FP Charge off disputed results jump EQ FICO 37 points.

[slund5499]

Although I have a good sound knowledge of FICO scoring and my personal situation.....I cannot explain this following:

FICO Score Change

634 to 671

up 37 points

Account Information details

FIRST PREMIER

Account Information

Company

FIRST PREMIER

Account number

XXXXXXXXXXXX2595

Opened

1/2010

Description

Consumer disputes this account information Paid charge off Credit Card

Contact Information

FIRST PREMIER
3820 N Louise Ave

Sioux falls, SD 571070145

• Balance
• $0

• Past due
• Not Reported

• Status
• Bad Debt; Placed for collection;

• Last activity
• 08/01/2011

• Description
• Consumer disputes - reinvestigation in progress Consumer disputes this account information Paid charge off Credit Card

What does this mean?

What does this mean?

Account changes

You are receiving this alert because we have detected a change in one of your credit accounts. Every day, we monitor your credit cards, mortgages, auto loans, student loans, home equity loans and lines of credit. We are looking for these types of changes:

• Late payments.For example, you were paying off a credit card on time every month, and then you miss a payment.
• Escalating late payments.For example, you do not send in a payment for two months in a row, so an account that was 30 days late becomes 60 days late.
• An account becoming current.This means you have become "caught up" with payments.
• Collection.An account is sent to a debt collection department or agency because payments have been past due for many months.
• An account is "charged off." A "charge off" is an accounting procedure where the lender reports an uncollectible debt as a loss.
• Other changes in account status.For example, the debt on a "charged off" account is paid, so the account changes to "paid charge off" status.
• Changes in the description of the account.For example, you close a credit card account, so the account changes to "Account closed at consumer's request" status.

How account changes may affect the FICO® score

It is possible that an account change may impact the FICO® Score. Here are a few reasons why:

• The status of the account improved. For example, the status went from "60 days past due" to "currently paid as agreed". An improvement in account status demonstrates an ability to pay as agreed and thus may impact a score.
• The balance on the account decreased. Generally, less debt is better and a person's level of debt on an account will impact a FICO® Score.
• The amount past due on the account is paid off or decreased.This demonstrates a person's ability to meet their financial obligations, which may impact a score.
• The credit limit on the account was raised while the balance stayed the same.Since carrying a balance too close to the credit limit can be a sign of overextension, a higher credit limit may reduce the appearance of overextension.
• The description or history of late payments for this account is revised to be less derogatory. For example, if a late payment on an account was mistakenly reported, correcting this on the credit report may impact a score.

Dispute this change

This disputed has repeatedly processed 14 times since August.

SHould I consider this the best outcome? GW letters have not worked.

Any advice?

[Anonymous]

I would assume that your score jumped while its in dispute it's basically the same as if the account was removed.

It won't stay that way permanent,y and your score will drop down again when they complete their investigation.

As for what to do, I'd suggest you ask in the rebuilding forum because there are very knowledgable posters that monitor that forum.

[slund5499]

I would agree. However, this dispute is complete and this is how it is reporting.

[Anonymous]

---

@slund5499 wrote:

I would agree. However, this dispute is complete and this is how it is reporting.

---

Oh.  Well if all other avenues have been explored let's hope they never change the reporting.  I'd keep up with the GW letters and try to go up in the food chain with First Prenier.  I've read that people with other companies have had their reporting changed after several years of attempts at GW letters.  Sometimes I think it's just a matter of who reads your request and/or what mood they are in at that time.

[slund5499]

I have read as many failures as success with First Premier. I have been up the chain to the CEO. I am wondering if EQ is now interpreting the reporting differently or if they have switch to a new scoring model or maybe I have been re-bucketed into the "jerk that won't give up so give him a break bucket."

I am sure FP is pissed off. I have no less than 30 disputes with the CRA, at least 8 GW letters and numerous phone calls. I am on their radar so they will just not give up to get rid of me.

[Revelate]

Reinvestigation in progress doesn't sound complete.

If it's a legitimate debt, disputing repeatedly is considered frivolous by the CRA's and all bets are off at that point in my opinion.  Honestly it may be worse having a dispute on there than the charge off when it comes to future underwriting.  Keep at the GW letters.

[slund5499]

I believe the investigation is complete. Because if it was not then I would not be able to start another dispute. EX is fighting me on the dispute. TU is still under investigation. It looks like EQ is done with it. Once TU updates then I will just have to wait and see if time changes anything. I will keep up the GW letters and try drafting new ones weekly. Either I am blacklisted with FP or they may eventually give in before the fall off date of Oct 2018.

[Revelate]

---

@slund5499 wrote:

I believe the investigation is complete. Because if it was not then I would not be able to start another dispute. EX is fighting me on the dispute. TU is still under investigation. It looks like EQ is done with it. Once TU updates then I will just have to wait and see if time changes anything. I will keep up the GW letters and try drafting new ones weekly. Either I am blacklisted with FP or they may eventually give in before the fall off date of Oct 2018.

---

Yeah keep at it.  I'm stuck till 12/2017 myself on a Cali state tax lien though I did manage to recently get off a nuisance collection that would've been at 3/2018 heh... one year and 4 months to go before my old derogatories start falling off.

If the line is still reporting that and you saw a non-trivial bump in score, it's doubtful that the CRA sees it as complete.  I'd get the remarks removed personally if it was complete... think they leave them on there in the case there's repeated disputes, none of my disputes have lead to remarks fortunately but I went single shot with them.

Speaking of which, need to go check my EX disputes and see if all those absurd addresses came off, 3 different ones for my place of residence, only one of which is going to actually reach me in the mail heh.

[slund5499]

Bet. I will wait and see what happends over the next week. According to the dispute results page on EQ the dispute is completed. DOn't know how to handle EX. They have me on the frivilous bucket for FP. TU is under manual review for the second time (probably because I have an unpaid CA state tax lien still on the report). I got one of the liens on TU removed and all the liens on EQ and EX removed.

If EQ does not update the dispute results page then I will assume the investigation is complete. The results page shows that the disputed was updated with new information from OC.

I hate to wait 4 years for the FP Charge off to fall off....but if I do....then I do. Whatever damage to FICO scoring is probably over and done with for the moment.

Here is listing from dispute results:

>>> We have researched the credit account # **************** The results are: The disputed information has been verified and/or updated. The date closed has been updated. Additional information has been provided from the original source regarding this item. The last payment date and date of last activity are reporting correctly. If you have any questions..........

This appears to me as a completed dispute. If nothing else, the account is still showing status - charge off. The Date closed has been updated may be the reason for the point jump. It is reporting as a derogatory but closed with zero balance.

Just don't know....but I like the jump in scores. This at least will put me in range for prime account applications

[slund5499]

By the way....I have not been able to get the FICO challenge in my siggy to work. Can you help get it in my siggy? I can change to scoring once it is in place.