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First Premier Help Needed - Is this inaccurate?

dirknights
Established Member

First Premier Help Needed - Is this inaccurate?

firstpremier.PNG

This is paid in full account. I paid it off in Sept 2019.

However (in my opinion) it's being reported quite differently between the two agencies.

Equifax was the worst, but has since been removed. Would any of the following be a valid reason for a removal based on the requirement of accurate reporting?

 

1. The Account Status is different

2. The date the account was open is different

3. The comment "Unpaid balance reported as a loss" -> there was no unpaid balance.

4. Date Last Active. Is quite different. This is having a big impact on my Experian score because the account seems more "fresh". It amounts to an almost 80 point difference between Transunion and Experian.

 

Thanks in advance for your response.

 





Message 1 of 28
27 REPLIES 27
gdale6
Moderator

Re: First Premier Help Needed - Is this inaccurate?


@dirknights wrote:

This is paid in full account. I paid it off in Sept 2019.

However (in my opinion) it's being reported quite differently between the two agencies.

Equifax was the worst, but has since been removed. Would any of the following be a valid reason for a removal based on the requirement of accurate reporting?

 

1. The Account Status is different

2. The date the account was open is different

3. The comment "Unpaid balance reported as a loss" -> there was no unpaid balance.

4. Date Last Active. Is quite different. This is having a big impact on my Experian score because the account seems more "fresh". It amounts to an almost 80 point difference between Transunion and Experian.

 

Thanks in advance for your response.

 


I would bring it to the attention of Credit One using the direct dispute. Just remember every time you dispute a CO and its not deleted it causes a Fico score drop as Fico calculates your score from the date it was last reported not the date it actually happened.

 

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Direct-dispute/td-p/2309095

Message 2 of 28
Birdman7
Super Contributor

Re: First Premier Help Needed - Is this inaccurate?

If it’s a paid charge off, a dispute should not result in any loss or catchup penalty, nor should it continue to suppress your scores. The loss comes from the delinquency period being extended. This fails to occur when it is already paid.

IF the payment status is paid, then the date recency should be calculated from should be the date it was paid, NOT the date it was last updated; that would only be the case if it were UNPAID.

Please very be very specific and tell me what data is in the fields. If you don’t already have it, get a report from annualcreditreport.com. It sounds like it’s not marked paid. And the fact that there’s that comment about the unpaid balance seems to buttress that.

To answer the question, the differences are not necessarily reasons for a dispute or change. Inaccuracies are however. The comment should be removed.

-Our Community’s updated scoring wisdom: Scoring Primer.
-New Mortgage Section:MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors thread.
-ccquest’s workbook calculates metrics for you: Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.




(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 3 of 28
dirknights
Established Member

Re: First Premier Help Needed - Is this inaccurate?

firstpremier.PNG

 

I had uploaded this picture before.  But for some reason, it wasn't showing.  Hopefully, you can see the image this time.  





Message 4 of 28
Birdman7
Super Contributor

Re: First Premier Help Needed - Is this inaccurate?


@dirknights wrote:

firstpremier.PNG

This is paid in full account. I paid it off in Sept 2019.

However (in my opinion) it's being reported quite differently between the two agencies.

Equifax was the worst, but has since been removed. Would any of the following be a valid reason for a removal based on the requirement of accurate reporting?

 

1. The Account Status is different

2. The date the account was open is different

3. The comment "Unpaid balance reported as a loss" -> there was no unpaid balance.

4. Date Last Active. Is quite different. This is having a big impact on my Experian score because the account seems more "fresh". It amounts to an almost 80 point difference between Transunion and Experian.

 

Thanks in advance for your response.

 


@dirknights I apologize I didn't even see the image in post one. Experian appears to be reporting correctly as a paid chargeoff, except for that comment, which is inaccurate and a basis for dispute; however a simple phone call may be able to get it removed. 


Something is obviously wrong and the screenshot you're showing me is a couple times removed from the actual data. The closest you can get to the raw data is at annualcreditreport.com where you can download your report free of charge weekly until 2021. Let's get the most accurate data and then we can try to come to some conclusions from that. 

 

Can you please pull your report from there and give me a screenshot of it as the above cannot be relied upon even though it looks good. 

 

As a matter of fact in the above information, TransUnion appears to be reporting incorrectly where the account status fails to reflect paid and it also shows that you dispute the account. If you ever try to get a mortgage, they're gonna want those dispute remarks removed, so you might as well remove them now.

 

There's a thread about removing dispute inquiries for mortgages linked in post 7 of the Scoring Primer, which is linked at the top of my signature. That might help you get those dispute remarks removed proactively.

-Our Community’s updated scoring wisdom: Scoring Primer.
-New Mortgage Section:MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors thread.
-ccquest’s workbook calculates metrics for you: Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.




(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 5 of 28
dirknights
Established Member

Re: First Premier Help Needed - Is this inaccurate?

I will try to get my report from that website you mentioned and do a screenshot. It might take me a few hours. I apologize for that in advance. Again, I really appreciate your help on this one.




Message 6 of 28
Birdman7
Super Contributor

Re: First Premier Help Needed - Is this inaccurate?

No problem at all it’s my pleasure. As long as I don’t fall asleep, I’ll take a look at it tonight. Something sounds fishy though.
-Our Community’s updated scoring wisdom: Scoring Primer.
-New Mortgage Section:MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors thread.
-ccquest’s workbook calculates metrics for you: Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.




(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 7 of 28
dirknights
Established Member

Re: First Premier Help Needed - Is this inaccurate?

I downloaded my reports from annual credit report:

 

Transunion:

transunion.PNG

Experian:

 

experian.PNG

It seems the previous source of the data was the problem?





Message 8 of 28
Birdman7
Super Contributor

Re: First Premier Help Needed - Is this inaccurate?

@dirknights Yes, the previous source of the data was the problem, you are correct. That’s why you gotta get data straight from the horses mouth. The only thing you need to do is have them remove that part about consumer disputes from both bureaus, as previously directed.

EX does not in anyway look like it’s inaccurate; it shows paid chargeoff, settled for less with the amount, which they are allowed to do. It is not continuing to suppress your scores; it does not even reflect an update after September 2019.

-Our Community’s updated scoring wisdom: Scoring Primer.
-New Mortgage Section:MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors thread.
-ccquest’s workbook calculates metrics for you: Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.




(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 9 of 28
Birdman7
Super Contributor

Re: First Premier Help Needed - Is this inaccurate?

I would note Experian shows that you settled for less while TU shows you paid in full.

I assume Experian’s correct that you did settle for less?
-Our Community’s updated scoring wisdom: Scoring Primer.
-New Mortgage Section:MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors thread.
-ccquest’s workbook calculates metrics for you: Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.




(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 10 of 28
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