Trying to get a mortgage and my score went down!!!

[Anonymous]

I made the mistake of paying a $50 parking ticket that was on my report. The company said they automatically delete it after payment. Yea right. I called They told me to just dispute it and it will come off.  I hope it does. My experian. Is 612 and Transunion is 669. Why such a big discrepancy??? I have 2 late payments that are 11 months old. months month will it not count as much. I need 28 points by next month. I have one credit card with a 300 dollar limit  and a 0 balance. I am 1500 away from 50 percent below my original balance on my car. Will getting this below 50 percent boost my score a little. I really hope they remove that collection.  Anyone have any ideas????

[llecs]

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@Anonymous wrote:

I made the mistake of paying a $50 parking ticket that was on my report. The company said they automatically delete it after payment. Yea right. I called They told me to just dispute it and it will come off.  I hope it does. My experian. Is 612 and Transunion is 669. Why such a big discrepancy??? I have 2 late payments that are 11 months old. months month will it not count as much. I need 28 points by next month. I have one credit card with a 300 dollar limit  and a 0 balance. I am 1500 away from 50 percent below my original balance on my car. Will getting this below 50 percent boost my score a little. I really hope they remove that collection.  Anyone have any ideas????

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Welcome!

Did your lender povide your scores both times? If not that can explain the score difference.

Are the two lates your only baddies?

Paying the car note down likely won't help your FICO.

[Anonymous]

Yes he did. He i doesn't know what to tell me to do. those are my only 2 baddies. I have never been late on my car or credit cards. We did notice that my car lender hadn't reported since Novembet so I called them and they updated it now to show curent through January. Don't know if that will help. I really hope it does and continue to pray the city will remove that paid collection. I shouldn't have paid it but 3 people told me its their protocol When I called. 

[llecs]

I'd definitely pull your reports from a different source (don't buy any scores since they won't match your lender's). Based on your score something else is hurting your FICO score, unless those lates are still reporting and are very recent.

[Anonymous]

Those were my lenders scores. That's why we are trying to figure out the large discrepancies and the only thing I see the difference is that there are some open student loans that are a zero balance on my report. The scores are from experian and transunion respectively and I also my car loan hadn't reported since November, not sure if that would make a difference. 

[llecs]

The car loan won't make a difference. Installment utilization is a tiny part of FICO scoring, otherwise we would all get dinged for years following the addition of a large mortgage because it would take a while to pay it down.

I'm saying there is something else on your two reports aside from the lates that is draining your score. Tri-merge reports from lenders can be a bit tricky to read. I strongly recommend pulling your reports from somewhere and study them. Your FICO reports from here (you can only get EQ and TU, and not EX) will show any accounts that are a drain on your FICO score via a red flag on the Accounts page. That might be worth looking at too. I can see a scenario where the lates would knock your scores down that low if they were within the past few months. Or your score being that low if the lates were major like a 90+ or worse. Absent these two scenarios, something else is happening.

[Anonymous]

That's what the lender was saying. He said it makes no sense. If I had collections he would tell me to pay that, but I don't and I have a zero balance on cc's. it he only difference are those two extra student loans. I pulled my reports from here and Experian through experian. Just to use as a guide. EQ is 595 and my lender said we aren't even going to try to raise that bc that is so off. S I've decided to try disputing the SLs on there and Anaya thing I can thing of on there. But something is a miss. We have been scouring them trying to find something. 

he even threw out the idea that maybe his system is thinking I'm about to have a 30 day late on my car loan so maybe that's why my score dropped. It makes no sense. 

[llecs]

I'm not up to date on SLs or how they report but comments like "paid for less than full", "settled", "assigned to government", "election of remedy", "paid charge-off", "paid collection", and others are a negative drain, aside from any lates reporting. Generally any 30 day late beyond 2 years isn't hurting. ETA...not saying these apply to you but worth a double look.

[Anonymous]

Thanks for the suggestions. My Sall that are closed were consolidated. before that its was late in 2/12. My report reads. Ok FEB 60 MAR Ok APR. there are 2 loans. But the extra 2 that are on my EQ and EX I really don't know what it is and why it shows 0 balance never late but its open. How can Ian installment loan with a 0 balance be open. 

[llecs]

Well, the 60s are recent. I can see the drain now. It'll fade over time. Try mailing a GW letter to them.