topic Re: Derog VS Closed/Paid in General Credit Topics

Derog VS Closed/Paid

Anonymous — Wed, 27 Jun 2007 23:24:36 GMT

I have a couple of older items on my CRs. On TU and EQ, the account condition is reported as "Closed/Paid" with a $0 balance. On EX, they are noted "Derogatory" with the same $0 balance. And my EX score is by far my lowest. DO I need to take action on this? Is there a difference between "Closed/Paid" and "Derogatory"?

Re: Derog VS Closed/Paid

Anonymous — Thu, 28 Jun 2007 01:02:32 GMT

was the account CO?

Re: Derog VS Closed/Paid

Cory — Thu, 28 Jun 2007 13:55:24 GMT

TexMontana wrote:
I have a couple of older items on my CRs. On TU and EQ, the account condition is reported as "Closed/Paid" with a $0 balance. On EX, they are noted "Derogatory" with the same $0 balance. And my EX score is by far my lowest. DO I need to take action on this? Is there a difference between "Closed/Paid" and "Derogatory"?

BUMP

Will someone answer this questions please, as I would like to know also.

Re: Derog VS Closed/Paid

Anonymous — Thu, 28 Jun 2007 14:05:07 GMT

Yes there is a difference.

I would contact the CO and ask them to update the status.

If they refuse- refute the "status"

TexMontana wrote:
I have a couple of older items on my CRs. On TU and EQ, the account condition is reported as "Closed/Paid" with a $0 balance. On EX, they are noted "Derogatory" with the same $0 balance. And my EX score is by far my lowest. DO I need to take action on this? Is there a difference between "Closed/Paid" and "Derogatory"?

Re: Derog VS Closed/Paid

Anonymous — Thu, 28 Jun 2007 14:06:04 GMT

have another question...On a paid mortgage...if one CRA is reporting on the condition line-closed and one is reporting transferd and the last is reporting closed(paid) and the loan was really closed(paid) could this affect my scores?

And does a 30 day late on a closed mortgage acct. in oct/03 have any current impact on ones CR's?

sorry for all the questions tonight...just really been looking at all three CR's more careful and there are alot of minor diff.

Re: Derog VS Closed/Paid

Anonymous — Thu, 28 Jun 2007 14:12:01 GMT

TexMontana wrote:
I have a couple of older items on my CRs. On TU and EQ, the account condition is reported as "Closed/Paid" with a $0 balance. On EX, they are noted "Derogatory" with the same $0 balance. And my EX score is by far my lowest. DO I need to take action on this? Is there a difference between "Closed/Paid" and "Derogatory"?

More info is needed. Was it closed by you or by the creditor? Was it a charge off? A collection?

Help us to help you

Re: Derog VS Closed/Paid

Anonymous — Thu, 28 Jun 2007 14:13:19 GMT

The accounts were paid-in-full collections.

Re: Derog VS Closed/Paid

Anonymous — Thu, 28 Jun 2007 14:58:53 GMT

If they were CA's

Try a GW letter

Paid CA's are no better for your score than unpaid CA's.

Re: Derog VS Closed/Paid

Anonymous — Thu, 28 Jun 2007 14:59:28 GMT

technically any collection is going to be regarded as a derog. You can dispute is as paid, to get the paid next to it though, but even a paid collection isn't going to change the derog status of the account.

Re: Derog VS Closed/Paid

Anonymous — Thu, 28 Jun 2007 15:07:05 GMT

Thanks~

I did send GW letters earlier this week. Two collections, each under $100. We'll keep our fingers crossed that the GW gods look favorably upon me!