Help, accounts are now shown as CLOSED

[mannmiller]

Oh my DH cc accounts.  He is in a debt management program, and even though there still is a balance on two of his accounts, and yet they are shown as closed.  Can they do this prematurely!??

It dropped his TU score by about 45 points, (from 680 to about 635) right now when we are ready to have his credit scores pulled by our mortgage company.  (timing is horrible!)

Can we insist they change this to open at least until the account is paid in full, or should they just change it to inactive, or don't we have any recourse.

I swear these companies know whats going on in our lives!!!!

[ngerasimatos]

You can have a balance on closed accounts. Did the debt management group actually close the accounts?

[mannmiller]

I am not sure who started the process!  TU did this but Experian and Equifax didn't!

What do you think?

[Anonymous]

The UTL is still taken into account on a "Closed"account as long as a CL is still present-

You may need to ask the mortgage guy to use the 04 version of the TU FICO.

Look at his new "Understanding your scores" - see if he in now getting hit for "Accounts with balances" - as having more than 50% of OPEN non-mortage accounts with a balance will ding you-

also look at his CL's and see if they have changed-

[mannmiller]

Thank you Timothy!

I looked at the report again, it appears they changed the accounts from being open to derogatory and closed.  His UTI is 32%.  He has made all payments on time in the last year and has no public records or collections whatsover.

So the TU FIco 04 will correct this or help out his score?  How does it do that?

I just don't understand why all of a sudden they changed them to closed in TU and not the others.  It really did make a dent in his score and took his score from a very decent interest rate to a horrible one!