In a panic! 91 pt drop in TU

[ohjoy]

I was so excited to have it an all new high with TU at 771 and I look at my score today to find a 91 pt drop because a collection was added to my report. Aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaarg!!!!  Otherwise, I have a clean file.

I pull my report and see a $220 collection for a timeshare that was owned by me and my ex-husband. In the divorce, he took ownership and responsibility of the timeshare. I had no idea he was even late. No notices. No nothing.

I'm freaking out, first, because I think that this will trigger some extreme nastiness across my accounts. I want to hit dispute on TransUnion's website but I wanted to check here first to see if that's a good idea or if everything should be in writing. My head is exploding right now. It's been so hard since I've fought a baddie that I don't know where to start.

Also, can I freeze my other reports to avoid having the collection landing there?

...help.

[Jnbmom]

Is that included with your divorce paperwork? I know most try to dispute online to do it quickly. I would suggest disputing through the mail and sending the paperwork proving his was responsible for the debt, send it CRR. It might take longer but they will have the documents.

Unfortunately a freeze won't help the others as they can report.

[ohjoy]

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@Jnbmom wrote:
Is that included with your divorce paperwork? I know most try to dispute online to do it quickly. I would suggest disputing through the mail and sending the paperwork proving his was responsible for the debt, send it CRR. It might take longer but they will have the documents.

Unforbately freeze won't help the others as they can report.

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Yes. I do have court documentation.

[Jnbmom]

Thats good. I would send that with your dispute.

[Anonymous]

Is it a coincidence that my TU score dropped 91 pts too this past August? There was an absolutely false negative remark added to my credit report about a Chapter 13 income payment plan on an open account that I've paid more than double any required monthly payment and paid days before the due date.
Not one late or under paid installment. And now, after I entered a dispute with TU, both TU & Equifax report it as a closed acct, balance owing, and no history of any payments or reportable credit history.
I called the creditor and they have no clue how that horribly derogatory false notation was reported to TU, bec they state they didn't generate it. But a further search perplexed the account rep bec she couldn't find the source of who added it and why it was on my acct. She removed the erroneous notification but it's been 2 months since I reported the dispute and nothing has been put right. So, over 2 years of monthly reports on 2 accts suddenly show no history, or payments, or their current and open, unclosed status.
I had to add another dispute with TU bec the result of their investigation didn't change or correct the false state of information on their report. Even my auto insurance score was greatly depreciated by 100 pts, which put my very necessary search for a vehicle on hold until it is allocated correctly. I shouldn't have to pay more for auto insurance bec of the false information that has gutted my credit scores.
How can I get my rating and credit information back to what it was in July when I was making monthly progress in raising my score? Do I have to obtain a lawyer to sue whoever is responsible?

[DollyLama]

OhJoy, 

    I worked in the financial sector. Never dealt with a timeshare, although numerous circumstances of divorce decrees and responsibilty of both parties. Any joint accounts owed by the parties, regardless that Judge favors he pays and will be responsible for X bill, and Y bill, she will be responsible for A bill and B bill, does not release the obligation with the creditor. 

   The debts were incurred prior to divorce and supercedes the Judge's ruling on obligations. It is always wise on loans, ie, auto, personal, to have paid off immediately, releasing the other party. Mortgages to be refinanced in responsible parties name if home is not sold, releasing the co-applicant. 

[ohjoy]

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@DollyLama wrote:

OhJoy, 

    I worked in the financial sector. Never dealt with a timeshare, although numerous circumstances of divorce decrees and responsibilty of both parties. Any joint accounts owed by the parties, regardless that Judge favors he pays and will be responsible for X bill, and Y bill, she will be responsible for A bill and B bill, does not release the obligation with the creditor. 

   The debts were incurred prior to divorce and supercedes the Judge's ruling on obligations. It is always wise on loans, ie, auto, personal, to have paid off immediately, releasing the other party. Mortgages to be refinanced in responsible parties name if home is not sold, releasing the co-applicant. 

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In the final decree, I was ordered to tender a Quit Claim Deed to the property, relinquishing ownership solely to my ex, which I did. Regardless, how can my credit be affected for something that I am no longer receiving notices on. I have no way of knowing that the payments are late, let alone in default. I guess you're saying that I need a lawyer to handle this matter?

[DollyLama]

I would contact your attorney, you deeded your ownership, but it did not appear to release your obligation with the creditor. Since it was ordered by the judge, you will have to sue your ex for any amounts paid by you that he did not fulfill according to the obligation as recorded in the divorce decree. 

I hope this was the only debt you were at the time a co-applicant with your ex. 

[ohjoy]

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@DollyLama wrote:

I would contact your attorney, you deeded your ownership, but it did not appear to release your obligation with the creditor. Since it was ordered by the judge, you will have to sue your ex for any amounts paid by you that he did not fulfill according to the obligation as recorded in the divorce decree. 

I hope this was the only debt you were at the time a co-applicant with your ex. 

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I wonder why it's only showing $224. Surely that can't be all that he owes, unless he sold it or something. I mean, if that's it, no biggie. But, sheesh. Should I be expecting more on this account? Like, if it's in collections, shouldn't it be showing the entire balance due?

Other than that and some back federal taxes, everything else was in his name so, nothing. I'm SO pissed. He's still angry about the divorce so, I can't really expect any info or cooperation out of him. This sucks. Ahhh, the adventures with this guy never ends. smh

[iv]

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@ohjoy wrote:

In the final decree, I was ordered to tender a Quit Claim Deed to the property, relinquishing ownership solely to my ex, which I did. Regardless, how can my credit be affected for something that I am no longer receiving notices on. I have no way of knowing that the payments are late, let alone in default. I guess you're saying that I need a lawyer to handle this matter?

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As you've just discovered, a Quit Claim Deed doesn't have any effect on loan obligations... but it does give away any rights you would have had in the property.

Since this was a joint account, it's still in both your names until it's refinanced or paid off.

Yes, you need a lawyer - and not the same one that agreed to the Quit Claim instead of a refi!