FICO SCORE DROPPED 29 POINTS!!!

[vollybal]

Man I tell you I start to line up the good stuff and then something happens. I jsut got a notice that my score dropped 29 points becuase an account that has been closed for over 4 yrs suddenly reported that I was late 3 times at 30day this yuear and 4 times late 60days this year...I contacted the company and they told me that I have to contact the the CR that reported it.  But from their records our account was closed in good standings long ago. The CR was Equifax. I had to waste a power score on this as The score watch did not give enough info to identify the issue. Plus I had to go to the other CRs to check to see if it got reported there. Luckily trans union did not have it on there but experian I was not able to pull a free report from so I might have to bite the bullet on that one and grab it.

Well I went to equifax's site and To do a phone despute and I needed to get a confirmation # to talk to someone so I called them and created a dispute on it.

I am just so frustrated on that as Last month I paid all my credit cards off and trying to get a higher score and DTI for a mortgage and then this happens!!!  ARGH!!!!

Anyways, just curious if anyone has had this happen before and if so how long it took to resolve this and will those points be able to be fully recovered??

Thanxs!!!

[llecs]

So, the lates are from this year or from over 4 yrs ago when you closed it? Sounds bad, but fixable, but seven 30 and 60 day lates should have tanked your score a lot more.

Did you send any letters to this TL like a GW?

If indeed all 29 points came from this, then you'd get all 29 back when removed.

[vollybal]

Well I received the score watch that other accoutns changed the same day so that could be why only 29 as you said it should have tanked more. I did pay off my CCs last month and I am waiting to see the increase on FICO as I think it should be a big increase. I looked at my last report vs. the new one i just pulled and it looks the same with the exceptions that the lates were from 4 yrs ago and the new report are showing them as this year. I did dispute the balance of this account last month and maybe thinking that Equifax transcribed them incorrectly as the pattern of lates are identical. Hopefully they will see that and correct it and give me back all the points that I missed out on. Hopefully it will be a lot more than 29 points as it looks like the CCs reported paid off today so. We will see 

[vollybal]

just to add to the post...I just bought the scores for the others CRs and TU is 614, EX - 658. I believe that the 520 for EQ is going to change dramatically once they correct this issue.

FYI my scores were back in sept:

TU - 560

EQ - 546

EX - 578

These were based on when I went to a Lender to see if i would qualify for a mortgage. NICE CHANGES!!! Hoping to get a little higher to above at least 620 for the middle so mrtgage would be easier to obtain...Wish me luck!

[Junejer]

Sorry this happened. Sounds like the net effect of the tardies and the good stuff you did was -29. Once it's corrected, the big boost should happen. If you are apping for a mortgage soon, I would escalate the dispute with EQ. Let them know that you are apping for a mortgage and that time is of the essence. They will sometimes move faster, armed with that information. At least they used to.

[vollybal]

Ok so this is sooo Frustrating!! I escalated the dispute with EQ and I viewed the results of the dispute as they emailed me today and they came back with the same results! Now I know this is incorrect because we closed this account 4/2006 after it was paid. I have contacted EQ again and they are like a broken record about creating a dispute. The creditor which is Heights Finance out of Peoria, IL is the problem I believe but when I try to contact them they all say that I need to contact there home office. I was able to get a name but this person is not answering the phone. Is there anything I can do to get this corrected as mortgage app is what is at stake here and if the credit app is ran while this crap is incorrectly reporting then I will never get the mortgage.

I am desperate for any other help that anyone can provide.

Thank you in advanced!!!

[CreditAble]

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@vollybal wrote:

 IL is the problem I believe but when I try to contact them they all say that I need to contact there home office. I was able to get a name but this person is not answering the phone. Is there anything I can do to get this corrected as mortgage app is what is at stake here and if the credit app is ran while this crap is incorrectly reporting then I will never get the mortgage.

I am desperate for any other help that anyone can provide.

Thank you in advanced!!!

---

 Have you contacted THESE people? What names and phone numbers do you have? Have you tried the 800 number from  the CONTACT info? The company is owned by a parent company "MidCountry Corp".

 MidCountry_Corp. would be the people I would be calling. 

  First I would read MidCountry's claims on its website especially about ifs vision mission and values. Read the bios of its management team. Pick two execs to contact. Call the phone number and ask to speak personally to either A or B. If asked whose office would you prefer, ask whose office would be most concerned with sloppy financial reporting and other improprieties that might be going on in one of their companies?    

  Explain about the runarounds and people not answering their phones. That is what people do when they have have to hide from a lot of problems. 

  Don't explain too much about your actual problem until you can get someone on the phone who cares about their problem. A finance company behaving like a shady fly by night operation is something the parent company needs to hear about.

 Make your problem their problem and it will get solved quicker. 

 It was the part about not answering the phone that got me.  

Message Edited by CreditAble on 11-04-2008 01:43 AM