Re: New to the site

Anonymous · ‎03-06-2020

Hello everyone, I would just like to say thanks to "myFICO" for this site. It has provided alot of great information for me. A little history, about a year ago I started focusing on my credit pretty hard. About a year ago my credit scores were: TU-596, EQ-600 and EX-610. Now my credit scores are TU-711, EQ-726 and EX-724. Me and my credit have now become married at the hip so to speak. I pay SO much attention to my scores, it's like a drug for me now. Over the past 7 months I have been able to obtain a DiscoverIT card, AMEX Gold card and USAA Visa card with really solid limits.

I've paid off all my collection accounts and now they have all been removed from my credit reports. The only real issue I have is with a very old school loan. Quick story behind that, the original school loan creditor had sold my account over to a third party, about a year ago I paid them off in full. However, the original creditor on my TU report still shows in the remarks "Collections". But it's not apart of my collection accounts as TU says 0. On my EQ and EX reports, in the remarks it says "Paid/was collections". Why does TU show different? Is it because the original creditor didn't report it correctly to TU? I tried to dispute this about 8 months ago, but it caused issues with EQ and EX and it changed the remarks to "Collections", I had to call the original crediter back. Not sure what to do about that.

Remedios · ‎03-06-2020

Hi and welcome to the forums @Anonymous

All three of CRA are referencing collections, so what happened with this loan prior to being sold and subsequently paid?

Have you reached out to the OC and asked why it's reporting as such?

Pit-Smoker · ‎03-06-2020

Welcome! and congrats on your fine work!

Sorry, I'm just a little confused about some of your concern. So... you disputed it with TU, it acted adversely upon your other bureau's reports, but it's still the same with TU?

Or did you "dispute" it by calling the creditor, and their research acted to 'reopen' the matters with ALL bureaus?

Have EQ & EX gone back to normal, as in "Collection but paid?"

Rebuilding is like smoking a brisket: it takes a lot of love, the right spice, and a ton of patience. You don't rush a brisket-- it goes low & slow. Sometimes, you need a crutch through the stall. In the end, the process matters.
2021 goals:
1) GARDEN until I app for Mortgage.
2) Pay Down overall revolving debt aggressively and accountably, to under 30%, including my HELOC.
3) Don't waste the gifted 0% time on the student loans.
4) Ultimately, refi the house at non-usury terms.

Anonymous · ‎03-06-2020

@Remedios wrote:
Hi and welcome to the forums @Anonymous

All three of CRA are referencing collections, so what happened with this loan prior to being sold and subsequently paid?

Have you reached out to the OC and asked why it's reporting as such?

I had gone in default with the OC. The sold it off, I paid the buyer of the account off. That buyer reported as paid in full was collections. However, the OC is stating that they cannot change the remarks from "Collections" to "Paid/Was collections" because at the time they sold it, that was the status of the account. So basically, the OC is refusing to do anything with the account since they no longer own it.

Anonymous · ‎03-06-2020

@Pit-Smoker wrote:
Welcome! and congrats on your fine work!

Sorry, I'm just a little confused about some of your concern. So... you disputed it with TU, it acted adversely upon your other bureau's reports, but it's still the same with TU?

Or did you "dispute" it by calling the creditor, and their research acted to 'reopen' the matters with ALL bureaus?

Have EQ & EX gone back to normal, as in "Collection but paid?"

Yes, EQ and EX are reporting it as "Paid/Was Collection", but TU still shows (in the remarks) as "Collections". But there are no collection accounts on my report.

Anonymous · ‎03-06-2020

Hi and welcome to the forums, ukfan26! Congratulations on your success so far! 👍

Remedios · ‎03-06-2020

@Anonymous wrote:
@Pit-Smoker wrote:
Welcome! and congrats on your fine work!

Sorry, I'm just a little confused about some of your concern. So... you disputed it with TU, it acted adversely upon your other bureau's reports, but it's still the same with TU?

Or did you "dispute" it by calling the creditor, and their research acted to 'reopen' the matters with ALL bureaus?

Have EQ & EX gone back to normal, as in "Collection but paid?"
Yes, EQ and EX are reporting it as "Paid/Was Collection", but TU still shows (in the remarks) as "Collections". But there are no collection accounts on my report.

You defaulted on this loan prior to it being sold.

OC cannot report about anything that happens once they no longer service that account. As long as balance is zero, the difference in wording is just semantics.

Reporting is accurate.

Same thing would happen if you had a credit card that was charged off, later sold to collections, and you paid collections.

OC would still be reporting CO, albeit with $0.00 balance because that's the last status they had while the account was still in their hands.

There is nothing to dispute here really, remarks are not scored. Whatever damage you took from this loan, happened because of default.

Let the sleeping dogs sleep.

Anonymous · ‎03-06-2020

@Remedios wrote:
@Anonymous wrote:
@Pit-Smoker wrote:
Welcome! and congrats on your fine work!

Sorry, I'm just a little confused about some of your concern. So... you disputed it with TU, it acted adversely upon your other bureau's reports, but it's still the same with TU?

Or did you "dispute" it by calling the creditor, and their research acted to 'reopen' the matters with ALL bureaus?

Have EQ & EX gone back to normal, as in "Collection but paid?"
Yes, EQ and EX are reporting it as "Paid/Was Collection", but TU still shows (in the remarks) as "Collections". But there are no collection accounts on my report.

You defaulted on this loan prior to it being sold.
OC cannot report about anything that happens once they no longer service that account. As long as balance is zero, the difference in wording is just semantics.
Reporting is accurate.
Same thing would happen if you had a credit card that was charged off, later sold to collections, and you paid collections.
OC would still be reporting CO, albeit with $0.00 balance because that's the last status they had while the account was still in their hands.

There is nothing to dispute here really, remarks are not scored. Whatever damage you took from this loan, happened because of default.
Let the sleeping dogs sleep.