Sis reachedout to me this morning b/c she got an alert on MyFico about score change. She logged in and her EX score dropped from 722 to 687 as an old account that I had previously posted about changed status today.
She logged into to see this:
Then we checked her Experian report on Credit Check Total and see an alert as well today and the pull her EX report and see the change as well. Shows two, now, not sure why in the past it ony showed one, the first one with all the info, now looks like a 2nd one is a new account number and just the charge off (I cropped out for Privacy reason, but they are completely different, start, middle and end).
Then we checked her EQ record. This item used to appear on her TU, but years ago she disputed all and TU removed it, but EQ and EX did not.
So told her I would ask the FICO community who knows more than I do.
She is in Texas. SOL is 4 years I believe. This is set to fall off in April 2018. OneMain bought her account (in good standing from CitiFinancial) and at the time she was traveling and unaware and continued to make payments forwarded on that never made it's way to One Main (found this out some time later after damage done). She and I tried to fix between the two, no dice, both blamed each other and pointed fingers and then blamed her for working and traveling abroad and not constantly checking her mail and email about changes coming, etc, etc.
One Main has been an ass to her and Citi has ben better and her Fico scores have been good, even now the drop from 722 to 687, while not optimal is not too too bad. Still in the "good" range. Her TU is 760 and her EQ, even with the above One Main negative charge off, is 733 as of today.
Question, should she expect any AA for her credit card companies? She is currently 10% utilized against about $400K in credit lines. Other than this One Main thing, nothing bad on her records for 10+ years. Same job for 15 years. Income is just around $190K a year.
She can pay the $2K to OneMain very easy, but fear that would reset the clock for another 7 years. And since it will fall off in about 12 mos and she will probably write both EQ and EX letters in Jan/Feb of next year for early removal, I figure unless someone tells us that she will be looking at AA action from Amex, Cap1, etc, she should just let it go.
We are a bit confused as to why the drop in points on EX. It was already listed as Charged off, but the status today to "Account is deemed as uncollectible by the creditor and written off as "bad debt" or "loss" appears to have done more harm. Any ideas?
Thanks in advance!!!
@merlinflex wrote:Sis reachedout to me this morning b/c she got an alert on MyFico about score change. She logged in and her EX score dropped from 722 to 687 as an old account that I had previously posted about changed status today.
She logged into to see this:
Then we checked her Experian report on Credit Check Total and see an alert as well today and the pull her EX report and see the change as well. Shows two, now, not sure why in the past it ony showed one, the first one with all the info, now looks like a 2nd one is a new account number and just the charge off (I cropped out for Privacy reason, but they are completely different, start, middle and end).
Then we checked her EQ record. This item used to appear on her TU, but years ago she disputed all and TU removed it, but EQ and EX did not.
So told her I would ask the FICO community who knows more than I do.
She is in Texas. SOL is 4 years I believe. This is set to fall off in April 2018. OneMain bought her account (in good standing from CitiFinancial) and at the time she was traveling and unaware and continued to make payments forwarded on that never made it's way to One Main (found this out some time later after damage done). She and I tried to fix between the two, no dice, both blamed each other and pointed fingers and then blamed her for working and traveling abroad and not constantly checking her mail and email about changes coming, etc, etc.
One Main has been an ass to her and Citi has ben better and her Fico scores have been good, even now the drop from 722 to 687, while not optimal is not too too bad. Still in the "good" range. Her TU is 760 and her EQ, even with the above One Main negative charge off, is 733 as of today.
Question, should she expect any AA for her credit card companies? She is currently 10% utilized against about $400K in credit lines. Other than this One Main thing, nothing bad on her records for 10+ years. Same job for 15 years. Income is just around $190K a year.
She can pay the $2K to OneMain very easy, but fear that would reset the clock for another 7 years. And since it will fall off in about 12 mos and she will probably write both EQ and EX letters in Jan/Feb of next year for early removal, I figure unless someone tells us that she will be looking at AA action from Amex, Cap1, etc, she should just let it go.
We are a bit confused as to why the drop in points on EX. It was already listed as Charged off, but the status today to "Account is deemed as uncollectible by the creditor and written off as "bad debt" or "loss" appears to have done more harm. Any ideas?
Thanks in advance!!!
When did she realize the payments weren't being deducted from her account? How long ago did you try to work this out between the creditors?
To be fair, they haven't been paid and 2.5 years went by that they appeared to have been attempting to collect. Not noticing your account hasn't had any payments deducted for that long of a period of time would certainly not be an excuse you would buy, right?
Paying the account will not reset the account. An account is reaged only if you make payments to bring it out of deliquency and the creditor agrees that the account is again in good standing and open. The dofd would not change unless the account was reopened and then fell deliquent again.
If I were her, I would attempt a pay for delete. Given that it is out of SOL, and they feel she won't pay it, it's possible they would take the deal to get the money. I'm not really for not paying invalid debts, but like you said, in about a year it'll drop anyway, so unless she needs credit soon, there's really no reason to take care of it other than good conscience.
@merlinflex wrote:The other issue is now we are wondering if OneMain is going to make the same comments to her EQ CR which as of today is at 733 with that listed as a charge off and if they add the same type of comments and changes it will cause her score to drop?! Seems a given they will do so.
I would expect such, its highly unlikely they would only update 1 CRA and not the others. If its been reporting monthly as a CO on the other 2 CRAs all along its most likely not going to cause a Fico score drop as the drop is already figured in.
@merlinflex wrote:
@gdale6 wrote:
@merlinflex wrote:The other issue is now we are wondering if OneMain is going to make the same comments to her EQ CR which as of today is at 733 with that listed as a charge off and if they add the same type of comments and changes it will cause her score to drop?! Seems a given they will do so.
I would expect such, its highly unlikely they would only update 1 CRA and not the others. If its been reporting monthly as a CO on the other 2 CRAs all along its most likely not going to cause a Fico score drop as the drop is already figured in.
Can you clarify? It only shows up on EQ and EX, not TU. It used to to show up on TU until about 3 years ago when she disputed it with all 3 CRs and TU removed, but the other 2 kept it.
It has been reporting as a CO on both EQ and EX all along, but today on EX that new wording seems to have changed something and caused that drop and now thinking they will do the same with EQ.
Comments are not scored by Fico what it looks for is the last status date and what condition the account is (good standing, charge off, collection, PR, etc) the status date came current when they changed the remarks thats what causes the Fico drop especially if it has not updated in awhile.
@gdale6 wrote:
@merlinflex wrote:
@gdale6 wrote:
@merlinflex wrote:The other issue is now we are wondering if OneMain is going to make the same comments to her EQ CR which as of today is at 733 with that listed as a charge off and if they add the same type of comments and changes it will cause her score to drop?! Seems a given they will do so.
I would expect such, its highly unlikely they would only update 1 CRA and not the others. If its been reporting monthly as a CO on the other 2 CRAs all along its most likely not going to cause a Fico score drop as the drop is already figured in.
Can you clarify? It only shows up on EQ and EX, not TU. It used to to show up on TU until about 3 years ago when she disputed it with all 3 CRs and TU removed, but the other 2 kept it.
It has been reporting as a CO on both EQ and EX all along, but today on EX that new wording seems to have changed something and caused that drop and now thinking they will do the same with EQ.
Comments are not scored by Fico what it looks for is the last status date and what condition the account is (good standing, charge off, collection, PR, etc) the status date came current when they changed the remarks thats what causes the Fico drop especially if it has not updated in awhile.
Thought about that and it looks like now is that there are two accounts, with two different account numbers with the exact amounts and dates!! To me it appears they are purposely doing that to drive her score down in hope that she will contact them to pay it off as they know the SOL has passed and it is nearing the time when it will fall off. And they are using two different OneMain corp addresses to try to throw off Experian systems by making it look like two different accounts when they enter it. And although both have the exact same start date, one falls off in April 2018 and the other falls off in October 2018??? makes no sense unless my assumption is correct in that they are trying to game the system to force her to pony up.
