topic Re: BARRY or someone that Knows ! in General Credit Topics

BARRY or someone that Knows !

Anonymous — Fri, 11 May 2007 21:49:43 GMT

Myfico gets its reports from the CRA"S , is that correct OR does creditors report to myfico also? I don't think that is the case, But here is my dilema...................... I have one 30 day late being reported to Ex. If I pull my Ex file directly from them, the information is being reported correctly. (I called Ex to verify that it was correct also)...............On my Ex report that I pull from myfico, the information is incorrect. The tradeline states that the account has been 30 day's late one time in the 7 yr reporting section, but in the 81 month payment history it has a red box with 60 days late instead of 30 days.

Is that mistake affecting my fico score?

Re: BARRY or someone that Knows !

Tuscani — Fri, 11 May 2007 22:04:39 GMT

jdeezy wrote:
Myfico gets its reports from the CRA"S , is that correct OR does creditors report to myfico also? I don't think that is the case, But here is my dilema...................... I have one 30 day late being reported to Ex. If I pull my Ex file directly from them, the information is being reported correctly. (I called Ex to verify that it was correct also)...............On my Ex report that I pull from myfico, the information is incorrect. The tradeline states that the account has been 30 day's late one time in the 7 yr reporting section, but in the 81 month payment history it has a red box with 60 days late instead of 30 days.

Is that mistake affecting my fico score?

Correct... myfico doesn't hold or own your reports. Myfico getsyour info from EX.. there should be no descrepencies.

Re: BARRY or someone that Knows !

Anonymous — Fri, 11 May 2007 23:45:17 GMT

That's what I thought. I have contacted EX and they said that they would send MYfico an updated report. I hope that this works because all of the copies that I have from Ex is reported correctly. So I don't really know if a updated copy will help. I can't figure out how the mistake happened!

report loosks like this:

30 day late (1)

60 day late (0)

90 day late (0)

81 month payment history........... red box with 60 day lat

Re: BARRY or someone that Knows !

MercyMe — Sat, 12 May 2007 12:37:05 GMT

Tuscani knows! Call the creditor. Inform them of the incorrect info being reported. Cite the law, if you have to:

SS 623, /responsibilities of furnishers of information to consumer reporting agencies. [15 U.S.C. ss 168s-2]

Re: BARRY or someone that Knows !

MercyMe — Sat, 12 May 2007 13:03:33 GMT

Hit tab again .... ! Sorry

US Code SS 623. Responsibilities of furnishers of information to consumer reporting agencies [15 U.S.C. ss 1681s-2]

(a) Duty of Furnishers of Information to Provide Accurate Information

(1) Prohibition

(A) Reporting information with actual knowledge of errors. A person

shall not furnish information relating to a consumer to any consumer

reporting agency if the person knows or has reasonable cause to

believe that the information is inaccurate.

(B) Reporting information after notice and confirmation of errors. A

person shall not furnish information relating to a consumer to any

consumer reporting agency if:

(i) the person has been notified by the consumer, at the address

specified by the person for such notices, that specific

information is inaccurate; and

(ii) the information is, in fact, inaccurate.

specifies to the consumer an address for notices referred to in

subparagraph (B) shall not be subject to subparagraph (A); however

nothing in subparagraph (B) shall require a person to specify such an

address.

(D) Definition. For purposes of subparagraph (A), the term "reasonable

cause to believe that the information is "inaccurate" means having

specific knowledge, other than solely allegations by the consumer,

that would cause a reasonable person to have substantial doubts about

the accuracy of the information.

(2) Duty to correct and update information. A person who

(A) regularly and in the ordinary course of business furnishes

information to one or more consumer reporting agencies

about the person's transactions or experiences with any

consumer, and

(B) has furnished to a consumer reporting agency information that

the person determines is not complete or accurate, shall promptly

notify the consumer reporting agency of that determination and

provide to the agency any corrections to that information, or any

additional information, that is necessary to make the information

provided by the person to the agency complete and accurate, and

shall not thereafter furnish to the agency any of the information

that remains not complete or accurate.

I might also add that any one who has not read the law, should.

Be well.

Re: BARRY or someone that Knows !

Anonymous — Sat, 12 May 2007 13:37:06 GMT

The creditor never responds....any other thoughts? I've tried proving no response to CRs but they don't do anything...

Re: BARRY or someone that Knows !

MercyMe — Sat, 12 May 2007 14:24:06 GMT

If I might ask you what methods have you used to contact the creditor? Have you sent registered mail, return receipt with proof of the additional late on your credit -- copy of the information being reported, to include the 81 payment history, as well as what proof you have of payments made that would invalidate a 60 day late, that is affecting your score? (Keep copies and receipts of everything you send).

Have you researched under your state's Division of Corporations to get a list of officers within this particular creditor and then called and kindly, but firmly, insisted upon speaking to one of them, as you are getting no results from the reps who take your calls? This ruffles the feathers of some, but it oftentimes gets results.

Have you pointed out to the CRA the descrepency in your file by asking (while you're on the phone with them) to pull the 81 month history to validate the existence of the descrepancy?

They won't always look at the history unless you ask -- or as so has been my experience, in fighting with a particular bank for more than two years, now, and through the CRAs, in the way of disputes, rather than going directly to the creditor, and (nicely) hounding the heck out of them until they actually researched the info they are reporting to the CRAs, and found it in error because of the 81 month history that didn't mesh with the rest of the information. There really isn't anything a CRA can do if the creditor continues to verifty incorrect information. It's always best, or so has been my experience, again, to go to the creditor, but if you can prove a descrepancy with the CRA, they will dispute with the additonal information.

Re: BARRY or someone that Knows !

Anonymous — Sat, 12 May 2007 14:37:03 GMT

Yeah. I have all of the info to provide to the creditor that would justify my claim. I have talked to the rep and was told that she didn't see anything that would justify a 60 day late on their end of the deal. So I guess that it will get handled............my biggest concern is that I can't figure out who made the mistake in the first place. Its really troubleing me !

How can my Experian report be completly correct when I get it directly from them? BUT when myfico pulls the report from Experian it has a mistake in it?

I don't know who to be upset with and its scary how this can even happen. Im just venting because Im getting prepared for a mortgage and I don't want to have anymore surprises like this.

Forgive me and thanks for the advice. I feel better Know !

Re: BARRY or someone that Knows !

Tuscani — Sat, 12 May 2007 15:20:43 GMT

I don't understand how EX says they are going to send MyFICO an updated report. That's not possible as MyFICO pulls your report from EX to generate a score. I would take this up MyFICO cust service.

Re: BARRY or someone that Knows !

Anonymous — Sat, 12 May 2007 15:31:05 GMT

Im with you Tuscani. This is weird and I keep getting sent in circles. I have spoken with all three. (myfico, experian, creditor). None of them can really explain what happened and what has to be done to fix it. Myfico understands what Im explaining to them as the rep looked at the report and said that it looks like a typo. She said that I had to take it up with the creditor or dispute it with experian.

Experian said that there is no point of disputing it because the creditor is not at fault because they have reported correctly to experian. and I agree because the same tradeline for EQ and TU from my fico is reported correctly.

The rep at Ex said that she could send over an updated report and have myfico change the info. I can't figure this one out!

Re: BARRY or someone that Knows !

Tuscani — Sat, 12 May 2007 15:35:56 GMT

jdeezy wrote:
Im with you Tuscani. This is weird and I keep getting sent in circles. I have spoken with all three. (myfico, experian, creditor). None of them can really explain what happened and what has to be done to fix it. Myfico understands what Im explaining to them as the rep looked at the report and said that it looks like a typo. She said that I had to take it up with the creditor or dispute it with experian.

Experian said that there is no point of disputing it because the creditor is not at fault because they have reported correctly to experian. and I agree because the same tradeline for EQ and TU from my fico is reported correctly.

The rep at Ex said that she could send over an updated report and have myfico change the info. I can't figure this one out!

The EX rep is clueless. MyFICO does not own or hold your reports so how does EX figure MyFICO can change anything? LOL As previously noted, All MyFICO does is calculate a score based on whats on your CRA. I can only assume MyFICO is somehow incorrectly rendering something during the calculation.. That of course is only a speculation and why I recommend calling MyFICO cust service. This is quite the conundrum. Be sure to keep us updated.

Re: BARRY or someone that Knows !

Anonymous — Sat, 12 May 2007 17:06:13 GMT

I will keep you updated . One more question Tuscani . I understand what you are saying about myfico is just the score of information that is in the reports that they pull from the CRA's.

But to me it seems that for some reason my reports with them are reading differently than the CRA's. another example is my EQ reports that I have from my fico has tradelines that are not in the closed section like they are on the reports that Im getting from Ex directly.

It just seems to me that whatever reports that we get pulled from myfico should be identical to the reports that we pull from the CRA's.

Re: BARRY or someone that Knows !

Tuscani — Sat, 12 May 2007 19:36:57 GMT

jdeezy wrote:
I will keep you updated . One more question Tuscani . I understand what you are saying about myfico is just the score of information that is in the reports that they pull from the CRA's.

But to me it seems that for some reason my reports with them are reading differently than the CRA's. another example is my EQ reports that I have from my fico has tradelines that are not in the closed section like they are on the reports that Im getting from Ex directly.

It just seems to me that whatever reports that we get pulled from myfico should be identical to the reports that we pull from the CRA's.

They should be.

Re: BARRY or someone that Knows !

MercyMe — Tue, 15 May 2007 13:27:07 GMT

jdeezy, the good people at MyFi/Credit Sync advised me to re-investigate the incorrect information being repeatedly reported and verified, asking that they provide the status codes for the information they are providing. This is supposed to resolve the issue of current activity showing up on an account that was closed and paid many years ago. I hope this helps us both.

Re: BARRY or someone that Knows !

Barry — Tue, 15 May 2007 23:08:18 GMT

jdeezy wrote:

Myfico gets its reports from the CRA"S , is that correct OR does creditors report to myfico also? I don't think that is the case, But here is my dilema...................... I have one 30 day late being reported to Ex. If I pull my Ex file directly from them, the information is being reported correctly. (I called Ex to verify that it was correct also)...............On my Ex report that I pull from myfico, the information is incorrect. The tradeline states that the account has been 30 day's late one time in the 7 yr reporting section, but in the 81 month payment history it has a red box with 60 days late instead of 30 days.

Is that mistake affecting my fico score?

Hi jdeezy –

It turns out the 60 day late referenced on your Experian report is, in fact, a myFICO formatting error in the report display. It should have indicated 30 days and has been reported to our tech team to correct.

The important thing to understand with this error and other such report display or formatting errors (vs. actual reporting errors at the bureau) is that these are purely 'cosmetic' and do not affect your FICO score. This is because FICO scores are calculated at the bureau before being sent to myFICO -- they are not calculated at myFICO or Fair Isaac.

So far we've discovered a few of these formatting errors with the new report display we launched a few weeks ago, and most, if not all, should be fixed within the next 30 days. Again, these are not issues that affect scores in any way.

I will post an update on these fixes within the next 30 days. Thanks to all of you who have brought these issues to our attention.

-Barry

Re: BARRY or someone that Knows !

smallfry — Tue, 15 May 2007 23:22:58 GMT

@Barry wrote:
@Anonymous wrote:
Myfico gets its reports from the CRA"S , is that correct OR does creditors report to myfico also? I don't think that is the case, But here is my dilema...................... I have one 30 day late being reported to Ex. If I pull my Ex file directly from them, the information is being reported correctly. (I called Ex to verify that it was correct also)...............On my Ex report that I pull from myfico, the information is incorrect. The tradeline states that the account has been 30 day's late one time in the 7 yr reporting section, but in the 81 month payment history it has a red box with 60 days late instead of 30 days.
Is that mistake affecting my fico score?
Hi jdeezy –
It turns out the 60 day late referenced on your Experian report is, in fact, a myFICO formatting error in the report display. It should have indicated 30 days and has been reported to our tech team to correct.
The important thing to understand with this error and other such report display or formatting errors (vs. actual reporting errors at the bureau) is that these are purely 'cosmetic' and do not affect your FICO score. This is because FICO scores are calculated at the bureau before being sent to myFICO -- they are not calculated at myFICO or Fair Isaac.
So far we've discovered a few of these formatting errors with the new report display we launched a few weeks ago, and most, if not all, should be fixed within the next 30 days. Again, these are not issues that affect scores in any way.
I will post an update on these fixes within the next 30 days. Thanks to all of you who have brought these issues to our attention.
-Barry

Barry will the reports that I just paid for be corrected or will I have these incorrect reports for my files? Thanks. I hope you can correct these glitches.

Re: BARRY or someone that Knows !

Barry — Tue, 15 May 2007 23:43:40 GMT

smallfry,

If the reports you just purchased have any of these kinds of myFICO report formatting errors -- not bureau reporting errors -- we can refund the purchase price for each report so you can then order updated reports at a later time. This is what we typically do in these situations. So, if you have any such errors on the reports you recently purchased, give me the specifics via a private message and I'll check it out.

-Barry

Re: BARRY or someone that Knows !

smallfry — Wed, 16 May 2007 00:09:11 GMT

@Barry wrote:
smallfry,
If the reports you just purchased have any of these kinds of myFICO report formatting errors -- not bureau reporting errors -- we can refund the purchase price for each report so you can then order updated reports at a later time. This is what we typically do in these situations. So, if you have any such errors on the reports you recently purchased, give me the specifics via a private message and I'll check it out.
-Barry

They look fine to me. The new format is very well done and the forum is quite helpful. Now about the prices... LOL.

Re: BARRY or someone that Knows !

Anonymous — Thu, 17 May 2007 02:17:35 GMT

Thanks Barry ! Sorry I haven't been on liine the past couple of days. I received a email saying that I had received a refund. I didn't know why until right now. Thats relly cool because I didn't even ask for it.

I did run into a problem because of the error ! I just went to the table for a mortgage and the 60 day late was showing.( The lender used my fico)......... Can I get a updated report sent to them? If so how should I contact?........thanks in advance

Re: BARRY or someone that Knows !

Tuscani — Thu, 17 May 2007 11:37:36 GMT

jdeezy wrote:
Thanks Barry ! Sorry I haven't been on liine the past couple of days. I received a email saying that I had received a refund. I didn't know why until right now. Thats relly cool because I didn't even ask for it.

I did run into a problem because of the error ! I just went to the table for a mortgage and the 60 day late was showing.( The lender used my fico)......... Can I get a updated report sent to them? If so how should I contact?........thanks in advance

You could ask the lender to rescore, or pull your report again and fax them a copy.

Message Edited by Tuscani on 05-17-2007 06:37 AM