topic Re: I2 and M5, How bad is it hurting my FICO score? in Understanding FICO® Scoring

I2 and M5, How bad is it hurting my FICO score?

IvDogg — Fri, 28 Mar 2014 04:18:51 GMT

Hi All, I have a I2 and M5 reporting for two of my accounts for their account status that were paid and closed in 2011. The I2 is reporting as closed the M5 is reporting as open. How bad are these hurting my score right now?

I'm working on getting these resolved and hoping that doing so will provide a big boost to my score which is about 670 right now.

Please let me know what you guys think, thank you.

Re: I2 and M5, How bad is it hurting my FICO score?

AndySoCal — Tue, 01 Apr 2014 01:14:35 GMT

I would consider take steps to correct those two accounts. You cannot be late on an account when you do not owe any money. If the accounts stopped reportting in 2011 then the impact me not be as bad. The lates should only report until you brought the accounts current. My simple question is to who ever you ask How can I be late on an account when I do not owe any money.?

Re: I2 and M5, How bad is it hurting my FICO score?

IvDogg — Tue, 01 Apr 2014 04:46:20 GMT

I've gotten a partial success. The I2 is from GM financial, per their last letter, they are reporting accurately, I've managed to get some direct contact info from someone in their compliance department... I plan on calling/faxing daily until I get the response I'm searching for.

The M5 is from PNC Mortgage, instead of getting it fixed I was able to get EX to delete it 4 months sooner than the CRTP. Think I'm just going to try that with EQ...

Could disputing the EQ reporting cause it to show up on EX and TU if they update their reporting? Or when a CRB deletes something from CRTP it cant' come back?

Thanks.

Re: I2 and M5, How bad is it hurting my FICO score?

AndySoCal — Wed, 02 Apr 2014 17:23:52 GMT

I would contact PNC Financial and ask them how you can be currently late on an account you do not owe any money.. If the the bureeau deletes the account and it re-reported by the lender it will show on your credit report provided it is still in the CTRP.

Re: I2 and M5, How bad is it hurting my FICO score?

IvDogg — Wed, 02 Apr 2014 19:19:20 GMT

AndySoCal,

Thanks for the feedback. I wish I could call someone at PNC Mortgage that could actually help me, when I call I only get CSRs that can't seem to really help me, even after persistent phone calls.

The account was deleted from EX & TU via early deletion from CTRP. Since I got them to delete it early, it can still re-appear on my report? Thanks.

Re: I2 and M5, How bad is it hurting my FICO score?

AndySoCal — Wed, 02 Apr 2014 23:07:42 GMT

It can still re-appear if PNC re-reports the account. Look at your credit report and look at the date it was last reported if it is not recently then I would not worry about it.

Re: I2 and M5, How bad is it hurting my FICO score?

IvDogg — Thu, 03 Apr 2014 01:38:15 GMT

I'm it doesn't.... I got early deletes from TU & EX, DoFD was 7/2007... For my dispute on the M5 status with EQ, I specifically stated that I am not requesting an update to TU & EX because it is reporting fine. Hopefully they won't be jerks and update the reporting there anyway.

Re: I2 and M5, How bad is it hurting my FICO score?

IvDogg — Thu, 03 Apr 2014 05:20:45 GMT

Updates!

I just got my dispute results back from EQ, hopefully they didn't send inaccurate updates to EX and/or TU...

So looking at my dispute results they got rid of some accurate negative information (which I didn't request), but are still inaccurately reporting my account status as Over 120 Days Past Due. I'm not really too concerned about the comments, they say "Account Paid After Foreclosure Started" which was not true, I was protected by SCRA rights prior to the shortsale, so they could not have started a foreclosure without a court order (which I also disputed).

As for the accurate and negative info they did delete, they wiped my payment history clean. I wasn't paying my mortgage prior to the short sale (I was told to stop, I've heard this is common?). So 20 - 90+ past due months, 2 - 60 days past due, and 2 30 days past due marks were removed.

Anyways, I'm looking for suggestions for what I should do for my next move:

- See if my persistence and getting an early deletion from EQ as I was successful with EX & TU? I've heard EQ is the hardest to get this from, is that correct? Worse case it will be gone by the end of July.

- Attempt to dispute this again? Which is worse? To have my account status show "Over 120 Days Past Due" (M5)? Or have all those late payment history marks?

On a side note, my PLUS score should update from my USAA Credit Monitoring so I'll let everyone know how much better (if any) it gets.

Thanks everyone.

Re: I2 and M5, How bad is it hurting my FICO score?

AndySoCal — Thu, 03 Apr 2014 23:04:27 GMT

It will be interesting to see how it is reported after your dispute. The dispute can/ might cause the lender to re-report the account to all three bureaus. I hope it is not an I-8.

Re: I2 and M5, How bad is it hurting my FICO score?

IvDogg — Thu, 03 Apr 2014 23:56:26 GMT

Latest Updates!

I wasted almost an hour of my life this morning on the phone with PNC Mortgage. I managed to get a higher level seeming manager than usual. She explained that the response was that they had already reported my account information accurately and responded to EQ only verifying the previously reported information.. After patiently talking to this lady for sometime I actually believed her... BTW, if anyone wants her contact info, please PM me.

Next I called EQ and request to speak to someone from their Executive Consumer Services Department, which they said they did, but it seemed like I was speaking to someone in a regular call center. They explained to me that PNC had reported that my account was closed, paid in full and not currently past due... BUT, that EQ is 'accurately' reporting my "Current Status" as "120+ DAYS PAST DUE" because once an account hits the 120+ days past due mark it cannot revert back to "PAYS AS AGREED". Is that really accurate? Legal?

I would love to initiate legal action because this just sounds illegal to me, but it's not worth my time or gain.

After verifying (from my point of view) that nothing could be done about the Account Status, I asked for early deletion because the DoFD was 7/2011. They said the earliest they could delete it was 6/1/14 and that it would automatically be deleted by 7/7/14. So I'm just going to be persistent and try my best to get this deleted no later than 6/1/14 with persistent phone calls to EQ.

Still waiting on my update for GM Financial, I'm still being told that it will update within the 30 days of my dispute timeframe.

Re: I2 and M5, How bad is it hurting my FICO score?

IvDogg — Thu, 17 Apr 2014 09:07:06 GMT

To Update:

- Got the whole M5 TL removed early from my CR.

- Got in touch with someone at GM financial and it now reports I1.

Re: I2 and M5, How bad is it hurting my FICO score?

TrulyyBlessed — Fri, 18 Apr 2014 16:49:49 GMT

@AndySoCal wrote:
It can still re-appear if PNC re-reports the account. Look at your credit report and look at the date it was last reported if it is not recently then I would not worry about it.

That reminds me of a question: If your reports are froze can a creditor/collection company re-report a trade line that the bureau previously deleted? Anyone ever experienced this? Thanks for any info.

Re: I2 and M5, How bad is it hurting my FICO score?

IvDogg — Thu, 01 May 2014 19:09:41 GMT

So my PNC mortgage has been excluded from my report for being obselete, and GM Financial was fixed...

It popped back up with the inaccurate status again, showing my account as currently past due, yet $0 balance, account closed... It doesn't make sense, but it still effects my score negatively.

After the current account status change from Pays as agreed, to 'Pay 31-60 late' or similar my score dropped by at least 10 points on EQ.

How do I get permanent results from GM financial on this??