I will try to not be too long winded here..... but the facts are these:
Paid off (2) Cap1 Charge Offs via settlement for basically 50 percent of balance with payments received May 28 2019.
I know to be patient as it will take two reporting cycles for accounts to be updated as paid.
June 2019 all CRAs receive updates for the payment amounts, balance still showing total less the payment recorded. Fine.
July 2019 TU and EQ updates show accounts set to zero Balance. Score boost on both. Fine. EX is a hold out.
So as of August 1st, TU and EQ correctly show 0 balances, Status Date: July 2019 and Balance Update: July 17, 2019.
EX was still showing figures from June and June dates for Stats and Balance Update.
August 24 I write a letter to Cap1 indicating it has been > 60 days since their confirmation letter of June 24 for my payment May 28 but EX has not correctly updated the balances on these accounts with the request that they resend the account updates to EX.
September 9th, EX correctly posts the 0 balance on each account and sets the Status Date: May 2019 and Balance Update: May 28 2019 on each account. The date Cap1 actually received my payment (May 28). Nice point boost similar to TU and EQ from July as expected.
I can see now though that Cap1 also sent the same update to TU and EQ.
So TU updates the accounts again changing the Status Date and Balance Update from July to May 2019 same as Experian did. Fico 8 remains the same for TU. All fine here, no complaint.
However, EQ took the same info received from Cap1 and changed the Status Date: July 2019 and Balance Update: July 17, 2019 to Status Date: September 2019 and Balance Update: September 9 2019.
This drove a 26 point loss to my Fico 8 for EQ (and also a 112 to Vantage 3.0 but not the concern).
I can clearly see that the other two CRAs chose to take what Cap1 gave them on September 9th and back dated both the Status Date and the Balance Update date to May 2019 of this year. The correct approach in my opinion as that was the actual date the balances were to have been set to 0.
I was just going to leave it alone as I am not sure how best to dispute the matter with EQ anyway and that EQ seems inept at times therefore I may cause more damage than I am trying to recover here.
Any advice on whether I should take some action and if so, what exactly would be suggested for how to get successful correction by EQ?
What supporting documentation would you send if you did raise an issue with EQ?
Or am I better off just leaving it alone and letting it age and gain my points back that way?
@Remedios wrote:Leave it alone for one reason only and it pains me to say this but EQ is reporting correctly, as long as delinquencies stop after May and balance properly reflects $0.00 owed.
Status update date is when the update was actually received, not when payment was made.
If EQ shows missed payments for June, July and August, they are reporting wrong. If they show balance being $0.00 but are using the date they actually received update, that's not incorrect.
If you start the dispute, and Cap One gets involved again, it's quite possible all three may reflect info the same way EQ is. I'd leave it alone but you're free to do whatever you feel is right.
If you decide on disputing, do it via certified mail, send them Cap One letter and proof of payments.
The thing is that TU and EQ had it correct in July with July dates.
Then in September, Cap1 sent the same information again to all three CRAs (though I only requested EX as they had not updated).
EQ changed the balance update and status dates to September when it was the same information reported to them in July.
But I agree, I think its best just to leave it alone and let it age now.
It took 4 months to get the 0 balance reporting across all CRAs.
Disputing it with EQ will likely only make it worse and extend the date another month.
I was suprised to see a date change from July to September cause a 26 point loss on EQ though, basically a big chunk of the score recovery I gained from getting these accounts from 100+ perecent to 50 percent to zero.
Thanks for chiming in on the point. Your feedback is always appreciated.