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Why did account status change?

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Why did account status change?

I have an account on my credit report where I was an authorized user. This account was closed by the creditor (Capital One). This account belonged to my daughter. Capital One transferred the account to a third party. Because of my daughters health decline she applied for the Total and Permanent Disability Discharge(students loans) and was approved. She was unable to pay her bills and explained that to the third party because they kept calling. They, in turned sent the account back to Cap One. On her credit report it states ACCOUNT CLOSED BY CREDIT GRANTOR. But, I received an alert on my report account change. Why is that since I was just an authorized user? Sorry for the long story. Will this make my score decrease?

 

Thanks for the help

Starting Score: EQ 430, TU 467, EX 465
Current Score: EQ 617, TU 618, EX 611
Goal Score: EQ 700, TU 700, EX 700


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Re: Why did account status change?


@Jayla127 wrote:

I have an account on my credit report where I was an authorized user. This account was closed by the creditor (Capital One). This account belonged to my daughter. Capital One transferred the account to a third party. Because of my daughters health decline she applied for the Total and Permanent Disability Discharge(students loans) and was approved. She was unable to pay her bills and explained that to the third party because they kept calling. They, in turned sent the account back to Cap One. On her credit report it states ACCOUNT CLOSED BY CREDIT GRANTOR. But, I received an alert on my report account change. Why is that since I was just an authorized user? Sorry for the long story. Will this make my score decrease?

 

Thanks for the help


Even if you're an AU, any change to the account affects your reports as much as it does your daughter's.  You can always ask to be removed from the account and have the tradeline completely removed from your reports if you so desire.  The account closed notice doesn't affect your scores one bit. However if there are late payments showing that would hurt your scores until  you had the tradeline removed from your reports.  Hope this helps.

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Re: Why did account status change?

Thanks for the information on what to do
Starting Score: EQ 430, TU 467, EX 465
Current Score: EQ 617, TU 618, EX 611
Goal Score: EQ 700, TU 700, EX 700


Take the myFICO Fitness Challenge
Message 3 of 3
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