Please Help! Equifax Reporting is Causing 30 Day Late on EQ

[Heartoul25]

Hello!

This is my very first post. Please forgive me if I am posting this in the wrong place. I saw that someone recently posted something similar.

So I have a number of derogatory accounts that I am working on getting paid and or removed and my last late payment was over 5 years ago, but due to a reporting field on EQ called Date of First Major Delinquency, an updated dispute (disputed on TU and EX) shows it at being late 30 days ago when it is in fact a charge off and has been charged off since 2018.

Can anyone tell me how I can potentially go about getting this fixed quickly? It is supressing my score (a lag of 30 ish points between them and the other two CRAs).

Thank you for any guidance you can give.

[Linnaea]

I am also curious ... following 

[JoeRockhead]

So I'm kind of confused here.... are you saying that you had an account that was previously reporting as a charge off with a DOFD in 2018, but is now currently reporting as a recent 30 day late? Also, what does a dispute with TU and EX have to do with EQ other than EQ is potentially reporting it incorrectly?

Not saying that you did but, this would be a good example as to why it's never a good idea to dispute accurate information (particularly with EQ) as it can often then get reported inaccurately... Or, can update to reporting otherwise dormant adverse information that may have stopped reporting, to a more up to date status.

I'm sure some may disagree with me but, the quickest way to get this corrected with EQ is to call them. If you don't get a satisfactory response from the first level CSR (which is a very real possibility), politely ask to speak to a supervisor and kindly ask them to look back at the previous reporting history compared to the current reporting if in fact this went from reporting a charge off, to reporting a recent 30 day late (which should not be at all possible being the account went to CO status).

[SouthJamaica]

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@Heartoul25 wrote:

Hello!

This is my very first post. Please forgive me if I am posting this in the wrong place. I saw that someone recently posted something similar.

So I have a number of derogatory accounts that I am working on getting paid and or removed and my last late payment was over 5 years ago, but due to a reporting field on EQ called Date of First Major Delinquency, an updated dispute (disputed on TU and EX) shows it at being late 30 days ago when it is in fact a charge off and has been charged off since 2018.

Can anyone tell me how I can potentially go about getting this fixed quickly? It is supressing my score (a lag of 30 ish points between them and the other two CRAs).

Thank you for any guidance you can give.

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I would dispute it, but I don't know a way of getting it fixed quickly.

[pizzadude]

Moving to Rebuilding forum

[bass_playr]

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@Heartoul25 wrote:

Hello!

This is my very first post. Please forgive me if I am posting this in the wrong place. I saw that someone recently posted something similar.

Hiya, welcome to the forums!

So I have a number of derogatory accounts that I am working on getting paid and or removed and my last late payment was over 5 years ago, but due to a reporting field on EQ called Date of First Major Delinquency, an updated dispute (disputed on TU and EX) shows it at being late 30 days ago when it is in fact a charge off and has been charged off since 2018.

This is probably not EQ that's the cause of this, but it could be.  Oftentimes its the furnisher--the party that's reporting it to EQ that makes the error.  This is especially possible when a collection is sold to another debt collector.  I would dispute it, and I'd be specific, if it's been a charge-off since 2018 there's no way it could be 30 days late last month.  The correct reporting status is CO, or Charge-off.  It will remain in that status until you pay it off, at which point it becomes a paid charge-off.  While it still harms your credit at that point, it harms it less than if it stays in unpaid CO status.

Can anyone tell me how I can potentially go about getting this fixed quickly? It is supressing my score (a lag of 30 ish points between them and the other two CRAs).

Unfortunately, there's usually no "quickly" with the CRAs.  They don't do very much quickly.  I would dispute the 30-day status and remind them in your dispute that it's been a charge-off for over 5 years so a new 30 day late is not possible.

Also, wanted to add, usually when someone needs to fix credit "quickly", they are trying to do something that one would need credit for.  Please consider if that's the case that many things in that category are going to be problematic with any charge-offs on your credit, reporting correctly or not.  Honestly, the 30 point difference between the CRAs is not anything to be worried about, as they very rarely report the same scores.  It's not going to cause you any real issue at this point that they are different.  Not all furnishers report to all the bureaus.  I have multiple accounts that are only reported to one bureau but not the others.  I also have a couple that show up on 2 of mine but not all 3.  It is quite common.  Hope this helps

Thank you for any guidance you can give.

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[KateInquires]

Just came to say if the charged off isn't paid, it is reporting correctly. It is late, charged off or not. Disputing it updated it but the only way to stop it is to pay it.