Can someone PLEASE explain what happened????

[Anonymous]

About a month ago I sent a goodwill letter to Capital One Auto Finance asking them to remove 3 30-day late notations. Today, I got a notice that my score had dropped 9 points due to the changes below - from 662 to 653. Could someone please explain what happened? CAPITAL ONE AUTO FINANCE Show/Hide Details Account opened: 8/2002 Description: Not on Record Previously reported Newly reported Balance: $2,053 $916 Past due: $0 Not on Record Status: Pays account as agreed Pays account as agreed Last activity: 5/1/2007 8/1/2007 Description: Auto loan Not on Record Contact: CAPITAL ONE AUTO FINANCE, 3905 Dallas Pkwy, Credit Disputes, Plano, TX, 750937892

[Tavares]

dooodooo,

Its kind of hard to tell what happened here. But, here is my experinece:  I requested a late payment deleted and it was not granted.  The account was already closed for 3 years and all they adjusted on my report was the was the note on the account from: "Paid in collection" to "Paid in full"  one would expect a positive change there on the score. Guess what? Dropped 7 Points.  Nothing else changed on my report, I called TU and they told me its because the date of last activity was updated.  Beat me.

I basicaly learned to not touch some old accounts if they are not affecting too much of my score.  But, I was after the perfect report

Hopefully someone else will share their story also to help us out.

Good Luck,

Joao

[Anonymous]

DooDoo I was looking into getting some derog stuff removed from my reports but decided against it.  The FICO formula is too complex.  There are so many tiers.  Mayb your scores were based on people who hadpaid late in the past. Once you got those derogs removed, you started being compared to people wo had never been late.

[MeganML84]

Why is it that we can figure out PI to like 3 million characters (guess-timate) but no one on earth seems to know what the FICO formula is?? Hahaha....

[Anonymous]

I will assume this was NOT the only account with a negative status.


Getting accounts of a negative status toooooo "pays as agreed" has made a huge difference to me...

[Anonymous]

That's what I'm kinda afraid will happen to me. Some of the stuff on my reports are derog but old. If I try to clean up too much, my scores might go down.

[Anonymous]

Think about it like this.  the layes are now removed and though you saw a temporary decrease in your score, time heals all wounds.  Now you cannot b declined for prior lates.

[Tavares]

I pretty much did what Brammy is suggesting here.  Many banks where using it against me. My Points went down, but they could no longer user the lates or the CO againt me.

Good Luck,

Joao