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Payment History

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Payment History

Is there anyway to get old creditors to update payment history? That’s impacting my FICO Scores...since they’re all charged off, shouldn’t the credit history be eliminated?

Current FICO 8 Scores:

Indigo (Unsecured) $300 SL
DiscoverIT (Secured) $500 Deposit
LendUp (Unsecured) $500 SL
Merrick (Unsecured) $500 SL
VS Angels Card $250 SL
Ulta Store Card $400 SL
BK Payment (appears as personal loan on CR)
AMEX Gold (Authorized User)
Fed Loan (student loan) x 2

Goal is 750s across the board!
Message 1 of 3
2 REPLIES 2
Super Contributor

Re: Payment History

GW Letters Technique by BBS, https://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/The-Saturation-Technique-Best-GW-adjustment-

 

Delinquencies remain on the credit report for seven years, so the account will show the late payment and charge off history for seven years from the original delinquency date. The original delinquency date is the date of the first missed payment that led up to the charge off status.

Once the seven year period is up, the negative information will be removed automatically.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC at 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game. Pay it Forward!
Message 2 of 3
Community Leader
Super Contributor

Re: Payment History


@Slopes wrote:
Is there anyway to get old creditors to update payment history? That’s impacting my FICO Scores...since they’re all charged off, shouldn’t the credit history be eliminated?

No. They are reporting correctly. If you were late on an account, and it was charged off prior to you filing for BK, then they have every right to report all the lates, as they are reporting correctly. They CANT however, report anything negative like lates etcc AFTER your file date. 

 

Sometimes after your BK has been DC'ed, the accts will just "fall off" your reports, especially in a no-assest BK7. The few collections I did have fell off a few months after my DC, and a few other IIB's as well. But, there were some stubborn ones that left them, and I cant do anything about it, as they are reporting correctly. 

 

Those negatives follow the DOFD rule. In my case, my DOFD was 3-5/2012, so the rest of my negatives will fall off in the next few months from my reports, leaving just my BK in the PR. 


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
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