12-16-2007 11:44 AM - edited 12-16-2007 11:47 AM
12-16-2007 11:46 AM
eljeffe wrote:I'm a little bit stunned right now.My wife and I are considering the possibility of remodeling our home next year so I pulled my credit report for the first time ever and my FICO is in the mid-600s?!?! I honestly expected it to be in the high-700 to low-800 range.
I can say, without hyperbole, that we have a truly exceptional credit history with only one problem; Several years ago I got in a dispute with eBay's credit company (GE) after I refused to pay a $29 late fee (I never received a bill yet, after they finally sent me one and the principal was promptly paid, they still pursued the late fee and wouldn't compromise). Eventually that late fee compounded to $180, was written off, and sold to a collections company.I'm SHOCKED that the write-off of one $29 late fee and the associated collection has apparently sunk my credit score like a rock despite 15+ years of paying $ thousands in bills, in full, and on time each month.
I need to get this fixed, but the thought of giving in to, what feels like, credit blackmail makes my skin crawl. Any thoughts or suggestions?
12-16-2007 11:51 AM
12-16-2007 11:56 AM
eljeffe wrote:Yes, it's the FICO score and I did pull all three reports. They are all essentially identical with only this one problem. The only thing that seems wierd to me is the fact that the collection account is dated very recently (this summer) even though it's part of the (approximately 3 year old) charge off.
12-16-2007 12:06 PM
12-16-2007 12:09 PM
This sounds like a classic PFD
eljeffe wrote:No, I haven't paid simply on principal. It seems, however, that standing on principal when it costs me this much may be a bit quixotic.I also noticed that the charge-off is $100, while the collection agency wants $180; even more fuel to stoke the fire of my discontent.
12-16-2007 12:12 PM
12-16-2007 02:27 PM
12-16-2007 04:17 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.