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Credit Report 45 days post DC

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empressj
Frequent Contributor

Credit Report 45 days post DC

Howdy! 

 

I made a poor choice and apped with Affirm via Wayfair and was denied after providing basic info, last 4 digits of ssn and bank login info. The reason was loaan amount requested >$400 and limited credit history. Ok I'll take that. As I continued to read I came across more details:

 

SERIOUS DELINQUENCY AND PUBLIC RECORD OR COLLECTION FILED
TOO FEW ACCOUNTS CURRENTLY PAID AS AGREED
NUMBER OF ACCOUNTS WITH DELINQUENCY
PROPORTION OF LOAN BALANCES TO LOAN AMOUNTS IS TOO HIGH

 

It was my understanding this should no longer be on my CR. Am I incorrect? If so how can I dispute? I have closed the Affirm account since being denied. The representative stated that once an account is closed you can never have another. I'm ok with that bc I should've fought the temptation of Wayfair. 

 

TIA for your responses

Discharged Jan 2017
Rebuilding credit
Message 1 of 9
8 REPLIES 8
j_casteel
Valued Contributor

Re: Credit Report 45 days post DC


@empressj wrote:

Howdy! 

 

I made a poor choice and apped with Affirm via Wayfair and was denied after providing basic info, last 4 digits of ssn and bank login info. The reason was loaan amount requested >$400 and limited credit history. Ok I'll take that. As I continued to read I came across more details:

 

SERIOUS DELINQUENCY AND PUBLIC RECORD OR COLLECTION FILED
TOO FEW ACCOUNTS CURRENTLY PAID AS AGREED
NUMBER OF ACCOUNTS WITH DELINQUENCY
PROPORTION OF LOAN BALANCES TO LOAN AMOUNTS IS TOO HIGH

 

It was my understanding this should no longer be on my CR. Am I incorrect? If so how can I dispute? I have closed the Affirm account since being denied. The representative stated that once an account is closed you can never have another. I'm ok with that bc I should've fought the temptation of Wayfair. 

 

TIA for your responses


I'm not 100% certain on everything, but a BK is a serious delinquency and public record.  Too few accounts is probably because your just now rebuilding, and number of accounts with delinquency is probably generic for the items listed in the BK?? 

Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 2 of 9
Anonymous
Not applicable

Re: Credit Report 45 days post DC

Wasn't that from the denial letter?  I don't think it's  on your credit report.  The bankruptcy is a public record that stays on for 10 years.

Message 3 of 9
Anonymous
Not applicable

Re: Credit Report 45 days post DC

What is Affirm and what did you apply for?

Message 4 of 9
empressj
Frequent Contributor

Re: Credit Report 45 days post DC

Affirm provides personal loan service allowing you to make monthly payments towards item/items credited. Soft pull on credit. I applied for it via Wayfair, an online home good store who offers it. 

Discharged Jan 2017
Rebuilding credit
Message 5 of 9
empressj
Frequent Contributor

Re: Credit Report 45 days post DC

It was from denial letter but it's on my eqifax report, not on TU or Experian
Discharged Jan 2017
Rebuilding credit
Message 6 of 9
empressj
Frequent Contributor

Re: Credit Report 45 days post DC

I figured the BK info and and limited credit history would be mentioned but unsure about number of account and proportion of loan balances is too high. At this point I only have a shared saving account with NFCU with positive a history. 

 

 

 

Discharged Jan 2017
Rebuilding credit
Message 7 of 9
Scupra
Super Contributor

Re: Credit Report 45 days post DC


@empressj wrote:

Howdy! 

 

I made a poor choice and apped with Affirm via Wayfair and was denied after providing basic info, last 4 digits of ssn and bank login info. The reason was loaan amount requested >$400 and limited credit history. Ok I'll take that. As I continued to read I came across more details:

 

SERIOUS DELINQUENCY AND PUBLIC RECORD OR COLLECTION FILED
TOO FEW ACCOUNTS CURRENTLY PAID AS AGREED
NUMBER OF ACCOUNTS WITH DELINQUENCY
PROPORTION OF LOAN BALANCES TO LOAN AMOUNTS IS TOO HIGH

 

It was my understanding this should no longer be on my CR. Am I incorrect? If so how can I dispute? I have closed the Affirm account since being denied. The representative stated that once an account is closed you can never have another. I'm ok with that bc I should've fought the temptation of Wayfair. 

 

TIA for your responses


I am super confused here.. If you were denied what did you close? What is it that you think shouldn't be on your reports?

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
801 EQ FICO 06/2022
797 TU FICO 04/2022
793 EX FICO 04/2022
$30k NFCU Platinum | $30.7k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE | AMEX Gold | NFCU Platinum #2 $19.3k | Apple $8.5k
Message 8 of 9
MauiMan85297
Established Contributor

Re: Credit Report 45 days post DC


@empressj wrote:

I figured the BK info and and limited credit history would be mentioned but unsure about number of account and proportion of loan balances is too high. At this point I only have a shared saving account with NFCU with positive a history. 

 

 They are talking about that shared savings account, let's say you opened it up for $1,000 and you have payments of $60/mo until it is paid, if your present balance is more than $500 on that account is the reason for the explanation. (If it was a $500 starter and you have $250 or more-same thing). Serious delinq is the reported BK7 for 10 years.

 



 



Message 9 of 9
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