Equifax multiple updates tanking score

[Anonymous]

Hello all,

Is there any way to stop an account from repeatedly updating (multiple times in the same month) each of which is hurting my score? I have an account that is due to fall off on 5/2019, I have had issues with the bank (USAA) about the account and have tried to settle the account, but they are unwilling. I have even talked to the CEOs office and got nowhere but to have them say it's my fault for being young and dumb with my cc (which I understand). That said I have previously done a dispute on the account for incorrect DOFD (on Equifax both the others show the correct DOFD) once investigated the DOFD was corrected. At the end of September, I noticed that once again the DOFD was changed to the wrong date putting the fall off date at 1/2020 so I initiated another dispute. Now it seems about once every two weeks something minor on the account is updated dropping my score each time. For instance this update it shows on the fico app that the wording for status was changed to remove "flexible spending card" and only show "consumer disputes investigation in progress - charge off" that alone dropped my score another 9 points. So far by minor changes including adding and removing the flexible spending card part I have lost 26 points on my Equifax score. While this isn't a massive change, it is frustrating that they can keep updating little bits just to drop my score. Does anyone know what I can do to stop the slow bleedout of my score?

[gdale6]

Welcome to the board

Only way is pay it or dont worry about it till it drops off. Its a weapon they use against you to try and prevent you from obtaining more credit.

[Medic981]

Welcome to the myFICO forums!

It is USAA updating your file, not EQ. USAA Bank is just like any other bank and will do what they think they have to do to get their money. I take it you are past your SOL and awaiting your derogatory to fall off?

[SarahJo]

If the drop off date is 5/2019, what I would do is bite me tongue and mark the EE dates on my calendar to call and get it removed from each CRA.  For TU, you can call 6 months prior to drop off date and request the EE (12/2018, not too long to go!).  For Experian, 3 months (2/2019, so close!). For Equifax, 1 month (those buggers haha, 4/2019).  As usual YMMV, I've had Experian even tell me to call back on a certain date later in the month for the EE...but this should give you some peace knowing you are so close to it being just a bad memory.  As said, since the SOL is so close this cues a "desperate measures," tactic for those who are attempting to collect. 

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[Anonymous]

I am planning to wait and get an EE if possible the issue is it seems like every few months the Equifax DOFD gets changed (why I have another dispute in) and it would push the EE time back almost another year. That is my real main issue, they have already issued a 1099c which I paid due to their policy of not collecting after four years of delinquency. The SOL is passed, so I'm not worried about them going the court route just mainly that they seem to keep trying to tank my score as well as change the DOFD.

[RobertEG]

The dispute process requires that if the CRA finds disputed information to be inaccurate and corrects the reporting, they are required, in addtion to notifying the consumer of the correction, also required to send notice of the correction to the furnisher of the information.

See FCRA 611(a)(5)(A)(ii).

The purpose of sending notice to the furnisher is that FCRA 623(a)(2)(B) prohibits the furnisher from thereafter re-reporting any information to CRA after a dispute has found it to be inaccurate.

If information, such as the DOFD, has previously been disputed and the creditor therafter re-reports that same information that was previously found in a dispute to be inaccurate by the CRA, that is a specific violation of FCRA 623(a)(2)(B) for which the creditor can be found liable for willful or negligent noncompliance.