Hello, newbie here, quick question about re-aging

[Anonymous]

HAppy New year!!

This is my first post on the forum, I would like to know if my account has been re-aged. I recently disputed my 2year old, fully paid Cap1 account, I basically asked for  validation of the lates- which they haven't fully provided me- but they added the comment "Account disputed by consumer". Now, my Equifax score dropped 28 points, ( not the FICO one). I'm not sure if it's because of the comment or the fact that the last date reported on Equifax changed from 01/01/2010 to 12/012011?

Does that mean the acount has been re-aged? and Is it legal for them to have changed the date? I kind of knew that they have to report t the account as being disputed but I had no clue my score was going to drop because of the dispute!

What did I do wrong here?

[pizzadude]

Hi, welcome to the formus !

First of all, your Non-FICO ( or FAKO ) score can't be correlated back to a FICO score, so I wouldn't waste any time worrry about it.

"re-aging" occurs when a OC or CA illegally changes the DOFD, such that an account shows on your CR longer than the original 7 or 7.5 years that it would have shown.

Unless the DOFD has changed then your account hasn't been re-aged.

[Anonymous]

Ok thanks!

But there isn't a DOFD on my CR, HOw are they going to figure how many years are left for the account to come off? It says I was 30,30,60 days late in 2009, which I'm also disputing.

Also what then caused my score to drop? I didn't check my FICO score yet, but I just assume it also dropped because of either the comment or the date change?

[MarineVietVet]

---

@Anonymous wrote:

Ok thanks!

But there isn't a DOFD on my CR, HOw are they going to figure how many years are left for the account to come off? It says I was 30,30,60 days late in 2009, which I'm also disputing.

Also what then caused my score to drop? I didn't check my FICO score yet, but I just assume it also dropped because of either the comment or the date change?

---

Welcome to the forums.

You don't say where you got your reports but reports from third party sites (including myFICO) often don't have the most complete information. If you pull your free reports from annualcreditreport.com Experian and Transunion will have the drop off dates. The Equifax report will show the actual DoFD.

Now as to why your score went down I will only guess but unfortunately (or fortunately depending on how you look at it), portions of an OC account under dispute will not be scored by FICO. Among these are the balance, the CL, and the payment history. Other items like AAoA, scoring bucket, mix of credit, acct age, etc. including CAs and PRs, are not removed or impacted by a dispute.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

I got my report from Equifax directly. It doesn't show the DOFD. COuld it be that the OC, didn't provide it?

I disputed the lates with Cap1, and theyput a comment, Account disputed by consumer. I contacted Equifax and they told me if I can get them to remove that comment then my score will go back up.

Now, some one else told me adding a comment doesn't have any effett on how your score is computed. And I read somewhere that the date reproted shouldn't make your score drop.

I still don't understand the reasoning behing this drop. Maybe I should just check the other reports and see if there is any score change...

[MarineVietVet]

---

@Anonymous wrote:

I got my report from Equifax directly. It doesn't show the DOFD. COuld it be that the OC, didn't provide it? It's very possible the OC didn't provide that information to the CRA's. You can always call the OC and just ask what the DoFD was or ask for the entire payment history.

I disputed the lates with Cap1, and theyput a comment, Account disputed by consumer. I contacted Equifax and they told me if I can get them to remove that comment then my score will go back up.

Now, some one else told me adding a comment doesn't have any effett on how your score is computed. And I read somewhere that the date reproted shouldn't make your score drop. A comment like "Account disputed by consumer" can most definitely affect your score. Like I said in my first post during a dispute certain parts of your report (balance, the CL, and the payment history) will not be scored. Once the dispute has been resolved these aspects are once again scored and the score will likely change once again. 

I still don't understand the reasoning behing this drop. Maybe I should just check the other reports and see if there is any score change...

---

[Anonymous]

I actually just checked my Transunion (FAKO) score it only dropped 13 points. from 685 to 672. I guess they all just have different computing methods! Shew!

I'm actually starting to think it might be becasue I recently opened a new account and the utilization is pretty high on that card already.. But I'm paying it off next week, so My score should jump back up. I used a similator and it shows that if I decrease the balance to 20% my score will be 738!!!

I don't want to start jumping, as I'm not sure if I can trust that simulator...

I will need to apply for a Auto loan by the end of next month, I want to actually see it before believing it!

[RobertEG]

When you dispute, some of your Cr information is temporarily removed from your FICO scoring until the dispute is resolved.  So it puts you into a state of FICO uncertainty until the dispute is resolved.  It is thus important not to dispute unless you have a real inaccuracy in their reporting.

You say your dispute was a "request for validation of the lates."  Did you, in your dispute, assert or provide evidence of inaccuracies in their reporting, or did you simply ask for "validation?"  If you simply asked for validation, that is not really a dispute.  OCs dont validate, they investigate asserted inaccuracies.  OC "validation" is built along the way through your billing statements and account history, which they regularly provide to you.

Creditors are required, once they have reported a charge-off or collection, to report the DOFD on the account to the CRAs within 90 days.  FCRA 623(a)(5). So, presuming they have complied with their statutory requirement, the DOFD should be in your credit file.  You can obtain it by filing an information request with the CRA under FCRA 609(a)(1).

[Anonymous]

Well, in the first letter I sent, they thought I was asking for a validation of the debt - the account is paid off, so that was not in question- They sent me something like this:

"According to our records, we received your application by internet on 06/03/2008 and your account was opened on 06/04/2008. The last charcge billed to your account was on 08/2008 in the amount of $4.29. Your last payment received on this account was on 01/08/2010in the amount of $2.69.
We have placed a disagreement code with a resolution of dispute on your credit file to the major credit reporting agencies
This account was opened with a valid contract between you and Capital One."

I was asking them to validate the negative tradelines, meaning the lates. They didn't. So, I sent them another letter yesterday specifically asking them to validate those late notations as per the FCRA, Section 623, Responsibilities of Furnishers of Information, I do not recall being late so many times and I think thay aren't reporting my information accurately.

 I didn't send them any documenations because I do not have my statements anymore. I also asked for the DOFD.. and basically that they give me something that will show that I was late so many times in 2009. Also, there were discrepancies in the letter they sent me and what they are reporting on my CR and with what I actually remember from the account-like I only used the card for 3 months-. So, hopefully they will take care of all this by the due date I gave them.

By the way, they only added the comment when they considered the dispute resolved. So, it's not like they added it while they were "investigating"; I only got one notification from Equifax that Cap added a comment and the same day I received it, I got home from work and found their letter in the mailbox. It was one week after they received my letter that they responded. And really I was only asking for a validation but they took it as a dispute.

Anyway, I gave them 15 days to provide me with some kind of documenation or remove the late notations, otherwise I may have take them to small court claims.