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I think I have a Baddie reporting as a Goodie-wwyd?

GApeachy
Super Contributor

I think I have a Baddie reporting as a Goodie-wwyd?

*This is a CO reporting positively*

I don't know if this is "code" to issuers pulling credit or not?  Let me explain....

In 2011 we succumbed to our debt load and got a CO on a CC (EQ last report date 2017, in my signature)  I was an AU on that card. 

 

1. The CC open date is a few days off compared to my DH. 

2. The high limit is off by a few dollars as well but the cl is the same. 

3. CC has "open" reporting/reported to two of the bureaus, my highest two Ficos mind you. (EQ & Trans)

4. CC reports $0 balance but has a scheduled pymt of $299 listed and still open "good standing". 

5. No other open/closed acct. shows a "scheduled" pymt.

 

 Any thoughts?  Am I a lucky girl, utl/aaoa benefit or.... a ghost "red flag" ?

 

CC- $0 balance/scheduled pymt $299, last activity 4/2011, last reported 2017?

 

EDIT to add:  It was derog on dh report and has since "fallen off".

"My Take Home Pay Don't Take Me Home"
Message 1 of 6
5 REPLIES 5
kilroy8
Super Contributor

Re: I think I have a Baddie reporting as a Goodie-wwyd?

I would just ride it as long as it stays in a good status. Only thing that might bite you is that the 299 payment will add to your DTI in some models.

Message 2 of 6
GApeachy
Super Contributor

Re: I think I have a Baddie reporting as a Goodie-wwyd?

@kilroy8 Didn't think of that, thanks!
"My Take Home Pay Don't Take Me Home"
Message 3 of 6
XtraCredit
Established Contributor

Re: I think I have a Baddie reporting as a Goodie-wwyd?

Pay it while it's still positively reporting.
Starting Score: EX 641 TU 631 EQ 669
Current Score: EX 714 TU 718 EQ 713 (EQ9 735)
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Message 4 of 6
RobertEG
Legendary Contributor

Re: I think I have a Baddie reporting as a Goodie-wwyd?

I assume that the debt remains unpaid?

If so, the current status should still be one of delinquency, such as either 180+ late or CO, even if the prior payment history profile has now been excluded of all derogs.

 

Thus, the account should not, if it remains unpaid and still reporting, be absent any adverse information.

Continued delinquency status, not mentioned in the post, is an adverse item of information that prevents the account from being considered as being in "good standing."

 

What is the current status of the account?

If it still shows a delinquency status, then the showing of that adverse information in your credit report after 7 years is a violation of FCRA 605(a)(5).

If the debt remains unpaid and the current status shows paid, that is inaccurate.

 

Due to the fact than an unpaid current status is clearly an adverse item of information, and that FCRA 606(a)(5) prevents a CRA from continuing to show "any other adverse item of information" in your credit file in any credit report they issue after 7 years from the occurence of the adverse item, continued showing of current delinquency status cannot occur after 7 years from the date of initial delinquency.

It is for that reason that the CRAs will exclude any delinquent account (and no just the derogs) once the account delinquency period reaches 7 years from date of initial delinquency.  See that policy statement on, for example, the EXP web page.

 

In summary, you either have inaccurate reporting of the current status, or improper inclusion of an adverse showing of delinquency in your report after the 7 year exclusion period mandated under FCRA 605(a)(5).

 

If it is the former (i.e., the account is showing a non-delinquency current status), you might choose not to dispute that inaccuracy unless you wish the entire account excluded, as a dispute will likely lead to removal of the entire account.

Message 5 of 6
GApeachy
Super Contributor

Re: I think I have a Baddie reporting as a Goodie-wwyd?

 
"My Take Home Pay Don't Take Me Home"
Message 6 of 6
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