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Regular Contributor
Posts: 223
Registered: ‎12-27-2007
0

Remarks on my CRs after DMP

This is an example from one account. 
 
[TransUnion] Canceled by credit grantor  
[Experian] Account has been closed due to inactivity.  
[Equifax] Closed or paid account/zero balance
 
So, what's the deal?  Is this negative or not?  If a CCC pulled all 3 CRs, how would they interpret these remarks collectively?
 
Also, EX listed these remarks on all the accounts that were included in the DMP.  Transunion is iffy, but they usually say nothing at all...
Super Contributor
Posts: 5,712
Registered: ‎10-06-2007
0

Re: Remarks on my CRs after DMP

I graduated the DMP in November and my scores are what you see.  I got a pre-approved offer from National City for a Visa last month.
 
I did get a mortgage 4 years ago while I was in the DMP.
 
The real test is what happens when I try for a new car loan in the summer fal timeframe.  At that time I expect my score to be all over 760.
 
It is my feeling that the CCC are more interested in recent lates and your score then TL.  I will asume that any of the companies that I placed into DMP will blacklist me but thats okay, I can get everything I need from others companies.
 
Dont worry, never be late, never miss/bounce a DMP payment, dont apply for new credit (I did a mortgage though but I would be ready for one or all of your creditors to drop you from the DMP, BofA did that to me).
 
Did you graduate yet?
 
 
 
 
03/21/2016 FICO: EQ: 772 EX:773 TU:779
Regular Contributor
Posts: 223
Registered: ‎12-27-2007
0

Re: Remarks on my CRs after DMP

[ Edited ]
Hey, Marty.
 
My FICO scores are
EQ: 744
EX: 765
TU: 745
I will be done with the DMP in February. 
 
I'm not worried about getting new credit.  I'm just curious about the impression of the remarks during a manual review..


Message Edited by esshua on 02-06-2008 07:53 PM
Established Contributor
Posts: 852
Registered: ‎09-18-2007
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Re: Remarks on my CRs after DMP

I still think also, that if your score would be a problem, if they did a manual review, the fact that you went into a DMP and took care of your debts, as opposed to other options, has to count for something.
 
Is that a crazy thought?   3 years, 2 months into DMP, 7-8 months left, scores 684-694.

Starting Score: EQ 679, TU 697
Current Score: EQ 680, TU 672
Goal Score: EQ 720, TU 720


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Regular Contributor
Posts: 223
Registered: ‎12-27-2007
0

Re: Remarks on my CRs after DMP

There are some people who say that a DMP is worse than BK.  I've never been thru a BK, but I don't think I've had any "backlash" at all... 
The car dealership did a manual review.  At that time, I had about 5 accounts with "managed by credit counseling program" remark on all 3 CRs.  They asked me about it.  I explained it.  Then we moved on to finishing the app...  I wasn't considered a high risk when I entered into the DMP. Never made a late payment on anything.
I think creditors are concerned about DTI, even tho FICO doesn't figure income into their calculations.  My DTI is under 20%, and that includes my $26,000 student loan and car payment.
Super Contributor
Posts: 5,712
Registered: ‎10-06-2007
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Re: Remarks on my CRs after DMP

I feel better about the car loan.  Thanks for the info.
 
I dont think its strange that CCC should view people who graduated a DMP in a better light then those who didnt not pay the debt in full plis interest (no disrespect intended, just fair is fair).
 
I did not get the impression that BofA like DMP  and my feeling is that they would treat people in BK and CO better.
 
If I may ask, witch CCC opened your acbount after DMP?
 
If I could have only one account back from the DMP, it would be my 1979 JC Penny account.  If I could have a new CC account from a company I had in DMP, it would be Citibank, since they were the most low key about it.  BofA was the worst.
 
 
03/21/2016 FICO: EQ: 772 EX:773 TU:779

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