Credit card account in good standing deleted from file

[Anonymous]

Hi,

I received 2 credit reports from myfico within 1 week period and discovered that old credit card account opened in 2001 and closed in 2003 which was always paid on time was deleted from my files and caused score to drop 15 points.I called TransUnion and they can see that account existed and than was deleted but cannot or don't want to restore it (company policy).They told me I have to call original creditor.I did and they cannot find my account.We are in process of buying new home and with loosing 15 points lender told us we no longer qualify.Please let me know if anybody has good advice.  Thanks.

[Anonymous]

This is a painful area of credit and scoring that no one in the industry wants to really discuss.

In theory, old TLs should remain forever, but there is absolutely no law to help one out and one is totally at the mercy of the CRAs.

There is no law prohibiting the reporting of a positive TL forever, and some like to repeat the industry claim that positive TLs stay for 10 years. But, there's also no law that says a TL has to remain at all for ANY period of time.

You could PIF a car loan, the OC could report the final payment showing the account PIF, and the next day the CRAs could delete it from your CRs and there ain't a danged thing you can do about it.

Reporting at all is in and of itself voluntary. An OC could do a hard INQ for a car loan, CC, home loan or whatever, and then NEVER report at all.

Sucks, don't it?

[haulingthescoreup]

Are there ANY laws at all that effectively protect consumers??? I mean, geeze...

[Anonymous]

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haulingthescoreup wrote:
Are there ANY laws at all that effectively protect consumers??? I mean, geeze...

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FCRA and FDCPA do, to a degree. Best I can offer is that, well, things ain't as bad as they used to be. Horror stories I've read from the 70s and 80s. I know that's not a lot of comfort.

[Anonymous]

I really thought there was laws protecting consumers in relation to credit reporting such as the above examples.

Shows how much I know.

[Anonymous]

FCRA and FDCPA are sorta like the U.S. Constitution. Whole lot of thou shall nots only.