topic Re: Acct status changed score drop 50 points in Rebuilding Your Credit

Acct status changed score drop 50 points

Anonymous — Sat, 10 Apr 2010 20:47:58 GMT

Sent a GW letter to CMI on an old unpaid account. They validated and then updated the status at Experian.The status says collection as of Feb 2010, Sep 2005. Score dropped from 642 to 585. Any thought on a connection between the the update of the status and the drop in score? No other lates on any accounts or new activity reported.

Thanks,

Before MyFico

EQ - 647

EX - 585

TRU - 645

4 monyhs later

EQ - 697

EX - 602

TRU - 698

Re: Acct status changed score drop 50 points

Anonymous — Sun, 11 Apr 2010 01:34:26 GMT

@Anonymous wrote:
Sent a GW letter to CMI on an old unpaid account. They validated and then updated the status at Experian.The status says collection as of Feb 2010, Sep 2005. Score dropped from 642 to 585. Any thought on a connection between the the update of the status and the drop in score? No other lates on any accounts or new activity reported.

Thanks,

Before MyFico
EQ - 647
EX - 585
TRU - 645

4 monyhs later
EQ - 697
EX - 602
TRU - 698

It happens all the time. When an account has been dormant for a while and they update it makes it look current and will drop your score.

Re: Acct status changed score drop 50 points

Anonymous — Sun, 11 Apr 2010 01:36:42 GMT

Thanks. How can I get this corrected? I tried disputing the status.

Re: Acct status changed score drop 50 points

Anonymous — Sun, 11 Apr 2010 01:40:04 GMT

You can't. No violation has been committed. It is just the way the system works.

You had an account that has had no activity for years, you send them a letter and they update your account. It posted a new date as the status date so FICO looks at it as a new collections.

Re: Acct status changed score drop 50 points

LIGHTNIN — Sun, 11 Apr 2010 02:07:31 GMT

Are those FICO scores? Just wondering where you are getting the Experian FICO score?

Maybe you live in PA.

Re: Acct status changed score drop 50 points

Anonymous — Sun, 11 Apr 2010 02:13:50 GMT

No. The scores are whatever the CRA provides. It's all I have to go on.

Re: Acct status changed score drop 50 points

LIGHTNIN — Sun, 11 Apr 2010 02:28:41 GMT

Your FICO score maybe higher or lower then those score. Just in case you are interested myFICO does offer a discount every now and then.

When they do it's at the end of the month, the last 2 weeks, from what I've noticed. So if you want to save a little money on the discount, just

google "myfico discount code" and use the code when you order. Just thought I'd let you know, in case you did know.

Re: Acct status changed score drop 50 points

llecs — Sun, 11 Apr 2010 13:49:02 GMT

And if you pulled EQ directly from Equifax.com, then you do have an actual FICO score and you'd only have to worry about TU. Ignore the EX score as it isn't a FICO score and you can't self-pull your EX FICO score from anywhere anyway. Your actual FICO may have stayed the same.