Pay off Cards - Score dropped 60 pts?

[Anonymous]

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@Anonymous wrote:

You are so incredibly helpful! Thank you! I will look for it. Another novice question - why are there variations between my reports? I have read articles providing some information - but I kind of thought they should all be pretty similar? I do have the paper reports. I am scrolling the threads while my oldest plays basketball, so I will have to grab them when we are home, but my goodness there is some interesting information on here!

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Different lenders and creditors report information.  Some don't report to all reports, others do but there may be slight delays in when they report or update.  No one has 3 identical reports except the rarest few and that's usually temporary!

As long as you focus on building credit and managing it responsibly, you don't have to worry about this at all -- over time as accounts age, the "variance" between profiles starts to diminish a little bit.

[Anonymous]

Got it! Thanks so much  

[Anonymous]

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@Anonymous wrote:

Here is what CK has on the repo.. Sorry, couldnt figure out how to post the screenshot,

Last payment Feb 22, 2012 Current Payment Status In Collections/Charge-off Worst Payment Status No Info

Account status Closed Type Automobile Responsibility Joint Remarks Payment after charge off/collection
Transferred to recover
Times 30/60/90 days late 0/0/0 Closed Feb 14, 2012

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Wow that's complicated.  The account was closed almost 6 years ago but we should PROBABLY assume the first deliquency was before they closed it.  It appears someone tried to make a payment after it closed but I assume it didn't catch them up.  So imagine if they charged it off after 150D late (I am guesstimating here!) then maybe it went first late around 5 months before that?  September 2011 would be my guesstimate but that's me doing magic tricks so don't trust or believe it without confirming with your paper reports.

If it's September 2011 (big if), then it should report until September 2018 or as late as February 2019.  The thing is, some credit bureaus will delete old accounts on demand if there are only a few months left on reporting (we call this EE or Early Exclusion, search the credit rebuild forums here for the words!).  So maybe some bureaus might delete it as early as March 2018 but don't have your hopes up without confirming those dates first with your paper reports.

I always pull my paper reports each year in March since they're free any time and I find it fits my schedule better.

[Anonymous]

Got it - My friend mentioned pulling in March as well, so I will likely buy the reports in March (since I just pulled) and then start from that point on getting them yearly. I will search for the terms you mentioned. Yes, I bet he likely did try to make a couple payments to catch up... Can you point me towards anything regarding reporting of debts? I'd like to brush up on that but I am, apparently, not searching the correct terms on the forums. Thanks again for all your time and help.  

[Anonymous]

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@Anonymous wrote:

Got it - My friend mentioned pulling in March as well, so I will likely buy the reports in March (since I just pulled) and then start from that point on getting them yearly. I will search for the terms you mentioned. Yes, I bet he likely did try to make a couple payments to catch up... Can you point me towards anything regarding reporting of debts? I'd like to brush up on that but I am, apparently, not searching the correct terms on the forums. Thanks again for all your time and help.  

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There's a poster on here by the name of RobertEG who is the master of Federal legalese and usually makes the best comments on that stuff.  Haven't seen him around today so doubt he'll pop in to comment.

The majority of reporting guidelines come from Federal law, namely the FCRA.  The FTC has some advice for folks on that here: https://www.ftc.gov/tips-advice/business-center/guidance/consumer-reports-what-information-furnishers-need-know