Yikes! My TransUnion score dropped 36 points

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Okay guys,

So it looks like my account was closed on April 2012, up until now the credit card company was not reporting anything additional to my credit since it had been closed.

but I guess since White Jacob's started to poke around, they went and updated everything from May 2012 - August 2017 with a "Failed to Pay" status, which is crazy because my account was closed in April 2012 so I don't understand how they could claim I am failing to pay when the account isn't even open anymore. 

Here's a screenshot of the activity: [IMG]http://i65.tinypic.com/2ch8a4j.jpg[/IMG]

This has caused my credit score to sink! It's only being reported by TransUnion by the way.

Any idea what the deal is?

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I'm assuming there was no balance when it was closed? Who was the account  with?

They are also reporting a 30, 60, 90 and 120 day late. I would get on the phone with them (the lender) and straighten it out ASAP.

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There was a balance - which is the unfortunate part. I just don't know how they are saying I failed to pay when the account has been closed and sent to collections a long time ago.

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Uhh... Wait. What? That is the very definition of "failed to pay". "Closed" simply means you are no nonger allowed to use use it, that does not mean they are not entitled to collect on it.

[Anonymous]

Understandable - so what are my options? They offered a one-time payment of 25% of the total, which is still too high and won't remove any late payments, and it would reset the 7 year time. At this point, is it best to just let this fall off my credit in two more years?

[Anonymous]

Nothing resets the 7 years.

Negotiate a PFD or let it fall off