Confused about collection as reported on Experian vs TransUnion and FICO8 vs Mortgage scores

[Anonymous]

Hello FICO wizards,

I have a collection with Verizon Wireless form 2014 that I settled last November to a collection agency.  The CA (EOS CCA) had reported it to TU and EX by the time I realized what was happening.  I thought I had closed this cell phone account with Verzion in 2013, but apparently I didn't and I don't have any records to back my statement up.

Fast forward one year, and I'm looking to get in a posotion to buy a house in 2019.  So I got myFICO mortgage scores and now I'm super confused.  EQ5 says I have an 802 - the collection was never reported to them so that makes sense.  TU says my FICO4 is 672, but EX says my FICO2 is a wopping 803.  My main question is why is my FICO2 over 800 with a collection?  For the classic scores: EQ8 is 802, TU8 is 689, EX8 is 681.

Theres a few other differences in whats reported in terms of AAoA, etc. but nothing that should have FICO2 vs FICO4 be different by >100 points, as far as I undertand it.

The only majorthing that's different, is what each type of report I can get says about this collection.  According to CreditKarma, the collection agency keeps reporting the account to TU (most recent Nov 2nd of this year).  Depending on what I look at from Experian, it says the account was last reported on either 11/1/2017 or 11/24/2017 (I settled on 11/24/2017).  Also, what the remarks are in each case are different.  Here's the highlights:

• CreditKarma as of 11/13/2018: Account type: Collection; Status: Closed; Status Updated 11/2/2018; Comments: Account information disputed by customer, meets FCRA requirements
• Experian Annual Credit Report as of 11/13/2018: Account type: ? Status: Account paid in full for less than the full balance.   Status updated: 11/24/2017; Comments: Account information disputed by customer (Meets requirement of the Fair Credit Reporting Act).  On record until: 7/2021
• Experian CreditWorks app as of 11/20/2018: Account type: Other - collection department / agency / attorney; Status: Legally paid in full for less than the full balance; Status updated: 11/1/2017; Comments: Account in dispute-reported by subscriber.

Am I extremely lucky with a miss-classifiaction from Experian for my FICO2 only, when they get it right with FICO8?  Is this account in some weird limbo state?  Will it just correct one day and my FICO2 score will drop 120 points?  Any other thoughts on this situation or other actions I could consider taking to maintain this awesome FICO2 score?

Thanks

[Anonymous]

If they did settle with you, I would think you could get them to remove the collection. As far as the 100 point difference, I think it is partially the collection, but more likely other mitigating factors also, inquiries, etc

[Edit] I have also read that the mortgage fico scores rely on different factors than fico 8. Like for instance, AZEO has been said to have more of an effect on mortgage fico than classic fico

[Pikaboo-icu]

Whatever the reason for the score issue; I would "good-will letter" the pajeeze outta those people.

I mean, write one a week and schmooze them into removing it.. If that doesn't work beg, plead (just kidding) but I would keep writing until they agreed to take it off just to get rid of me.

Good Luck! 

[Anonymous]

I'm not seeing great results from others talking about EOS CCA recently on the forums, but I guess its worth trying a GW letter campaign.  This is my only negative mark, so it'd be amazing to get rid of it without having to wait 3 more years.  Thanks for the replies.

[RonM21]

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@Anonymous wrote:

I'm not seeing great results from others talking about EOS CCA recently on the forums, but I guess its worth trying a GW letter campaign.  This is my only negative mark, so it'd be amazing to get rid of it without having to wait 3 more years.  Thanks for the replies.

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Welcome fernper! To me it's always worth a shot at the GW, and sometimes over and over.  When I began fixing my credit, I had several collections on my report.  I got them all removed....a couple on the first try just by calling or writing, and another by asking several times.  Getting negatives off the reports early is a huge positive towards getting closer to a clean report!

[DollyLama]

If you have an open dispute, often times they will not factor in the account or collection in your case and not representative of your real score, until the dispute is officially been investigated from the creditor/CA end. 

[Anonymous]

I definitely did complain on the phone when I settled a year ago that I thought I had closed the account but I did not have a record of the final end of my account. So I wanted to settle and Mark it as paid and get it out of my life. I didn't get a letter confirming that, but I have a transaction number, date, and name of person I spoke to.

It is weird that one way Experian defines it days that it is "in dispute" but the other one says it "was disputed". But they all say closed and paid in full. Experian FICO8 certainly thinks it's a major factor in my score; only FICO2 thinks it's no big deal. This is one of the things that bothers me - the reported information I see is different everywhere, even for the same CRA.

I don't have any information from anyone saying a dispute is open, and they all have my current address. Can you even have a dispute open for over a year? That's the last time I spoke to anyone wrt this account.

Thanks