topic Re: $60 is ruining the score: please help! in General Credit Topics

$60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 18:15:42 GMT

Dear LadyScarlet and other forum gurus,

I have a collection of $60 (only shows on Equifax report), which was a med. bill "leftover" from 2003 and I paid it in full immediately after I learned I had it (end of 2003). I was assured by the Med. Associates (The Creditor) that it will not appear on my credit report. It sure did... it says it was reported to Equifax in 2004.

Then I called the Creditor again and I was sent to CA for resolution. CA said there is nothing they can do for me. My only option is to wait 10 years until it goes away...

Should I try to send a GW letter? If yes, who should I address it to: the CA or the Creditor? Should I mention that it only shows on Equifax? I've never done this before and I'm about to apply for a mortgage: please help!

I appreciate any suggestions.

Thanks in advance...

PS: Never missed a payment in my life, but FICA score is 660 now... all because I didn't get that stupid last med bill!

Re: $60 is ruining the score: please help!

My_dog_FICO — Fri, 30 Nov 2007 18:18:24 GMT

If the CA says that it should not be reported, then you should be able to DV the CRA. When they do their validation, the CA shouldn't respond and therefor it will drop from your CRA. If the CRA says it's validated, send an MOV, then contact whomever they reply with to see if they can help.

Message Edited by FAKO_Junkie on 11-30-2007 01:18 PM

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 19:56:27 GMT

FAKO_Junkie wrote:
If the CA says that it should not be reported, then you should be able to DV the CRA. When they do their validation, the CA shouldn't respond and therefor it will drop from your CRA. If the CRA says it's validated, send an MOV, then contact whomever they reply with to see if they can help.

Message Edited by FAKO_Junkie on 11-30-2007 01:18 PM

Thanks for reply!

Actually I called CA some time ago begging to remove this record from CRA. They refused and kicked me back to the Creditor. The Creditor said that they don't have any records of me paying those $60 because it was paid to CA and also that they don't own this account anymore therefore I need to contact CA for removal request.

I think since I already "validated" this account with CA, they ARE LIKELY to respond to CRA validation request. MOV might not work since the payment was made to CA (either I was dumb to pay CA and not the Creditor or the Creditor forwarded my payment to CA).

THANKS!!!

Message Edited by jenya on 11-30-2007 11:49 AM

Message Edited by jenya on 11-30-2007 11:56 AM

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 20:34:26 GMT

Does anybody have any ideas on how I should proceed?

Thank you in advance!

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 20:49:53 GMT

That single collection is probably not having as much effect on your score as you think.

How many GOOD accounts do you have? Revolving accounts used but in good standing?

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 20:59:11 GMT

Well, this collection only shows on my Equifax report. My Equifax score is 660.

For comparison, my TU and EX scores are around 746.

All the other information is the same in all 3 agencies. I think this difference is insane for a $60 bill.

(As of Nov 29 2007)

Total number of:
Accounts 10
Accounts with balances 4
Accounts opened in past year 1
Recent inquiries 3 (btw, I have not appoved any of these...)
Collections 1
Public Records 0

Message Edited by jenya on 11-30-2007 12:59 PM

Re: $60 is ruining the score: please help!

MidnightVoice — Fri, 30 Nov 2007 21:00:24 GMT

jenya wrote:
Well, this collection only shows on my Equifax report. My Equifax score is 660.
For comparison, my TU and EX scores are around 746.

All the other information is the same in all 3 agencies. I think this difference is insane for a $60 bill.

Ok, so I have a 6.75 year old collection ($150, paid as soon as I knew it was in collection), and the effect for me is 90 points

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=10746&view=by_date_ascending&page=1

MidnightVoice wrote:

I tend to treat my CRs and DWs CRs as one big report, as they broadly similar (nearly everything on our reports and in our life is joint).

There is only one baddie on any of our reports - a six and a half year old collection (that shouln't be there, but the OC has no record of why it went on - long, long story). It is on 3 of the 6 reports.

Average score of the reports it is on - 705

Average score of the reports it is off - 797

Just thought I would let you all know.

Message Edited by MidnightVoice on 11-30-2007 03:00 PM

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 21:19:49 GMT

I am not really sure if you have read any of my other posts but I was in a pretty similar situation.

I had $58 collection and it was definitely affecting my scores.

I would say start with a dispute with EQ (as inaccurate). If it is that old and paid the CA might not respond and will get removed that way.

If that doesn't work then I would say continue to call the OC and get them to help you out--that worked for me. I have not had good experiences dealing with a CA, go to the OC first. If that doesn't work then vise versa.

I feel your pain. I just had my $58 collection removed today!

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 21:21:25 GMT

One more thing when you call back, do not let them transfere you to collections. Tell them you already spoke to them and they couldn't help you. Ask them to transfere you to a manager, not collections.

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 22:38:49 GMT

jaybee wrote:
One more thing when you call back, do not let them transfere you to collections. Tell them you already spoke to them and they couldn't help you. Ask them to transfere you to a manager, not collections.

I tried both. They point fingers at each other. CA doesn't even want to speak to me and OC tells me that it's not their account and they don't even know if it's paid. BTW, OC refused to transfer me to anyone higher saying that there is ABSOLUTELY nothing they can do for me and that I need to call CA.

I'm not sure, but MAYBE writing will help? Anybody tried writing them? GW letter perhabs? Or you still suggest I claim to CRA that it's not mine?

Please share your experiences! Are there any consumer organizations I can contact about this who might help? Thanks!

Re: $60 is ruining the score: please help!

MidnightVoice — Fri, 30 Nov 2007 22:45:12 GMT

With mine, I have talked to the CA, who say from their end it is legit, and to the OC who have no records going back that far.

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 22:46:09 GMT

when does it drop?

Re: $60 is ruining the score: please help!

MidnightVoice — Fri, 30 Nov 2007 22:48:07 GMT

Mine drops in April 08, which is why I am not bothered - that and the fact my other two scores are high enough to get what I want. At the moment all this collection is doing is preventing me joining the Amex club

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 22:57:00 GMT

jenya

I would say dispute as inaccurate. I called ATT maybe like 20 times literally until I talked to someone that was willing to help.

I am not saying that writing would not work, try it. Nothing ventured, nothing gained!

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 23:01:35 GMT

Mine is from 2003, so God know when it drops... and I'm about to buy a house...

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 23:07:17 GMT

My OC is a small organization (Sussex Emerg. Assoc.), I think they might only have one or two people handling all this stuff. She sounded like I was asking her to send me to the moon and definitely didn't want to transfer me anywhere higher. When I asked her to give me their mailing address and a name to whom I can address my request, she didn't give me that either.

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 23:07:55 GMT

03'? It should have lost some of its steam by now. The mortage company shouldn't have a problem with it, especially since it is paid. My collection was this year!

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 23:12:03 GMT

jaybee wrote:
03'? It should have lost some of its steam by now. The mortage company shouldn't have a problem with it, especially since it is paid. My collection was this year!

No, they won't have a problem with it: they will only give me a rate of 12% - that's all! In fact: they'll LOVE it!

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 23:13:24 GMT

Lady_Scarlett, how do you know when your collection drops?

Re: $60 is ruining the score: please help!

Anonymous — Fri, 30 Nov 2007 23:37:36 GMT

IF you have priginals from the bureaus - look for it by the account. I think EX (without looking at my reports) is the clearest.