32 point DROP in Experian score....

[Anonymous]

I'm sooooo pissed off.  I've been watching my score increase like a hawk, these last few months because I'm in need of a car loan.  Well, I made it to 694, pulled my scores right before thanksgiving.  Applied for a loan on 12/8.  I learned my Experian score had dropped to 662! That's 32 bleepin' pts.  A collection from a bailbondsman appeared on my report between thanksgiving and 12/8.  5 yrs ago I bailed someone out of jail, put my hse up as collateral.  Long story short, I've contacted the colection agy, it was their MISTAKE, they've issued me a letter requesting the deletion from all 3 credit bureaus.  Problem is the collection agy only gets to report to the credit bureaus once per month, they've already don so for Dec.  So this letter is basically useless to me for this month, plus I got hit wit an inquiry.  I'm really bummed!

[Anonymous]

Request an inter-cycle update. I did that with Chase when they messed up and they complied.

[Anonymous]

Who do I request the inter-cycle update with, the three bureaus? I've never heard of it.

Message Edited by caliking on 12-12-2008 08:43 PM

[haulingthescoreup]

When a creditor messes up the reporting, and they are willing to admit it, you very, very politely ask the creditor to re-submit the corrected info.

Last December, Discover updated our balance twice, once for the planned $0 and then again two weeks later with Christmas shopping on it. My scores dropped immediately. (I'm in one of those horribly over-sensitive credit profiles.) I called asking what on earth, as I figured they had changed their reporting cycles. They told me that they'd look into it and get back with me. They never told me what they found out, but three days later they updated the balances back to $0.

They ought to do this, out of simple fairness, but I would be very nice to them both before and after, when asking for this to be done.

[Anonymous]

I filed an online dispute through this website on Thurs. ngt.  I got a new Experian report with the results of the investigation, which said that the collection acct had been deleted.  YAY!  My question now is, is that an instant boost in my score?  Since it was the collection that dragged me down.  I'm asking because I don't want to BUY a new myfico experian report, and it's not updated yet.  The new experian report sent to my email was my experian report from Experian's website.  Not sure if that's diff. from myfico experian.  I don't want to waste my $$ on the new report but I want to see how my score was impacted with the deletion of the collection acct.

[Anonymous]

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@Anonymous wrote:
I filed an online dispute through this website on Thurs. ngt.  I got a new Experian report with the results of the investigation, which said that the collection acct had been deleted.  YAY!  My question now is, is that an instant boost in my score?  Since it was the collection that dragged me down.  I'm asking because I don't want to BUY a new myfico experian report, and it's not updated yet.  The new experian report sent to my email was my experian report from Experian's website.  Not sure if that's diff. from myfico experian.  I don't want to waste my $$ on the new report but I want to see how my score was impacted with the deletion of the collection acct.

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Most definitely. Partially for getting rid of a 'baddie' and partially from getting rid of utilized debt w/o corresponding CL.

Also if it is you only baddie, expect a major jump.  When my last baddie fell off of Efax last month I got a 50+ point jump.

[Anonymous]

Just an update,

I wrote all 3 cb's.  Then on Thursday night I thought to submit an online dispute with Experian.  Did so, then Saturday I received an email from Experian saying that the collection acct had been deleted!!!!! Pulled my Experian report on Sunday night, my score was back to 694!  The collection is now showing up on my Trans union cr.  The dispute I put in USmail should take care of that.

Thanks for your help