41 Point Increase - Experian

[Anonymous]

It sounds like it may be time to pull your real credit reports, as monitoring software reports don't always contain all of the information needed to find what is going on.  Once you get hard copy reports in the mail I'd suggest going through those and no doubt you'll find a fairly obvious difference between your EX and now EQ reports verses your TU report.  There's definitely something present on TU that has come off of EX and EQ, IMO.  Perhaps whatever that is will also come off of TU, since things seem to be heading in that direction.  I'm not really understanding the wording of "credit limit increase" when attached to an installment loan.  You said the "increased amount on student loans" which to me sounds like a balance, not a limit.  Changes to installment loan utilization usually do not result in significant score changes.  Definitely not 40 points anyway.  The most someone has seen in general from an installment loan utilization change would be 20 points and that would be crossing the 9% threshold of utilization in one direction or the other.

[Anonymous]

I'm thinking I may need to order the actual reports as well. I've been holding off on doing that until I request my next EE on my last two collections with Experian. 

I don't understand the "credit limit increase" wording either. That's the remark that's on my credit report for an installment loan. This is not a revolving debt, so I can't understand why that remark would be attached to my student loans. 

[Anonymous]

Is your installment loan coded as "installment loan" correctly?  It's not coded as a revolving credit account or something is it? 

The original reported balance on your loan didn't incorrectly increase did it?  Like say on a student loan your original loan amount was for $20,000 and you currently owe $15,000 on it.  When the loan reported recently it didn't say something like you owe $15,000 on a $25,000 high balance right?

None of these things have anything at all to do with a 40 point credit score increase, I'm just trying to understand the wording of that alert you received.

[Anonymous]

It's under the installment loan category on myFICO. 

The account was reporting as "Closed/Paid $0" because of the consolidation I did earlier this year. This month, it's showing as "Open/Pays as agreed-payment deferred". Balance due is $3,500 with $0 as monthly payment amount. 

[Anonymous]

Just realized, this account is on my Equifax and Experian only....not Transunion. 

Here's the full info on the account with US Dept of Education: 

Date Opened - December 2010

Last Activity - June 2017

Status - Open - (Equifax: Pays account as agreed) (Experian: Current account, was 90 days past due)

Balance - $3,505

Worst Delinquency - 90 days November 2015 & December 2012

All remarks are the same as my report that I was given in June except the status was "Closed". 

[Anonymous]

Do you have other accounts with 90+ day late payments?  Other accounts with any late payments (30, 60?).  Since this is a bad (dirty) account, you're better off not having it shown on TU, so that's actually a mini blessing.

[Anonymous]

Unfortunately, yes. I have three other accounts with 90-120 day lates on them ranging from 2012-2015 and are all attached to student loans. My defaulted student loan has the 120 day lates on it. Because they're on student loans, the goodwill letters won't work for me. 

Our lender is pulling credit again in September, so I'd rather not open the dispute process to see if I can get it resolved from there. 

[Anonymous]

I was not aware that GW letters couldn't work for student loans.  I would think it would be something they'd entertain if you were willing to pay them, as would be the case with other installment loan types.

[Anonymous]

Really? I was under the impression that goodwill campaigns are more difficult when dealing with government loans. The defaulted loans were paid back in April through my consolidation. 

[Anonymous]

I've never had any student loans, so I'm definitely not an expert on them.  This is the first time I've heard though of them being more difficult to obtain GW on over other types of credit/installment loans.