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Late Payment when None Exist

jeboles
New Contributor

Late Payment when None Exist

I've decided to bite the bullet and pay for the MyFico Premier to get all my Mortgage scores.  Upon reviewing my report, for Equifax, it shows I had a late payment this year around 3 months ago.  However, I know I had not missed any payments.  I've looked at all my accounts listed and none show that I missed a payment.  Could this error affect my score?  My Equifax is about 25 points lower than my other reports.

Message 1 of 15
14 REPLIES 14
sznthescore
New Contributor

Re: Late Payment when None Exist

@jeboles  Is the late payment on the Equifax report?  If so that is why there is a difference in score.






Message 2 of 15
jeboles
New Contributor

Re: Late Payment when None Exist

you sure?  I got the report from MyFico.

Message 3 of 15
jeboles
New Contributor

Re: Late Payment when None Exist

I have no late payments.  I checked all 61 entries and none are showing late this year.

Message 4 of 15
LaHossBoss
Senior Contributor

Re: Late Payment when None Exist


@jeboles wrote:

I've decided to bite the bullet and pay for the MyFico Premier to get all my Mortgage scores.  Upon reviewing my report, for Equifax, it shows I had a late payment this year around 3 months ago.  However, I know I had not missed any payments.  I've looked at all my accounts listed and none show that I missed a payment.  Could this error affect my score?  My Equifax is about 25 points lower than my other reports.


Do you have any COs and CAs?




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 7•21 | EQ [F8 645] [F9 651] [EQ5 684] [VS3 630] | TU [F8 717] [F9 692] [TU4 723] [VS3 643] | EX [F8 714] [F9 675] [EX2 681] [VS3 674]
Goal Score: 670 [X] TU [X] EX

Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 7•21 | EQ [F8 670] [F9 622] [EQ5 706] [VS3 639] | TU [F8 676] [F9 673] [TU4 652] [VS3 620] [VS4 598] | EX [F8 707] [F9 711] [EX2 680] [VS3 656]
Goal Score: 670 [X] TU [X] EX




Message 5 of 15
jeboles
New Contributor

Re: Late Payment when None Exist

I do have charges off but they were all paid over a year ago.  Wouldn't explain the 3 months part, would it?  Also, Equifax is the only 1 reporting it, not the other 2.

Message 6 of 15
LaHossBoss
Senior Contributor

Re: Late Payment when None Exist


@jeboles wrote:

I do have charges off but they were all paid over a year ago.  Wouldn't explain the 3 months part, would it?  Also, Equifax is the only 1 reporting it, not the other 2.


I have had the same thing happen, yes. Only one bureau (I believe also EQ) will count a CO update as a derogatory mark for the month, bringing it more current. Did you try disputing it at the time? That may be where the update came from.




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 7•21 | EQ [F8 645] [F9 651] [EQ5 684] [VS3 630] | TU [F8 717] [F9 692] [TU4 723] [VS3 643] | EX [F8 714] [F9 675] [EX2 681] [VS3 674]
Goal Score: 670 [X] TU [X] EX

Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 7•21 | EQ [F8 670] [F9 622] [EQ5 706] [VS3 639] | TU [F8 676] [F9 673] [TU4 652] [VS3 620] [VS4 598] | EX [F8 707] [F9 711] [EX2 680] [VS3 656]
Goal Score: 670 [X] TU [X] EX




Message 7 of 15
jeboles
New Contributor

Re: Late Payment when None Exist

No chargeoffs have updated.  I've looks at all the payment history for every account.  I see no 30 day late on any account.  Doesn't make sense.  Credit Karma reports I hadn't missed a payment in 37 months for Equifax, which seems right.

Message 8 of 15
LaHossBoss
Senior Contributor

Re: Late Payment when None Exist


@jeboles wrote:

No chargeoffs have updated.  I've looks at all the payment history for every account.  I see no 30 day late on any account.  Doesn't make sense.  Credit Karma reports I hadn't missed a payment in 37 months for Equifax, which seems right.


It will not show a 30d late

 

It will say under "date updated" or "last update" or something like that, the date.

 

Or it may show "CO" for 3 month ago in the payment grid, but I would rely on the last update date, first.




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 7•21 | EQ [F8 645] [F9 651] [EQ5 684] [VS3 630] | TU [F8 717] [F9 692] [TU4 723] [VS3 643] | EX [F8 714] [F9 675] [EX2 681] [VS3 674]
Goal Score: 670 [X] TU [X] EX

Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 7•21 | EQ [F8 670] [F9 622] [EQ5 706] [VS3 639] | TU [F8 676] [F9 673] [TU4 652] [VS3 620] [VS4 598] | EX [F8 707] [F9 711] [EX2 680] [VS3 656]
Goal Score: 670 [X] TU [X] EX




Message 9 of 15
LaHossBoss
Senior Contributor

Re: Late Payment when None Exist

It would help most if we could see screen shots or pics of the derogatory accounts, with your personal info redacted, of course.




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 7•21 | EQ [F8 645] [F9 651] [EQ5 684] [VS3 630] | TU [F8 717] [F9 692] [TU4 723] [VS3 643] | EX [F8 714] [F9 675] [EX2 681] [VS3 674]
Goal Score: 670 [X] TU [X] EX

Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 7•21 | EQ [F8 670] [F9 622] [EQ5 706] [VS3 639] | TU [F8 676] [F9 673] [TU4 652] [VS3 620] [VS4 598] | EX [F8 707] [F9 711] [EX2 680] [VS3 656]
Goal Score: 670 [X] TU [X] EX




Message 10 of 15
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