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@Anonymous wrote:
Looking for some advice / opinions. I have an installment loan account from Wells Fargo that was paid in full well over a year ago. Unfortunately I messed up and made the last (and final) payment on the account 30 days late. Of course Wells Fargo reported the late payment to my CR. My problem is that they are reporting the status of the account as 30 days past due even though the account is paid in full. I have disputed the account twice and it keeps coming back as valid and they will not change the status. Am I correct in thinking that it shouldn't be reported as 30 days past due when it is in fact paid in full? Thanks
Hello and welcome to myFICO.
Unfortunately it appears that WF is reporting correctly. Even though the account is paid off there was a 30 day late payment and that is allowed to show.
What you can do is contact WF with what are called GW (Good Will) letters in an attempt to get this late removed early. They are under no legal obligation to do so but GW letters have been successful with many companies. You can do a search of these forums for examples of GW letters,
Hopefully someone else will be able to give you specific departments and/or people to send these GW's to. I hope you get this fixed.
From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800, 10/10-813
TU - 8/10-772
You can do the same thing with hard work
@Anonymous wrote:
I understand that the 30 day late will show but the account is paid in full and closed. How can they report the status of the account as 30 days past due when it's paid in full.
I guess I misunderstood your first post. You are right that the status should read paid/closed or words to that effect.
Can you take a screen shot of your report and post it? Or copy and paste exactly what is on your report?
From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800, 10/10-813
TU - 8/10-772
You can do the same thing with hard work
Here's a copy / paste from my CR. I have disputed this twice now with no success. What would be my best course of action to get this cleared up?
_______________________________________________________
WELLS FARGO FINANCIAL AC # XXX
Balance: $ 0 Pay Status: >30 days past due<
STE 107
SCOTTSDALE, AZ 85251-6647
(480) 481-0966
Date Verified: 08/2009
High Balance: $ 1,091
Past Due: $ 0
Terms: $ 39 for 36 Months
Account Type: Installment Account
Responsibility: Individual Account
Date Opened: 06/2006
Date Closed: 08/2009
Loan Type: Installment Account - Note Loan
Remark: Account information disputed by consumer
Estimated date that this item will be removed: 06/2016
Late Payments:
(Last 38 months)
3
Dispute this with the bureaus as incorrect reporting. You cvan not be 30 days late and have a zero balance
I have already disputed it twice with no sucess ... ??
Ask the person you talk to how you can be currently 30 days late on account with a zero balance?
@Anonymous wrote:
I have already disputed it twice with no sucess ... ??
If you dispute this with the CRA's all they are going to do (and apparently have done) is check with WF and when WF says "Yes it's valid" then the CRA's will go no further. Talk to WF about this. The CRA's can only show what is reported to them by the creditor.
From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800, 10/10-813
TU - 8/10-772
You can do the same thing with hard work
@Anonymous wrote:Here's a copy / paste from my CR. I have disputed this twice now with no success. What would be my best course of action to get this cleared up?
_______________________________________________________
WELLS FARGO FINANCIAL AC # XXX
Balance: $ 0 Pay Status: >30 days past due<
STE 107
SCOTTSDALE, AZ 85251-6647
(480) 481-0966
Date Verified: 08/2009
High Balance: $ 1,091
Past Due: $ 0
Terms: $ 39 for 36 Months
Account Type: Installment Account
Responsibility: Individual Account
Date Opened: 06/2006
Date Closed: 08/2009
Loan Type: Installment Account - Note Loan
Remark: Account information disputed by consumer
Estimated date that this item will be removed: 06/2016
Late Payments:
(Last 38 months)
3
What I see is a closed, paid acct, with a zero balance & 3 30-day late payments over the course of the loan. It is not saying that you are currently 30 days late with this.
Is this under derogatory accts?
PLEASE...stop disputing! That is not going to help you. A GW may help you though. Check your PM's