Score went down for wrong info and when that was removed didn't go back to original - help

[Anonymous]

Hi All,

I worked very hard since claiming bankruptcy 5 years ago to get my FICO score up.  My TransUnion reached 726 in January and my Equifax 700 and I decided to go for a mortgage.  Before I went in late February - I checked my scores and they suddenly was down to 608 and 610 in one month.  I was shocked!  But they had 2 incorrect things on them and I was excited that I could get those removed and get it back up to 726/700. The wrong info was my ex-husband's credit card that was never in my name and a debt collector that had never contacted me on a debt I had not owed. 

I got both removed and when I looked at my scores (with the wrong info removed) my scores only went back up to 628/680!  I can't understand why the score that was 726 - is now the lowest with 628 - with the exact same information that three months ago made it almost 100 points higher!  I checked both reports against each other and everything is the same - except I paid down more of my dept - from owing $2000 to only owing $1000.  My credit amount didn't go down so it can't be my debt/credit ratio!

Is it possible that because it wrongly went down to 608 it could only increase a small bit in one month?  Do I have to wait for time to go by again? I feel like I am being punished because they put wrong information on the report to begin with and when it was taken off they didn't put the score back up to what it was without that wrong info.  I was ready to buy a house and now I don't want to go in with a 628 when it should be a 726!!!

Has this ever happened to anyone else?  And how do you dispute a score when there isn't an item to dispute but a number drop that doesn't make sense?  Any help would be appreciated! (and I hope this was clear)

[Anonymous]

All of these scores were purchased here on this site?

[Anonymous]

I bought from this sight in January 2008 and September 2008 both of which times were higher scores than it is now (676 and 699) - and I have lowered my debt and had more time away from my bankruptcy and etc since then.

And then I ordered the free report (once a year) from the credit companies themselves this past January and that is when I saw the 726!  Yeah! 

Then I paid here - on this site - in early March (once I decided to buy a house) and saw my scores went down over 100 points!!!!  - for the reasons previously stated in my first post. 

And again, I paid here yesterday and the incorrect information was off but now my score is only 628 for TransUnion (the one that was 726 in January).  My scores are now not even as good as they were in September 2008.  Meanwhile, I have no late payments since my bankruptcy and have paid down a majority of my debt.  I only owe $1200 with an allowable $13,500.  Back in September of 2008 I still owed $5,000.  Very confused.  I just can't believe it and don't understand what I should do to try and get my scores back up to what they were before the incorrect information was on them.

Would appreciate any advice at all.

[Anonymous]

The scores (the highest ones that you reported) that you got directly from the credit bureaus (not this website) were FAKOs, not FICOs. The FAKO scores have absolutely no bearing on your actual FICO score. You can in no way guage what your FICOs are, by using a FAKO.

So, in January & September 2008, your FICO scores ranged from 676-699. Incorrect information showed up on your credit reports, undoubtedly dropping your FICO score by some unknown number of points. You successfully disputed the bad TLs, and they were deleted. Your TU FICO score is now 628. I think that you need to compare your credit reports from January 2008, to the report from September 2008 (as oposed to September '08 to March '09). Hopefully, you've got reports directly from the credit bureaus for those months. Were there any new accounts opened between 1/08 & 9/08? Did any tradelines (good or bad) drop off? Were there any new or updated derogs? Any new inquiries? Did you pay off a loan? Do you have higher balances? Did you have an increase in utilization?

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@Anonymous wrote:

I bought from this sight in January 2008 and September 2008 both of which times were higher scores than it is now (676 and 699) - and I have lowered my debt and had more time away from my bankruptcy and etc since then.

And then I ordered the free report (once a year) from the credit companies themselves this past January and that is when I saw the 726!  Yeah! 

Then I paid here - on this site - in early March (once I decided to buy a house) and saw my scores went down over 100 points!!!!  - for the reasons previously stated in my first post. 

And again, I paid here yesterday and the incorrect information was off but now my score is only 628 for TransUnion (the one that was 726 in January).  My scores are now not even as good as they were in September 2008.  Meanwhile, I have no late payments since my bankruptcy and have paid down a majority of my debt.  I only owe $1200 with an allowable $13,500.  Back in September of 2008 I still owed $5,000.  Very confused.  I just can't believe it and don't understand what I should do to try and get my scores back up to what they were before the incorrect information was on them.

Would appreciate any advice at all.

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Message Edited by LilMirth on 03-27-2009 02:23 PM

[Anonymous]

Even if my scores were FAKOs and not FICOs - I still had FICO (bought from this sight in September 2008 that were much higher than the one's I bought recently from this site.  And I have not closed or opened any accounts.  I have not had any tadelines good or bad drop off.  I have no new or updated derogs or inquiries noted.  I have not paid off a loan just paid down my dept.  I have lower balances not higher balances with the credit amount the same.  I haven't changed a thing.  I have been deligent about working to get above 700.  I was on my way... and then the wrong info that was on my reports dropped my scores significantly (the one's I purchased from this site) and when the negative information was taken off my scores did not increase by much - and did not go back to what they were before the negative information was put on the report.  I can't understand why and it is so frustrating to me.

I wonder if FICO doesn't allow a report to go up by a certain amount in one month - and if it going down because of bogus information affected it so that I will now have to wait for time to go by to get back to where I started.  And god forbid wrong information ever ends up on it again will it again not come up.  Grrrr.... 

think that you need to compare your credit reports from January 2008, to the report from September 2008 (as oposed to September '08 to March '09). Hopefully, you've got reports directly from the credit bureaus for those months. Were there any new accounts opened between 1/08 & 9/08? Did any tradelines (good or bad) drop off? Were there any new or updated derogs? Any new inquiries? Did you pay off a loan? Do you have higher balances? Did you have an increase in utilization?

[Anonymous]

I don't believe FICO places a cap on score increases within a certain period, as I've seen people report 100+ increases because of items being removed.

You need to check the reports with your FICO scores against your new reports with FICO scores. You can not check FAKOs against FICOs.

Check every line. Dates included. Not just the status or balances.

Some don't realize how important dates can be to scoring.

So take our your September reports from this website and take out your more recent reports from this website and get a highlighter and check line by line. Every detail, no matter how minor it seems.

[Uborrow-Upay]

Check also for reported address changes, authorized user accounts added/deleted, and average age of accounts.

Each of these can be tied into a score change related to a divorce.

Carry on... 

[Anonymous]

I think I figured it out. As another month went by and my score again dropped 10 points as I continue to do nothing wrong.

A card of mine that was closed in 2004 with my bankruptcy was now listed as closed in January 2009 and now has a $270 balance - even though the amount was dismissed in bankruptcy in 2004.  I called the card company and they said they sold the account to someone else.  Well, the amount was 'forgiven' in bankruptcy so I don't understand how they could have sold it.  And I'm afraid to call the new company as I am told calling can reopen.  But I sent a letter to the credit companies and hope that in 30 days this too will be fixed.

I also have a question.  I have a hard inquiry (was on both older and newer report so didn't affect the drop in score) from a Student Loan collection agency.  The student loan is over 20 years old and I paid it but never kept the records. About 10 years ago a collection agency tried to get money on it and I got it dropped off my credit report since it was so old.  But now I am afraid to call the new collection place to get them to take the hard inquiry off my report because I have also been told that calling can reopen an old account.  Even though this bill was paid - I can't prove it.  Either way the statue of limitations has past. But I want to buy a house and I can't afford them to reopen this while I fight it.  So I won't call them.  But I wish I could get the inquiry off my report.

Since hard inquiries hurt your credit score - why are collection agencies allowed to make them on dept that is over 20 years old?  Is there any way to get that type of hard inquiry off a credit report without calling the collection agency and reopening an old account?

Thanks for any help and hope my rambling was clear.

[Anonymous]

I don't think a company can sell a debt forgiven in BK.

You might post about that over on the BK board.

As for the student loan......they are different from most other types of debts and may not be beyond SOL and may actually still be able to be reported.

How long ago was the hard inquiry? It will only affect score for 1 year.

[Anonymous]

The hard inquiry was in March - just happened.  And the debt was paid in full 20 years ago.  This is so frustrating.  I paid via money order and kept the receipts for 10 years and then shredded all that stuff.  Anyway... there is a SOL even on student loans but it was paid in full.  I went through this 10 years ago and it was taken off my credit report.  But here they are again - a new collection agency making a hard inquiry on my credit report even though I paid the debt.  But without copies of those money orders - I can't prove it.  Grrrr...  Honestly this feels like extortion.  It was only a $875 loan and it was over 20 years ago!

And I know they can't sell bk loans - but that doesn't mean they don't.  I called the cc company (myfico customer service gave me their number) and asked for them to put the closed date back to 2003 and they said they no longer owned the account and gave me the number of the company who owns it now.  They didn't say they sold it, but that was obvious.  I did a google search and saw that this is common practice and is harrassment.  I don't dare call the new company just in case it opens this up again. What I did was write a letter to the credit companies disputing the item.  But I feel like what will happen next??

Anyway - I guess there is no way to get a hard inquiry off?  Frustrating.