topic Re: need help with how to tackle this one in Rebuilding Your Credit

need help with how to tackle this one

Anonymous — Tue, 05 Jan 2010 18:26:48 GMT

Verizon Sw

Status as of [?] Sep, 2008

Date opened [?] Jul, 2003

Date of last activity [?] Sep, 2008

Date paid out [?] Sep, 2008

Date closed [?] Jun, 2008

Account number [?]

Loan type [?] Utility Company

Credit limit [?] Not Reported

Largest past balance [?] $0

Terms [?] Not Reported

Account Type [?] Open Account

Account holder [?] Individual Account

Scheduled payment amount [?] Not Reported

Descriptions [?]

Account closed by consumer

I'd like to dispute this account as I have no idea what it is. It's not showing up as a collection but an actual account. Should I send a letter directly to them asking them to verify the account legitimate or send a letter to the CRA's? What confuses me is that it's showing up as an open account but a closed account and a zero balance. Why is this? TU and Exp are reporting it. ..TU reporting as Verizon and Exp reporting it as GTE.

Re: need help with how to tackle this one

llecs — Tue, 05 Jan 2010 18:40:58 GMT

OP, you got this info from your FICO report. Looking at the Accounts page in your myFICO report, is there a red flag next to this TL?

Re: need help with how to tackle this one

Anonymous — Tue, 05 Jan 2010 18:54:07 GMT

There is an orange flag and when I hover over it, it states there had been late payments in the past.

Re: need help with how to tackle this one

llecs — Tue, 05 Jan 2010 19:08:46 GMT

In the world of mergers, it sounds like Verizon ended up with this account. Did you ever have telephone service that ended up unpaid, specifically around summer of 2008?

Open account refers to the account type. It isn't a collection agency, so it can't appear in Collections. FICO should be scoring it as a CO (paid or unpaid, it doesn't matter per your score). Under a manual review by a lender, they will see it as a paid CO. If you never paid Verizon, GTE, or any number of companies that could have owned it previously, then it is possible they sold the debt to a CA, who may or may not report.

If you want it off, and you probably do, try sending Verizon a Goodwill letter (GW) asking them to delete. If indeed you paid it, then include that in the letter. Usually Verizon will report quite nastily by saying comments like "charge-off" or "collection".

Re: need help with how to tackle this one

Anonymous — Tue, 05 Jan 2010 19:18:54 GMT

I did move at that time but was never in receipt of any type of bill showing a balance but can't remember specifically what phone company it was. The only thing I can think is that logically in the move I never got a final bill or any notices from them. I guess that's my error in not following up and trusting mail forwarding. I guess my shot from here is to do a GW like you said and see if they will work with me. Thanks.