What's up with Experian?

[kcos194]

Hi Everyone, first time long time here. My credit sucks, which is why I'm here. I think I have a disputable issue with Experian, but I can't be totally sure. Was looking to see if someone else had the same problem: 

I have the free Experian credit report/score monitoring through their website (I don't currently pay a monthly fee for any reports, just this and CK), and I notice the site that it lists my credit usage at 100%. It shows credit used as $2812 out of $500, when I only have a Cap One QS card with a $500 limit. The "My Debt Summary" page shows 1 open card (which is accurate, it should be cap 1), but with a balance of 2812 (which is impossible since cap 1 limit is 500). Balance on my Cap One is currently $89, so that leaves $2,723 which is also the balance of a closed BarclayCard account that is with a law firm, of which I am in a repayment plan with them. Experian is the only site that is counting this in my utilization, CK shows my utilization at 18%, which is where it should be. $89 of 500. On both TU and EQ. 

Now, the weird thing is that Ex also shows my highest score, 604. While I know CK use another model, they show TU 560 and EQ 523. So it's weird that the EX site would show 100% usage, but a technically fair score. I opened a dispute for this, but I'm not sure if this is even disputable, since it seems to be a weird glitch on their end? Or is it actually hurting my score? I can't fathom being over 600 if that usage is actually factored in. 

TL;DR - Experian site is showing a closed account reporting that outstanding balance into my current usage, not sure if it's damaging my score or not. 

If anyone has seen or had experience with this, please let me know, 

Thanks.

[Anonymous]

a closed account with a balance does actually get scored. And your utilization for that account is actually 100%.

So if the account IS yours it isnt really disputable.

"so that leaves $2,723 which is also the balance of a closed BarclayCard account that is with a law firm, of which I am in a repayment plan with them"

Which means 89 + 2723 / 500 = greater than 100% utilization

Also creditKarma in not a Fico score, it is. vantage score, and likely as such does not count closed accounts.

[kcos194]

Thank you, that's good to know, and yes, it is mine. 

However, this still leaves me with a question as to why the debt was sent to a law firm, and why I'm paying them instead of Barclays directly. Wouldn't it show up as a collection? I haven't made a payment yet to this firm, I only entered into an agreement with them last week for a payment due 4/1. I don't know if I should stay with that agreement, or work with Barclays directly.

Any ideas on this?  

Thanks 

[Anonymous]

Anytime you can work with the original Creditor it is much better. However tht being said, they may have sold the debt, or are allowing this lawyer to collect on their behalf. 

[kcos194]

Thanks, I tried calling Barclays but the account is now managed by someone else, a 3rd party who I'm guessing the law firm is working with. It's so weird though. Since I started this thread I paid for all 3 FICO scores and reports, and they're all higher than what I have in my signature. All between 580 and 604. But on one page it'll show my utilization as good at 25%, and on others it will show 100%. Both EX and EQ show it like this, but TU shows it reporting as closed with a 0 balance. If this is really reporting, I feel like I could seriously increase my scores if I can get it taken care of, but just not sure what to believe when I look at the scores. 

[gdale6]

If Barclays has sold that account then they must update the balance to 0, its the law. They have till the next reporting period to do so.

[kcos194]

Thanks gdale, I just called Barclays and the account is with someone called "Track America"(?). The CSR at Barclays couldn't tell me if it was "sold" or not, but I'm assuming it was. So, thereoretically, if they sold this debt then the revolving balance should show as 0 on a closed account and then perhaps this could show up as a collection. Does that sound like it makes sense? I'm just trying to forecast what the impact would be on my scores would be. I still have the dispute pending with EX, waiting to get an update on that. 

I've cleared out 4 collection accounts and gotten my student loan payments back on time in the last month, and have seen my scores get above 580. I don't want a potentially fixable error to screw all that progress up. 

Thanks again for everyone's help.

[sghosh5]

Whoever the account is with, you should ask Pay in full for delete. That is only way to make your scores go up. If you just pay in full to a 0 balance for a collection account it will keep your scores down until it falls off.

[kcos194]

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Spent about 4 hours on the phone regarding this today. Barclays sold it to a company called Track America who then assigned it to a law firm local to me. I guess it's technically a judgement? Either way, neither Track America, nor the law firm report to the CRA's, so that's a minor victory. I'm in a payment plan with them, and the law firm is the intermediary for Barclay's. So as I pay, the balance with Barclays will decrease as if it's a current account and ultimately lowering my utilization. 

I guess I was just misguided in assuming that a closed account with a balance wouldn't factor in to my utilization. I can't pay the full balance right now, but it won't accure interest, so it will be PIF when it's finally zero'd out. I can throw money at it whenever I want, so I'll pay it all off soon, just wish it shows as currently paying on the credit reports. Still odd that I've been able to increase all 3 scores over the last month even with this utilization showing 25% some places and 100% in others. 

Ah well, c'est la vie I guess. 

[beutiful5678]

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@kcos194wrote:

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Spent about 4 hours on the phone regarding this today. Barclays sold it to a company called Track America who then assigned it to a law firm local to me. I guess it's technically a judgement? Either way, neither Track America, nor the law firm report to the CRA's, so that's a minor victory. I'm in a payment plan with them, and the law firm is the intermediary for Barclay's. So as I pay, the balance with Barclays will decrease as if it's a current account and ultimately lowering my utilization.

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In my experience, this is what they do shortly before they sue you and get a judgment. Sounds like you are on the path to getting this taken care of! Congrats!