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Regular Contributor
XxRaVeNxX
Posts: 201
Registered: ‎08-19-2012
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Closed Account Reporting Correctly? Possible to Dispute?

So, I applied for a Discover Card, and was denied due to a (Closed as reported by the CRAs) student loan that to them shows current status states: 120 Days Past Due.

 

I have another closed account, that had a few lates, but still shows pays as agreed when it closed...

 

Well, according to the payment history, that isn't accurate, I assume, because it's being paid by the government(insured)

 

Is this reporting accurately or can I dispute this? Anyway to fix this before 2014, when it falls off?

 

Chase Southwest $5000 - November 2012 Wal Mart $1000 - November 2012 NFCU Visa $5,000 - Sept 2012 NFCU NavCheck $3,000 - October 2012 Amazon $900 - Aug 2012 Kay's Jewlery $2700 - Aug 2012 Buckle $250 (Shopping cart trick) - October 2012 Roaman's $250 (Shopping cart trick) - October 2012 Capital One Secured $225 - April 2012 Capital One Platinum $2500 - July 2012
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Revelate
Posts: 9,029
Registered: ‎12-30-2011
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Re: Closed Account Reporting Correctly? Possible to Dispute?

Hopefully a mod will move this to the Undertanding FICO scoring as you'll get a better answer there.

I'm not certain on this but it looks like it was closed with the 180 day late reporting, pretty much like a credit card delinquency being charged off. I don't know that this is accurately reporting, but I don't think it will matter for scoring purposes.
Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
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Regular Contributor
XxRaVeNxX
Posts: 201
Registered: ‎08-19-2012
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Re: Closed Account Reporting Correctly? Possible to Dispute?

My bad, hopefully this is moved to the rebuilding your credit forum

 

Yea..Not really concerned for scoring purposes..Just approval/underwriting purposes..

Chase Southwest $5000 - November 2012 Wal Mart $1000 - November 2012 NFCU Visa $5,000 - Sept 2012 NFCU NavCheck $3,000 - October 2012 Amazon $900 - Aug 2012 Kay's Jewlery $2700 - Aug 2012 Buckle $250 (Shopping cart trick) - October 2012 Roaman's $250 (Shopping cart trick) - October 2012 Capital One Secured $225 - April 2012 Capital One Platinum $2500 - July 2012
Valued Contributor
trumpet-205
Posts: 2,454
Registered: ‎11-11-2010
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Re: Closed Account Reporting Correctly? Possible to Dispute?

Just because it is government backed does not mean you will have good payment history if you miss a payment. I don't see anything wrong with it. In fact is that 180 days late?

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Regular Contributor
XxRaVeNxX
Posts: 201
Registered: ‎08-19-2012
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Re: Closed Account Reporting Correctly? Possible to Dispute?

But, they've received payments since Feb 2009...

 

See, I'm basing this on another account that is closed, had lates, but states pays as agreed...

 

Chase Southwest $5000 - November 2012 Wal Mart $1000 - November 2012 NFCU Visa $5,000 - Sept 2012 NFCU NavCheck $3,000 - October 2012 Amazon $900 - Aug 2012 Kay's Jewlery $2700 - Aug 2012 Buckle $250 (Shopping cart trick) - October 2012 Roaman's $250 (Shopping cart trick) - October 2012 Capital One Secured $225 - April 2012 Capital One Platinum $2500 - July 2012
Valued Contributor
trumpet-205
Posts: 2,454
Registered: ‎11-11-2010
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Re: Closed Account Reporting Correctly? Possible to Dispute?

[ Edited ]

Think of it as cosigner. Should I default, lender will go after my cosigner, but will still report me late because I didn't fulfill my obligation to repay the debt.

 

I am not sure how government insured loan works, but I believe government only steps in and foot the bill when it is charged off?

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Regular Contributor
XxRaVeNxX
Posts: 201
Registered: ‎08-19-2012
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Re: Closed Account Reporting Correctly? Possible to Dispute?

Both pics are from student Loans...the first one is Sallie Mae, the second one is Nelnet...

Chase Southwest $5000 - November 2012 Wal Mart $1000 - November 2012 NFCU Visa $5,000 - Sept 2012 NFCU NavCheck $3,000 - October 2012 Amazon $900 - Aug 2012 Kay's Jewlery $2700 - Aug 2012 Buckle $250 (Shopping cart trick) - October 2012 Roaman's $250 (Shopping cart trick) - October 2012 Capital One Secured $225 - April 2012 Capital One Platinum $2500 - July 2012
Valued Contributor
AndySoCal
Posts: 1,895
Registered: ‎04-07-2009
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Re: Closed Account Reporting Correctly? Possible to Dispute?

A difference btween the twe screenshots it that the second one says refinacned. Sounds like the loan was tranasferred somewhere lease.  The first one is goverment claim which is not a paid as agreed. If it was paid as agreed there would no need for the claim. The account is reported correctly Let it fall off or pay the amount owed back

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