Need help understanding what’s reporting negative on my credit bureau...

[Anonymous]

I’ll try to simplify this as much as possible lol

I had 4 accounts that were charged off and sold to a collection agency, and two credit cards (target and capital one) that remained with the creditor, but were charged off as bad debt.
I paid three out of the four collection accounts, and they reflect a $0 balance and are now closed. I still have the one that is open with a $320 which I am actually currently disputing. I still have the closed cc’s with balances as well.

My question. On credit karma it shows that I only have 1 derogatory (the unpaid opened collection) but the other negatives still show up on my report?? I go onto credit wise and it says I have 6 negatives. Then I go onto Experian a app (I pay a monthly fee for my actual credit scores) and it says all of my collections are closed, but still show up.

I’m so confused. Do I have 1 derogatory? Do I have six??? If I were to go apply to a loan or a credit card, what would show up???

I’m new to this so any help is much appreciated!

[RobertEG]

Your apparent issue is the difference between a currently derogatory account and an account with derogs.

Acounts with a creditor have both a current status and a payment history profile that record derogs.

When a previously delinquent account is paid, its new, current status is no longer one of current delinquency, as it is updated to Paid or Settled.

However, the payment history profile records and retains prior monthly status, and prior delinquencies are still shown, effect scoring, and make the account "derogatory" until the prior derogs are excluded or deleted.

Collections, regardless of whether Open or Close, Paid or Unpaid, are always derogs in scoring.

While the debt is no longer delinquent once paid, they are still derogs.

[BungalowMo]

All your cards are considered baddies....and the Collection Agency accounts are also bad, but in a different category.

I would NOT suggest applying for anything right now.  It sounds like you have all negative TradeLines. (Not giving you a hard time...I started my repair journey in 2002 with 1 good & 13 bad).

I would bite the bullet & buy all 3 here & print them out.  I personally like buying them separately & not the 3-in-1 so I can lay them out side by side & check against each other & see how different accounts are reporting.

Work on repair before trying to rebuild.

[Anonymous]

Thank you so much for the replies. I do have a Quicksilver and Quicksilver One with Capital One and a Credit One card as well as a US Bank secures and a Victoria’s Secret card all in good standing. I am also an authorized user on my mothers gas credit card which she has had open and in good standing for 30 years, and this reports on my bureau. I’m not planning on applying for anything for a while until my scores raise a bit. I’m currently sitting at 600 with transunion, 597 with Experian and 584 with equifax.

It’s pretty much a waiting game now till my baddies fall off right? Besides garden for a while and grow my score a little that way?