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I had several accounts charge off, as they were paid in a settlement, which I have statements from the credit cards company and agree to the settlement amount. I also understand those cards will stay on my CR for 7 yrs, the problem is, when I look at my report for example my TransUnion report it says my payment history is very good, have not been late with anything. Also note settled these 5 accounts, about 3 years ago and have not been late with anything since. When I look at Credit at a glance, is shows 0 late payments. When I look at the accounts I settled they say Payment after charge off/collection, which is OK with me as I understood what this would do before I settled, the problem is the other 2 reporting agencies say my payment history is not good, and show late payments, when looking at Credit at a glance. Also the same charged off/settled accounts show as Bad debt/collection, rather than Payment after charge off/collection. Also on the other 2 reports my score as much lower, and I think this is caused by the problem above. Almost 60 points lower on the reports. Can I get this fixed so that when I pull my report it no longer shows that I have payments late at the current time like Transunion? Can I get these accounts that say Bad debt/collection changed to charged off/settled? Would that help me? Any advice would be appreciated.
Thanks
Welcome to the forums!
That's typical for TU. They tend to make an account look good before the others.
All you can do is to GW the OC to ask them to remove any lates and to request that the account be listed as "paid as agreed".
Thanks for the welcome
So when I write the GW, I want to send it to the OC is that correct? In doing this, it does not risk them trying to get me to pay them or something does it? Just want to make sure as I do have the settlement letter. Will this help my score at all? Any idea how I would go about finding what address to send it to for the OC? Do I need to enclose the settlement letter?
Thanks for your help
One other question I had, I assume I should not try to dispute them with the CA and go direct to the OC?
Thanks again
Yep. Send the GW to whoever is reporting, or in this case, the OC. For the address, I'd recommend using an old statement first. If not available, then start with the address listed on your CR. You can sometimes find this info of the myFICO reports. If not, then try pulling your CR directly from the CRA.
If they help you, absolutely your scores could increase. The increase would depend on the severity of the baddie, the age of the baddie, and the number of baddies you'd have remaining.
Warning: some OCs have been known to delete at the sight of a GW. If this TL is older than your avg. age (AAoA), the OC summarily deleting it could harm your scores, even with the presence of a CO. On the flip side, your report will look better for it. If younger than your avg. age, expect a decent increase.
Also, some OCs have been known to place a "dispute" with each CRA. If they do, your score could actually bump. However, once the dispute clears, then your score could revert back.
Finally, TU is reading as a good account. Some OCs/CAs have been known to be a pain and report equally across all 3. In this case, there's always the chance they would make TU look bad.
If I had to make a decision, I would look at the age of the TL. If not too old in relation to the other TLs, I would GW without hesitation.
Monolith5 wrote:One other question I had, I assume I should not try to dispute them with the CA and go direct to the OC?
Thanks again
Well, besides this site frowning on disputing accurate info, disputing could cause more problems than you may realize. Don't do it.