HELP! Please explain the current status field on CR

[mymoneynow]

I have searched these forums and read and read and read. I am still confused about the reporting nature of the current status field on my CR. My current status fields are all different with all 3 CRAs. An account that is paid in full will show paid on one report, Current on another, and 30 days late on another.

TU reports one way, EX reports another way, EQ reports yet another way.

Is the current status field affecting Fico scores? Some posts have said yes, some said no.

All three bureaus should be required to report exactly the same- or better yet, just one CRB should be used.

Please help me here!

[llecs]

Look in the "Worst Delinquency" field inside your myFICO reports. That is the field you would want to pay attention to (aside from the actual history).

And yes, each can report differently, but they must report accurately. So, if you were ever late for 30 days, then each CR must report 30 days (assuming CRTP isn't up). If you were late, but only one reports as such, then be thankful.

For example, I was late on an old CapOne in 2002. I was late in April for 30 days and again in June for 90 days. Technically I was late for 60 days in May but the CRAs haven't reported that. TU is reporting 0 lates with "none reported" in the "Worst Delinquency" box, and both EX and EQ are reporting "90 days delinquent" in that box with the 2 lates. If I insist that all 3 CRAs report the same, then I'd have to ask that TU also report the lates because I was late then.

If you were 30 days late, then all three must report 30 days late. Now, don't rock the boat. Be thankful that your late isn't reporting the same on all 3. Take what you can get and repair from there by asking the TL to remove the late off each CR via a GW.

It is said that 30 day lates; impact lessen with time, and generally by 2 yrs. IMO, I'm not fully on board with that, but if your late is older than 2 yrs, the impact is very minor (single digits if harming at all).

Now if you were not late at all, and you can prove it, then I'd dispute.

[Junejer]

I am going to disagree just a bit with how llecs is explaining this current status (uh-oh Mods disagreeing). The current status is just that -- the current status. So, if the account is closed, it is the status at the time of closing, not whether or not you were ever past due. And yes, it makes a huge hill of beans difference what's in that field.

Anyway, if you have heard this song and dance before, feel free to read another post.

I had a mortgage with a company that was reporting my current status as 30 days past due with both EQ and TU, as of 4/2005. EX, surprisingly had it right. The mortgage was sold in 4/2005 and the other company reported that I didn't pay the mortgage that month. **Well, duh, not to you any longer**

Anyway, when I discovered it was in 1/2008, right after I joined these forums and disputed it on both CRAs. The result was a +26 on EQ and a +43 on TU. EQ actually killed the entire TL, whereas TU, surprisingly, just deleted the error.

[haulingthescoreup]

We had an old gas card, back in the pre-internet days. Our paper statements kept disappearing from our mailbox, as we live on a busy highway, and it was truly a PITA to stay on top of things. On top of which, the oil company pulled out of our area, so we said to heck with it, and closed the card. Due to the last statement going AWOL again, our last payment was late.

The status on this account shows as "delinquent", even though it was paid in full. And it's been closed since April 2004, which really makes it maddening. Luckily it's only on EX, not the other two. The late will fall off in April 2011, and then the account will presumably report as clean until April 2014, when it goes poof forever.

If any of us are still alive, sane, and on the forums in April 2011, I'll let you know what happened with my EX score!

Moral of the story: if you ever want to close a CC, be sure that that last payment posts and shows that it was on time before you close, or you'll drag that around with you for the next 7 years. Note: DH's EX score is 809, so it can't be hurting him that badly.

[marty56]

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@haulingthescoreup wrote:
If any of us are still alive, sane, and on the forums in April 2011, I'll let you know what happened with my EX score!

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My luck the Rapture will happen the same day my 120 day late goes to meet it's maker.

I dont think my 800 FICO score will be much use in the Afterlife though.

[haulingthescoreup]

lol, caught up in the rapture with my 90-day.

I don't think that either Anita Baker or the author of Revelations was contemplating this.

[mymoneynow]

OK- DH and I have been painstakingly trying to correct our CRs,(thankful for all the info we have found on these forums), we have been somewhat successful with sending GW letters to late OCs, (still working that plan of attack with a stack of stamps). Also, we have been able correct some blatant mistakes on all 3 CRs.

This status line is eating at me now.....

Two accounts still not reporting correctly- FMC- DH traded vehicle 05/04- TU Status: 30 days late, dola: 05/04 EQ Status: 30 days late- dola: 05/04, EX Status: 30 days late- dola: 05/04 showing 06/04 payment 30 days late. DH did not owe 06/04 payment, vehicle traded 05/04.   All state $0 Balance.

Shouldn't status on all 3 bureau reports be different from how they are reading?

Then the really pain in our side acct:

BOA- TU Statusurchased by another lender, Charge off, EQ Status: Charge off- Description:Transferred or sold, EX Status: Unpaid balance reported as a loss by credit grantor     All state $0 Balance

    This account went to collection back in 2004( unfortunately, we did not know about pay for delete at that time), we paid the collection co.in full. The collection co. never showed up on the CR.

Shouldn't status be different???????? If BOA sold it, how can they report status as unpaid balance...

I had another acct that had previous Status:  Bad debt placed for collection- I paid OC in 2004. Now this month, after sending GW letter, the CC updated status to Pays acct as agreed-  But my EQ score alert stated No Change in fico score

    Why not? The status looks a heck of a lot better now, but no increase at all?

I totally understand these are old-2004, however if they are reporting incorrectly and they change to a positive status, I thought I would receive some kind of increase. I liked the sound of byrdman's jump in score after status line reported correctly- why is this one not doing the same?

[Junejer]

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marty56 wrote:

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@haulingthescoreup wrote:
If any of us are still alive, sane, and on the forums in April 2011, I'll let you know what happened with my EX score!

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My luck the Rapture will happen the same day my 120 day late goes to meet it's maker.

I dont think my 800 FICO score will be much use in the Afterlife though.

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Very funny.  LOL

[RobertEG]

This is my reading on what might have happened.  As for the vehicle you traded (i.e., sold) in 2004, transfer of title could not have been affected without payoff of the current lien on the title, so part of the transaction probably involved payment of the lien by someone as part of the trade-in transaction.  So it then showed a resulting zero account balance, but that does not erase the prior lates.  So that would make sense to me.

As for the CO and collection, the unpaid balance was apparently based on the CO by the OC.  A CO always involves an upaid balance on the OC account.  A CA then picked up the debt, but had no involvement with the prior tax writeoff by by the OC.  You then paid the CA, so the balance would then show zero on the account. 

[RobertEG]

Unfortunately, you wont be able to see a complete description of the standardized and accepted reporting procedures used by the CRAs to accept and process data through postings on this site.

The reason is that the detailed reporting field codes and procedures used are set forth in a copyrighted guide compliled and sold by the Consumer Data IIndustry Assoc., Inc.  To post it on this site would be a copyright viiolation.

You can obtain a copy of the guide for a hefty fee by contacting the Consumer Data Industry Assoc, Inc, and purchasing a copy of :

"Credit Reporting Resources Guide," (c) 2006, CDIA, Inc.