topic Re: Yikes! My TransUnion score dropped 36 points in Rebuilding Your Credit

Yikes! My TransUnion score dropped 36 points

Anonymous — Tue, 12 Sep 2017 14:16:16 GMT

Hey guys,

I hired White Jacobs to help me with my credit. When I started, my TransUnion score was about 500 (I know, horrible). Anyways, over the last few months my score has been going up and I was at about 518 as of yesterday.

This morning I log into CreditKarma and notice my TransUnion score has fallen to 482. This makes no sense because I've been very on top of my credit since I started to rebuild.

Anyways, I looked through my emails and saw an email from CreditKarma that said I missed a payment for a credit card that was closed back in 2012 - I don't know why this is reporting as missed when it's clearly closed. I'm afraid White Jacobs might have awoken a sleeping giant.

The other two agencies aren't showing this drop, in fact my Experian score is almost at 600!

Any thoughts or suggestions?

Re: Yikes! My TransUnion score dropped 36 points

Anonymous — Tue, 12 Sep 2017 17:56:04 GMT

Is it saying that there was a missed payment *after* it was closed or is it reporting that there was a missed payment while it was open that just hasn't been included in the report until now?

Creditors are able to report on any information for up to 7 years after it happens regardless of whether the account is open or not. Might be worth trying a goodwill letter.

Re: Yikes! My TransUnion score dropped 36 points

haleyjen — Tue, 12 Sep 2017 19:59:54 GMT

Also, check your actual FICO score - Credit Karma uses useless vantage scores.

Re: Yikes! My TransUnion score dropped 36 points

Anonymous — Wed, 13 Sep 2017 13:34:41 GMT

@Anonymous wrote:
Is it saying that there was a missed payment *after* it was closed or is it reporting that there was a missed payment while it was open that just hasn't been included in the report until now?

Creditors are able to report on any information for up to 7 years after it happens regardless of whether the account is open or not. Might be worth trying a goodwill letter.

That part is not clear - when I log into Credit Karma I don't even see where the missed payment is located, I just see my score dropping by 36 points with no real indication of what happened other than the email I got.

Re: Yikes! My TransUnion score dropped 36 points

Anonymous — Wed, 13 Sep 2017 13:47:15 GMT

@Anonymous wrote:
@Anonymous wrote:
Is it saying that there was a missed payment *after* it was closed or is it reporting that there was a missed payment while it was open that just hasn't been included in the report until now?

Creditors are able to report on any information for up to 7 years after it happens regardless of whether the account is open or not. Might be worth trying a goodwill letter.
That part is not clear - when I log into Credit Karma I don't even see where the missed payment is located, I just see my score dropping by 36 points with no real indication of what happened other than the email I got.

Most likely what happened was the account had a late on it already, and White's activity caused them to update the report, even though nothing had changed, other than the report date. That makes any derog account look "fresh". Go to Credit Check Total and get your actual FICO scores.

Re: Yikes! My TransUnion score dropped 36 points

Anonymous — Wed, 13 Sep 2017 20:13:18 GMT

Okay guys,

So it looks like my account was closed on April 2012, up until now the credit card company was not reporting anything additional to my credit since it had been closed.

but I guess since White Jacob's started to poke around, they went and updated everything from May 2012 - August 2017 with a "Failed to Pay" status, which is crazy because my account was closed in April 2012 so I don't understand how they could claim I am failing to pay when the account isn't even open anymore.

Here's a screenshot of the activity: [IMG]http://i65.tinypic.com/2ch8a4j.jpg[/IMG]

This has caused my credit score to sink! It's only being reported by TransUnion by the way.

Any idea what the deal is?

Re: Yikes! My TransUnion score dropped 36 points

Anonymous — Wed, 13 Sep 2017 20:18:41 GMT

They could update all three bureaus.

Re: Yikes! My TransUnion score dropped 36 points

Anonymous — Wed, 13 Sep 2017 20:18:52 GMT

Re: Yikes! My TransUnion score dropped 36 points

Anonymous — Wed, 13 Sep 2017 21:42:10 GMT

@Anonymous wrote:
Okay guys,

So it looks like my account was closed on April 2012, up until now the credit card company was not reporting anything additional to my credit since it had been closed.

but I guess since White Jacob's started to poke around, they went and updated everything from May 2012 - August 2017 with a "Failed to Pay" status, which is crazy because my account was closed in April 2012 so I don't understand how they could claim I am failing to pay when the account isn't even open anymore.

Here's a screenshot of the activity: [IMG]http://i65.tinypic.com/2ch8a4j.jpg[/IMG]

This has caused my credit score to sink! It's only being reported by TransUnion by the way.

Any idea what the deal is?

I'm assuming there was no balance when it was closed? Who was the account with?

They are also reporting a 30, 60, 90 and 120 day late. I would get on the phone with them (the lender) and straighten it out ASAP.

Re: Yikes! My TransUnion score dropped 36 points

Anonymous — Thu, 14 Sep 2017 13:52:03 GMT

@Anonymous wrote:
@Anonymous wrote:
Okay guys,

So it looks like my account was closed on April 2012, up until now the credit card company was not reporting anything additional to my credit since it had been closed.

but I guess since White Jacob's started to poke around, they went and updated everything from May 2012 - August 2017 with a "Failed to Pay" status, which is crazy because my account was closed in April 2012 so I don't understand how they could claim I am failing to pay when the account isn't even open anymore.

Here's a screenshot of the activity: [IMG]http://i65.tinypic.com/2ch8a4j.jpg[/IMG]

This has caused my credit score to sink! It's only being reported by TransUnion by the way.

Any idea what the deal is?
I'm assuming there was no balance when it was closed? Who was the account with?
They are also reporting a 30, 60, 90 and 120 day late. I would get on the phone with them (the lender) and straighten it out ASAP.

There was a balance - which is the unfortunate part. I just don't know how they are saying I failed to pay when the account has been closed and sent to collections a long time ago.

Re: Yikes! My TransUnion score dropped 36 points

Anonymous — Thu, 14 Sep 2017 13:59:55 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Okay guys,

So it looks like my account was closed on April 2012, up until now the credit card company was not reporting anything additional to my credit since it had been closed.

but I guess since White Jacob's started to poke around, they went and updated everything from May 2012 - August 2017 with a "Failed to Pay" status, which is crazy because my account was closed in April 2012 so I don't understand how they could claim I am failing to pay when the account isn't even open anymore.

Here's a screenshot of the activity: [IMG]http://i65.tinypic.com/2ch8a4j.jpg[/IMG]

This has caused my credit score to sink! It's only being reported by TransUnion by the way.

Any idea what the deal is?
I'm assuming there was no balance when it was closed? Who was the account with?
They are also reporting a 30, 60, 90 and 120 day late. I would get on the phone with them (the lender) and straighten it out ASAP.
There was a balance - which is the unfortunate part. I just don't know how they are saying I failed to pay when the account has been closed and sent to collections a long time ago.

Uhh... Wait. What? That is the very definition of "failed to pay". "Closed" simply means you are no nonger allowed to use use it, that does not mean they are not entitled to collect on it.

Re: Yikes! My TransUnion score dropped 36 points

Anonymous — Thu, 14 Sep 2017 15:24:01 GMT

Understandable - so what are my options? They offered a one-time payment of 25% of the total, which is still too high and won't remove any late payments, and it would reset the 7 year time. At this point, is it best to just let this fall off my credit in two more years?

Re: Yikes! My TransUnion score dropped 36 points

Anonymous — Thu, 14 Sep 2017 17:02:45 GMT

Nothing resets the 7 years.

Negotiate a PFD or let it fall off