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Valued Member
Posts: 26
Registered: ‎04-19-2011
0

Verizon just killed my credit

I was in the process of trying to rebuild my credit so I could buy a new house and I just hit a brick wall today.  I owed Verizon $593 and had decided to call them and fix everything before it could go to a CA and really hurt me.  I called them and settled the account on the phone and spent 2 months waiting for them to update and according to simulators my credit score would of took a big jump since it was the only outstanding balance I had and it was afftecting my Util %.  Today I got the SW alert and my score dropped!! I was baffled so I paid to get a new score power report and Verizon changed my CR to show that the account was paid now but updated to show that it was 120 days past late every month for the last however long it was since the original problem started.  I went from thinking today myay be the day I was going to be eligible to get a loan to being totally hosed.  I tried to do the right thing and now my credit score is ruined for it.  My last late payment went from being over 2 years ago to now being only 1 month ago.  I even decided to go back to Verizon for a cell phone since they were so good about trying to help me resolve this.  Grrrrr, what a day.


Starting Score: EQ 551 TU 590
Current Score: EQ 628 TU 682 EX 684 (11/29)
Goal Score: 680


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Contributor
Posts: 93
Registered: ‎05-20-2011
0

Re: Verizon just killed my credit

Really sorry to hear that Mike.  I have no advise as I am new to this as well.  But I can tell you a positive attitude goes a long way with dealing with OC/CA's. 

 

Wishing you the best of luck my friend.

myFICOisNOTWACKO but MYFICOisWACKO get it?!?
6.18.2011Lender pull:
EX-640 Fair Issac V2/TUClassic 04-658/EQ Beacon 5-741
5.20.2011 myFICO pulls:
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Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
0

Re: Verizon just killed my credit

Sorry to hear that.  But, now that it is paid you can start sending GW letters.

 

When you say you settled, did you actually settle for less or just settle as in paid it?

Mega Contributor
Posts: 15,453
Registered: ‎04-09-2011
0

Re: Verizon just killed my credit


Mike_P wrote:

I was in the process of trying to rebuild my credit so I could buy a new house and I just hit a brick wall today.  I owed Verizon $593 and had decided to call them and fix everything before it could go to a CA and really hurt me.  I called them and settled the account on the phone and spent 2 months waiting for them to update and according to simulators my credit score would of took a big jump since it was the only outstanding balance I had and it was afftecting my Util %.  Today I got the SW alert and my score dropped!! I was baffled so I paid to get a new score power report and Verizon changed my CR to show that the account was paid now but updated to show that it was 120 days past late every month for the last however long it was since the original problem started.  I went from thinking today myay be the day I was going to be eligible to get a loan to being totally hosed.  I tried to do the right thing and now my credit score is ruined for it.  My last late payment went from being over 2 years ago to now being only 1 month ago.  I even decided to go back to Verizon for a cell phone since they were so good about trying to help me resolve this.  Grrrrr, what a day.


Not many ppl would advise it, but since the debt is paid it might be in your best interest to try a credit repair service. You can certainly do the same thing they do as sending DV/GW letters but it looks a lot more credible coming from a law firm and they can keep the paperwork going to them until they finally get tired of verifying and give in on deletion. It's not cheap but from what your saying you need this gone so you can buy a house so it could be beneficial to you.




EQ FICO 548 3/3/16
Valued Member
Posts: 26
Registered: ‎04-19-2011
0

Re: Verizon just killed my credit

I say I settled because when I called them to work out payment arangements the CSR asked me how much I could pay and I told her $325 or $375 (don't remember exact amount from almost 3 months ago now) and I expected her to take it and ask when I would be able to pay the rest but she said they would accept the offer and consider the account paid in full.  Even asked if I would like to reactivate my account, I declined but then two months later went back and got another account with them.  They didn't do anything wrong or illegal I know but it sucks that I tried to fix it with them and they end up making it worse on my credit than if I just never paid them and just let it go it's own course. 


Starting Score: EQ 551 TU 590
Current Score: EQ 628 TU 682 EX 684 (11/29)
Goal Score: 680


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Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
0

Re: Verizon just killed my credit

What I was getting at was maybe if you offered to pay the difference they would agree to remove the TL.

Valued Member
Posts: 26
Registered: ‎04-19-2011
0

Re: Verizon just killed my credit

My originally thought was that Verizon hurt my credit but did nothing wrong but after thinking about it, I am not sure I am right there.  Can Verizon report that I had a 120 day late last month and every month previous for quite some time even though I had no phone and no bill for those months?  I ended my contract with them some time ago, can they report that I was 120 days late every month until I pay it?  I am just grasping at straws here but I am hoping to find something I can use.


Starting Score: EQ 551 TU 590
Current Score: EQ 628 TU 682 EX 684 (11/29)
Goal Score: 680


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Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
0

Re: Verizon just killed my credit

Yes, if you were 120 days late, they can report you as 120 days late every month until paid.  

Established Contributor
Posts: 961
Registered: ‎02-07-2011
0

Re: Verizon just killed my credit

I think the previous poster's advice to send Verizon a PFD offering to pay the difference between the original balance and what you settled for in exchange for a deletion is a great idea. Definitely worth the try and could get allof this resolved quickly if they agree.

Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
Jan 2012 Current Scores: FICO EQ 604 FICO EX ??? TU98 623
Feb 2012 Goal Scores: EQ 620 EX 620 TR 620 (or just the middle to be 620!!)
Valued Member
Posts: 26
Registered: ‎04-19-2011
0

Re: Verizon just killed my credit

Talked to Verizon today and they told me that they did not intend for EQ to report the way that they did.  They say that EQ misunderstood what Verizon was trying to say when they got my CR update.  They CSR at Verizon said that she would try to clean up the language to the CRA's but that I would probably need to dispute it on my CR in order to get it to change.  I have no problem disputing it on my EQ report but how would I know how TU and EX are reporting it?  I just got my free credit reports last month so I can not pull them and check, I can get a TU score update and see if it dropped a lot due to this mess but I don't know how to go about seeing how EX is reporting this now.


Starting Score: EQ 551 TU 590
Current Score: EQ 628 TU 682 EX 684 (11/29)
Goal Score: 680


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