Wells Fargo reporting improperly

[Anonymous]

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@BungalowMo wrote:

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@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

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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

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Actually if you look up a bit further the account status is being reported as "30 days past due"

Yes it is listed as a derogatory acct.

Is disputing going to make it worse?  What other recourse do I have.   And thanks for the PM.

[RobertEG]

The answer is as simple as can be.

Credit reporting has many fields of reporting.

Current status code reporting is only, as you have said, as of the current reporting, which is paid in full.

But credit reprotng has many fields of information that are not just updated, month to month and erase prior reporting, but rather retain prior reporting.

Account payment hsitory profile recorrds monthly drogs over at least the past 24 months.

What is being properly reported is the existence, in your payment history profile, of the prior reporting of those prior  derogs.

It is not your current acount status.  FICO finds this in your CR.

[BungalowMo]

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@Anonymous wrote:

Actually if you look up a bit further the account status is being reported as "30 days past due"

Yes it is listed as a derogatory acct.

Is disputing going to make it worse?  What other recourse do I have.   And thanks for the PM.

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Fair enough...I did not see that.  But, I would still stop disputing & go with the GW info that I pm'd you.  You need to go with the person at the top who can actually make the changes you need....not a faceless csr sitting in front of a script.