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How can I change the status " 30 days past due " for " paid as agreed" . The account was paid off 4 month ago and still appear as " 30 days past due "
When you pull your report from the CRA, and see the full 7-yr history, is there a 30 day reported in there somewhere? If so, then the removal of the 30 day would change the status and/or worst delinquency.
means that I have to wait 7 years?
No...no. Look at your report as pulled directly from the CRA. You will see a 7-yr history. Is there a late anywhere within that history? If you haven't pulled your full report, be sure to do so from annualcreditreport.com. Also, looking at your myFICO report, is there a late listed within the history?
Yes, baddies remain for 7 yrs, but with some effort, you can get the creditor to remove the lates early.
If you had a 30-day late, the OC will report this to the CRA under two separate field codes in your CR.
First, they report it to your "payment history profile," field code 18. This is a "sticky" code, meaning that when reported again next month, the prior month reporting is retained. Next month's reporting will add a new additional to this code, whch could be a 60-day late, or paid, for example. And so on and so on, month after month. That builds a retained payment history.
Second, they also report current account status under field code 17. That is not a "sticky" code. It does not revise your payment history. It just reports the current status. Subsequent updates to your account status code override the prior status code. So when you first have a 30-day late, they will report current status of 30-days past due. If you then paid it the next month, they will update the current status to paid in full.
Thus, current status is not a proper indication of the prior occurance of a 30-day late, and thus the scoring of your credit report.
Yes, they should have updated the current status code to paid, but I dont think this has any real impact on your credit scoring.
To remove the effect of the 30-day late, you would have to get the OC to revise their reporting of your payment history profile by way of a GW request.
I dont think that focus on current account status is the key factor on your scoring.
Are you saying this account has a zero balance and the current account status is 30 days late? If so contact the creditor or creditor bureaus and dispute it.
It should apparently show, in "account history", a prior 30-day late, and in "current account status", either paid and closed, or paid and still open, whichever may be the case. It is not the current account status that continues to retain the prior 30-day late once the account is brought back to paid status.
Yes, the current account status apparently needs to be update by the OC.