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Closed account reporting as failure to pay

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
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Closed account reporting as failure to pay

I have a closed account with Navient and was offered a Settlement through a credit collecting agency. After requesting a verification of debt, Navient reported December as a failed to pay after nearly 2 years old not reporting monthly payment which dropped my score 80 points overnight. Is this fair reporting on a closed account or do I have options? I had no way to pay Navient as the account was charged off and sold to another company so I was working with the current creditor.

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New Contributor

Re: Closed account reporting as failure to pay

I had the same thing happen to me on an old charge off.. 


I was using lexington law, and they sent a dispute letter on a repo that I had.. I think the last report date was listed at Jun 2015.


After they received the dispute letter, they validated the debt and slapped a fresh date of Nov. 2018.. Which from what I understand was very legal.. Sucks and had I known, I would have skipped lexington law all together.. 


Just make sure youre following your FICO score and not the credit Karma vantage score. When the account was updated, My Equifax score through Credit Karma dropped 93 points in one day.. I checked my fico score and it didnt move.  


Dont panic too much if it wasnt your FICO score.. 

Last Inquiry 11/8/2018 (QS1 approved $300.00)
Fico Score Progression :
10/1/2018 EQ 530 TU 535 EX 540
12/16/2018 EQ 630 TU 621 EX 636
12/27/2018 EQ 639 TU 628 EX 634
6/6/2016 EQ 626 TU 565 EX 614
In the garden till 1/1/2020
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