topic From my own monitoring, report date and current status pl... in Understanding FICO® Scoring

Current Status and Report Date

harleyrider — Mon, 02 Apr 2007 16:37:16 GMT

Glad to see this board up and running.... hopefully we will finally be able to get some straight answers to the FICO Scoring mystery.

I have 3 negatives on my EQ report and I think they are reporting wrong.

1. Have a mortgage that was closed and paid in 2005. After many disputes this past week the tradeline was reported as:

Current status 120+ Days Past Due

Date Reported 03/2007

I say this should report closed or closed/paid as current status and the report date should reflect 2005

2. Have an account that was charged off but paid in full in 2005.

Current Status Charge Off

Date Reported 10/2006

I say this should report closed or closed/paid as current status and report date should reflect 2005

Also has been in perpetual dispute for months....

3. Have an account that was cettled for less than full balance in 2005

Current Status Charge Off

Date Reported 9/2006

I say this should report closed or closed/paid and report date should reflect 2005

Opinions plase????

Report date is just the time the information was last upd...

Anonymous — Mon, 02 Apr 2007 17:18:17 GMT

Report date is just the time the information was last updated.

Assuming the information such as late/co are correct, the data is valid really. Just because you let something charge off, then pay that, doesn't remove the fact it was charged off. Same for late payments.

Message Edited by okrogius on 04-02-2007 01:18 PM

From my own monitoring, report date and current status pl...

harleyrider — Mon, 02 Apr 2007 17:33:16 GMT

From my own monitoring, report date and current status plays a key role in FICO scoring.

example: When EQ reported this mortgage account update 3/2007 it dropped the score and put a current deliquency on my report for a zero balance account. The current status was changed from open/paid to 120 days past due.

Couple of questions: 1-Was the mortgage ever 120 days lat...

Anonymous — Tue, 03 Apr 2007 12:26:55 GMT

Couple of questions: 1-Was the mortgage ever 120 days late? Have you contacted the mortgage company to request a payment history letter and a paid in full letter and do you still have your HUD-1 Settlement statement? Assuming your payment history was kept current and with the settlement statement you can send both of those as supporting documents to the credit agencies with a dispute letter and it should be cleared within 30 days.

2&3-Again, documentation. What do you have to show when it was taken care of? Dispute and document and it should be cleared in 30 days.

Dispute and documentation should be your #1 remedy to any errors on your credit report.

Message Edited by Credit_Author on 04-03-2007 08:26 AM