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Regular Contributor
gNaRKiLL
Posts: 135
Registered: ‎11-11-2007
0

OMG 75 Point Drop and I Dont Know Why!

WTF happened to my score, I cant figure it out can someone please explain this to me. Everything is normal and I have no crazy balances, everything is zero'd out. I have made perfect payments on my car loan since I got it, my student loans, and my kay jeweler account. I have worked so hard to bring my credit from the 550's to where its at in less than a year and now its all gone.

Can anyone explain what happened?

Then I get this alert today:
Score Change 05/09/2008 Archive Alert
View/Hide Details Your score has changed from 676 to 601. View alert details for more information about why your score changed.



Account Information 05/09/2008 Archive Alert
View/Hide Details The following changes were reported for your SALLIE MAE LSCF account:-
Account Number Changed from 967525*********to 52573261***********
Balance Amount Changed from ($5 dollars less than previous balance)
Past Due Amount Changed from N/A to N/A

Creditors who you have an existing relationship with periodically report changes to your account. If you feel these changes are incorrect, contact the creditor as this may be a sign of fraud.
Company Contact Information: 1002 Arthur Dr,
Lynn Haven, FL 324441683




Score Change 05/02/2008 Archive Alert
View/Hide Details Your score has changed from 645 to 676. View alert details for more information about why your score changed.
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: OMG 75 Point Drop and I Dont Know Why!

Did Sallie Mae update the account description as, ""Arrangement made with credit grantor to make partial payments." ?
 
This seems to be going around today.  My DF's EQ score dropped 123 points because of it.
 
It appears they've begun reporting their graduated payment plans as partial payment arrangements.  DF is sending her dispute tomorrow.  We're taking this one step at a time, but we'll also take it as far as we need to in order to get it reporting the way it's supposed to.
 
Her myFICO EQ report also says the entire balance on the account is delinquent, even though she's never missed a payment on anything in her life.  This is ridiculous.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Regular Contributor
gNaRKiLL
Posts: 135
Registered: ‎11-11-2007
0

Re: OMG 75 Point Drop and I Dont Know Why!

[ Edited ]
Yes and thats what I thought was doing it.

partial payments is complete bs, they give you 5 dam options when you get the loan and you pick any one of them based on your ability to pay the loan. W

hat should I be doing right now is there any way we can get this on cnn or something?

This is a big deal and needs to be taken care of immediately by sallie mae.

I am showing that everything is fine when I pull a report straight from eq, I will pull a report from myfico and see what it says.

Message Edited by gNaRKiLL on 05-09-2008 07:10 PM

Message Edited by gNaRKiLL on 05-09-2008 07:11 PM
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: OMG 75 Point Drop and I Dont Know Why!



gNaRKiLL wrote:

I am showing that everything is fine when I pull a report straight from eq, I will pull a report from myfico and see what it says.


If it's the same as my DF's report, you can expect to have a flag by the account on the Accounts screen, even though the payment history will show no late payments.  Also, the entire balance of the account will show as being delinquent, and you'll have negative reason codes involving recent delinquency.
 
I'm so disgusted with this.

 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Regular Contributor
gNaRKiLL
Posts: 135
Registered: ‎11-11-2007
0

Re: OMG 75 Point Drop and I Dont Know Why!

I just sent in a news tip to CNN.com those who are affected should do the same, we should get the media on this.

http://www.cnn.com/feedback/tips/index.html
Regular Contributor
gNaRKiLL
Posts: 135
Registered: ‎11-11-2007
0

Re: OMG 75 Point Drop and I Dont Know Why!

Well checked my myfico eq and there is a flag next to the account but it doesnt say why but it does say that partial payment plan has been made. Other than that no lates reported on the account still.
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

Re: OMG 75 Point Drop and I Dont Know Why!



gNaRKiLL wrote:
Well checked my myfico eq and there is a flag next to the account but it doesnt say why but it does say that partial payment plan has been made. Other than that no lates reported on the account still.

Go into the "Understanding your score" section and look at the shiny new red bars on the scale.
 
Ugh.

 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Regular Contributor
gNaRKiLL
Posts: 135
Registered: ‎11-11-2007
0

Re: OMG 75 Point Drop and I Dont Know Why!



cheddar wrote:







gNaRKiLL wrote:

I am showing that everything is fine when I pull a report straight from eq, I will pull a report from myfico and see what it says.





If it's the same as my DF's report, you can expect to have a flag by the account on the Accounts screen, even though the payment history will show no late payments. Also, the entire balance of the account will show as being delinquent, and you'll have negative reason codes involving recent delinquency.


I'm so disgusted with this.









Everything is the same for me as well, unreal.
Tod
New Member
Tod
Posts: 5
Registered: ‎02-22-2008
0

Re: OMG 75 Point Drop and I Dont Know Why!

Same exact problem here - lost 124 points overnight because of Sallie Mae.
New Member
tcarroz
Posts: 6
Registered: ‎10-17-2007
0

Re: OMG 75 Point Drop and I Dont Know Why!

Same thing here! Lost 120 points and have felt sick all day; ruined Mother's Day! I am also getting my security clearance and this will not look good. MYFICO please help us!!!!

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