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At a Loss, 6 year old Wells Fargo Repo - Major Credit Ding

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At a Loss, 6 year old Wells Fargo Repo - Major Credit Ding

Okay... I'm sitting here a bit dumb founded...

I had a repo just a month short of 6 years ago on a car thru Wells Fargo. I started rebuilding my credit about 4-5 months back and this is one of the "badies" I was just going to let fall off due to age. Well on Sept. 2nd, I hope online to find Wells Fargo had updated their report... It looks like they moved all my 30 days lates to 60's, 60's to 90's and 90's to 120's... Then to add on top of that, it appears they removed all my "on-time" payments to "no data", smacking me with a 95 point drop on my Equifax score!

 

Would anyone happen to have any insight on this or suggestions or could recommend what I could do?

 

 

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Message 1 of 10
9 REPLIES 9
Senior Contributor

Re: At a Loss, 6 year old Wells Fargo Repo - Major Credit Ding

You didnt happen to dispute anything with this account? Plus try to get a FICO score. Thats CK. Not thats its not accurate. Best to make sure it really happened. Grab your 3 free FICO's at credit check total and cancel before the trial ends. Then report back. Something happened for a out of the blue update.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 2 of 10
Established Member

Re: At a Loss, 6 year old Wells Fargo Repo - Major Credit Ding

I did dispute 4 months back, and they updated then also. But this update was out of the blue. Do you know any other trials besides Experian? I just did that one last month. I just find it weird I have zero 30 layers now...
Message 3 of 10
Super Contributor

Re: At a Loss, 6 year old Wells Fargo Repo - Major Credit Ding

Why did you dispute?








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Message 4 of 10
Established Member

Re: At a Loss, 6 year old Wells Fargo Repo - Major Credit Ding

pretty sure I disputed thru equifax. But I could be wrong. 4 months ago is a long time when I can't even remember what I ate for dinner last night lol. But it was to verify the debt, and to dispute the amount owed. And the amount was off(they changed it from $6400ish to $0 Charged Off). That was before I decided I was just going to let it age off.

Message 5 of 10
Frequent Contributor

Re: At a Loss, 6 year old Wells Fargo Repo - Major Credit Ding

Since you are going to wait for it to dropoff...

Early Exclusion:
TU 6 months
EX 3 months
EQ 1 month. I would not recommend requesting EE.
Message 6 of 10
Frequent Contributor

Re: At a Loss, 6 year old Wells Fargo Repo - Major Credit Ding

I have a similarly aged repo with them and they changed it to report that way awhile back. They also report monthly to make it seem like new lates. I think they do it to try to motivate ppl to settle. Good times.
Rebuilding my credit. From low-mid 500s to 700s in two years!
Message 7 of 10
Established Member

Re: At a Loss, 6 year old Wells Fargo Repo - Major Credit Ding

Thanks @Readyformyhome, it's nice to know I'm not the only one! Did you see your score bounce back? If so, how long did it take before you saw your first bounce upwards? I know "re-aging" isn't legit and I'd be able to do something if that was the case here. But does anyone know if there is anything I could do to urge them to correct this?

Message 8 of 10
Frequent Contributor

Re: At a Loss, 6 year old Wells Fargo Repo - Major Credit Ding

They've taken zero action to try to collect from me and the last thing I want to do is encourage them to come after me, so I've just sucked it up basically. It didn't hurt my score as much as yours, but I definitely did recover... just not sure how long it took. 

Rebuilding my credit. From low-mid 500s to 700s in two years!
Message 9 of 10
Established Member

Re: At a Loss, 6 year old Wells Fargo Repo - Major Credit Ding

Nice yo hear you recovered and it sounds like it didn't take too long... Lucky me, we're already to the 6 year mark and 5 years it the limit they had to sue where I'm at. Still sucks tho! lol! But hey, yesterday I got a 6 point bump. I wish I could say it was related to that account, but I took my util from 29% to 9%. lol

Message 10 of 10
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