Rating."  That field of your CR retains the prior status of the account preceding the update of the current account status.  If that field code was not also reset to delete the CO, FICO is still probably picking that up.  Additionally, your payment history profile also records your historical record by prior individual months, and probbly also retains the CO.  Another way that FICO may still be picking it up.  Current status does not reflect derogs reported prior to that status code and date.

Simply stated, the update of current status does not necessarily delete the continued inclusion of the CO in your credit file,

You can send the CRA a letter under FCRA 609(a)(1) and request the current field codes for Payment Rating and for Payment History Profile, and see what is still retained in your credit file,  Requests under FCRA 609(a) require a fee of $10.50,  FCRA 612(f).  I would get the info in your credit file,

Highlighted
Frequent Contributor

Re: Sorry to keep posting, just really confused!

Thank you for the information. I averaged my accounts, and if it is just a simple average equation then my AAOa actually went up. I will request the information you responded with. Can't help but feel frustrated when it just doesn't make sense and these things seem to be working for others.