MY SCORE DROPPED 30 points......... HOW MUCH MORE OF THIS CAN I TAKE?

[KarimaKC]

Hello,

I am hysterical right now and am not sure of what to do.  I just received an alert from My Score Watch, and it has said that my score decreased by 30 points.  When I checked into the alerts, it shows that 7 of my Sallie Mae accounts from the past have updated (it reports as closed or paid off).  I consolidated those accounts 2 years ago, and am in grad school right now (which means that I cannot be laid, since my payments are deferred for the time being).  I have no fault or error in any way at this point, SO HOW IN THE HECK CAN MY SCORE BE SUFFERING?  How can I be lowered that many points for an update.  Again, is my affliation with Lexington Law Firm hurting me? Are they dredging up the past, and could it be hurting me in a negative way?  I saw my score increase greatly this summer with on-time payments and corrections, and in the last 3 weeks, I have taken a hit of almost 30 points....... I have not been late, no collections, NOTHING?!  How is this happening?  I feel devastated!

[Anonymous]

I am not an expert... I think the closed or paid accounts redated your credit history. Oldest account rolled off??

[KarimaKC]

No, the oldest account did not roll off.  How can I go about disputing this?  Nothing has changed with my activity in any way.... I do not think it should have decreased my score this much!  How can I even go about disputing this?!  I went from a 628 with Equifax to a 598.  This is serious!

[gamecockmd]

Not sure how clear it is but please read my somewhat lengthy post on this thread and see if it may apply to you... http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=42377

Message Edited by gamecockmd on 09-15-2007 05:14 PM

[KarimaKC]

I am confused, though.  I talked to Lexington Law firm today, and told them that my score dropped significantly.  All they told me was that sometimes there are short-term score drops while they are still doing interventions, that FICOs will fluctuate, and in the interim, to wait to see how things cycle out.  I am on the verge of telling them that I no longer seek their services, but I want to get some definite answers first before making a hasty decision.