Date of Status

[1gr8deal]

If you have an account with a "status"  that is negative. Like in my case an account IIB and the creditor keeps updating the account on a monthly basis:

Wfds/Wds

Dec, 2011        Date of Status

Sep, 2005        Date Opened

Aug, 2007  Date of Last Activity

XXXXXXXXxxxx

Unknown

Individual

Auto Financing

Descriptions [?]

• Consumer disputes after resolution
• Bankruptcy chapter 7

No contact information provided by Equifax

Balance [?] Current Status [?]

$0	Included in Bankruptcy

Seven year payment history [?]30 days late60 days late90+ days late

0 times

0 times

0 times

Worst Delinquency [?]

None Reported

The Worst Delinquency reports the worst missed payment status that has been documented on this account. Your FICO® score evaluates how recently that missed payment occurred and in general, the more recent, the more impact it has on your score. However, the fact that it occurred is s

In this case is that fact that the reported Status IIB has a  Status Date of Dec 2011 causing this to lower my FICO score?

The BK happened 3 yrs ago. I was discharged October 2008. Shouldn't the Status Date be the didcharge date? The report from myFICO is the only report that shows a Date of Status. When I get a report from EQ it is listed as the last date reported.  

If this is indeed causing me a problem how would I go about fixing it. I have a letter from the creditor stating that they were reporting the account with errors and that they would contact the credit bureaus to fix it. That letter was dated Oct. 2011.    

Thank you for your help.

[arrow]

I would dispute the validity of the dates in question with the credit bureaus.  That's your course of action for any disputes or inconsistencies on your credit file.  You can file a dispute online with the credit bureaus or print a form online.  I believe one or two of them require that you have a current copy of your credit report.

Hope this helps.

[llecs]

OP, did you do anything to this TL that could have resulted in a December update? Dispute? Send any letter to this lender? Call?

ETA...Date of Status refers to when they (the OC or CA) last updated or reviewed the TL.

[RobertEG]

The term "Date of Status" is meaningless unless it tells you what status it is referring to and if and how whatever status is being referenced has changed in any manner. It does not say anything was updated, only that it was reported. Credtiors can re-report the same status forever without any change. It probably just means that they reported something for some reason in 12/2011, and within that reporting provided some status date. The current status is designated with a ?, so is not specifically provided in the CR. However, the account is listed under "Description" as discharge after BK, which is what the current status should be reporting. Nothing indicates that the current status prior to 12/2011 was anything different. The report shows the status as discharged under BK, and the current debt balance as $0, as it should be. That kinda says it all. I see nothing inaccurately reported.

[1gr8deal]

No, I have done nothing as far as this account is concerned in the month of December. I did dispute it earlier in the year though.

So, RobertEG you think that even though the Status is IIB and the Status Date is 12/2011 there is no effect on my score. If that is the case I will not  concern  myself with this, I have 3 Cap 1 accounts that are doing the same thing. They update every month and I was concerned that these updates were somehow  keeping these negative accounts more recent..

Trying to rebuild credit after BK is a bit tricky sometimes. When I look at my reports here at myFico they are reported differently then they are from the CRA so somettimes I find it confusing. MyFico reports that I have 2 collection accounts  that are affecting my score  but these 2 accounts were  included in the BK 3 years ago. The collection accounts are also being updated even though they show a 0 balance and IIB, I wasn't sure if the updating was why they were affecting my score or not.  Is it normal for collection accounts to keep affecting the score ths lomg after BK discharge?

Thank you all for your insight, I learn so much here!

[Booner72]

Nissan/Infiniti has continued to update, every single month, my IIB truck from a 2005 BK.

I've watched my   I've watched my scores for enough months to know it doesn't matter.  NEXT MONTH IT WILL BE GONE BABY!!  My last IIB acct.

[Xarquinn]

I am having the same problem.  The "Status as of" date for my Capital One account is continually updating.  My TU score one year after BK7 was 670 now it is stuck at 595 - 608 due to the continual updating.  

I spoke to a rep from TU and he claims it to be correct.  When i mention the FICO score impact, he claims only to support their own FAKO score not scores obtained through providers other than Transunion.  In the "understanding your score section" of myfico, it lists: Your most recent late payment happened 1 month ago so i know it is having an impact.  Tried applying for a Barclay card - rejected and they supplied a FICO score of 608 matching the myfico score.  Planning on disputing.

[RobertEG]

Again, what is the "Current Status?"  Not any other status.  Date of a "status" is unspecific.

The current status on an account showing $0 balance indicates the credtior's statement of the current snapshot status of the debt.

A current balance of $0 does not tell you that.

A current balance of $0 could indicate four things.  The debt was discharged by payment in full, the debt was discharged by payment of less than the full amount,the debt was discharged by a BK, or the debt still exists but was sold, and is thus no longer due to the party reporting.

If the debt was discharged by either payment in full or in part, the current status will read the same.  Paid.  That means the creditor accepted whatever amount was paid as fulfilling the debt due to them.  If paid for less, that is recorded separately under a special comment code.

If the debt was discharged by BK, the current status should reflect that.

If the debt was not discharged, but sold, the last delinquency status should remain as the current status, and the current balance will read $0.

I cant think of an update of any other OC status code on a paid or sold acct that would directly affect scoring unless it is an update of a derog to a higher status (meaning the acct is not paid or closed), or the addition of a special comment to reflect paid for less than the full amount. 

Also, except for paid for less, which is not even a current status code, FICO does not directly score current status of debt, but rather the derogs that occur along the way.  So I dont see all the concern about the account status as it relates to scoring.  It goes to the accuracy of your credit file rather than scoring.  It is important to have the current status updated, as it tells those reading your CR whether or not the OC has reported discharge of the debt.

[Xarquinn]

Status as of    Dec, 2011

Date opened    Jan, 2002

Date of last activity    Sep, 2009

Date closed    Feb, 2010

Loan type    Credit Card

Credit limit    $10,000

Largest past balance    $10,130

Account Type    Revolving Account

Account holder    Individual Account

Industry  Banks

Descriptions [?]

• Chapter 7 bankruptcy

Balance Current Status

$0

Unrated

The Dec 2011 date has to be causing my low TU score of 608.  The scoring model must be using this date as the date this acct was IIB even though the BK is correctly listed in the public records section (Filed Dec 2009, discharged Apr 2010).  I had no missed payments since discharge yet this is listed in the What's hurting your score: "Your most recent late payment happened 1 Month ago".  Also in the letter i received from Barclay's explaining my rejection includes this reason:  "Time since delinquency is too recent or unknown"