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New and confused about score

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Anonymous
Not applicable

New and confused about score

Hi..I just received my Fico score from my bank and couldn't believe how low it was.  So being confused I went to annualcreditreport.com to see why.  My FICO score is 619!! and that was from what my bank sent me claiming it was from the credit report at Experian.  My husband's is 819!!  what!? After checking out my credit report I was even more confused because on the report there was only 1 "potentially' negative report.  That was from a Medical Bill that was paid after the insurance claim was resolved and BEFORE it went to collection.  I have 33 "neverlate" from all other Credit Cards..etc. I even had a mortgage that I paid off in 2009!  I have no problem getting credit cards or any loan I wanted.  What gives?  I was even told that my report was excellent.  So why the low FICO?

 

I appreciate any help I can get with this.  I did correct some discrepancies.  I couldn't figure out where they got their employment history information from since some of it was wrong Smiley Surprised

Message 1 of 5
4 REPLIES 4
Anonymous
Not applicable

Re: New and confused about score

Do you have high utilization on your CC's?

Message 2 of 5
bichonmom
Senior Contributor

Re: New and confused about score


@Anonymous wrote:

Hi..I just received my Fico score from my bank and couldn't believe how low it was.  So being confused I went to annualcreditreport.com to see why.  My FICO score is 619!! and that was from what my bank sent me claiming it was from the credit report at Experian.  My husband's is 819!!  what!? After checking out my credit report I was even more confused because on the report there was only 1 "potentially' negative report.  That was from a Medical Bill that was paid after the insurance claim was resolved and BEFORE it went to collection.  I have 33 "neverlate" from all other Credit Cards..etc. I even had a mortgage that I paid off in 2009!  I have no problem getting credit cards or any loan I wanted.  What gives?  I was even told that my report was excellent.  So why the low FICO?

 

I appreciate any help I can get with this.  I did correct some discrepancies.  I couldn't figure out where they got their employment history information from since some of it was wrong Smiley Surprised


If this was paid to the OC (original creditor), and they sent it to collections AFTER, then you should contact the OC. You will probably need to show them proof that you paid it, because they wouldn't send a paid bill to collections.

 

I would advise against dealing with the CA (collection agency). I would also advise against disputing with the CRA (in this case, EX), since it will likely come back verified.

 

It sounds like you need to have the OC contact the CA and have it removed from your CR. This can be challenging to say the least.

 

You might also send proof that this was paid to the CA, and tell them to remove it from your CR, but do NOT call them on the phone.

 

If the OC doesn't help, you could try filing a complaint against the OC and CA with the BBB. But you should first try working directly with the OC, and then the CA (via cerified mail only). Then file complaints if you don't get any resolution.

EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 3 of 5
Anonymous
Not applicable

Re: New and confused about score

Thank you for responding.  The letter from the collection agency came after I paid it.  I should have made that clear.  I called the collection agency and told them the the medical bill was already paid so I guess, by that time, they already reported.  To think it was only $69.00 really irked me.  Before this Medical Bill my FICO was 800.  I just can't believe that one potentionally negative report would drive down my FICO score to 619 (EX).  I noticed on the credit report that the negative report  will only be there until May, but in the meantime I got this lousy score.  I have had excellent credit for many years.  The negative report also indicated that the medical bill was paid.  I'm just very upset over my FICO score!  Will my FICO score go up once the neg. report is gone?

 

All my bills get paid on time and paid off every month even the credit cards.  I do not have any debt at all.  Maybe I just don't get this BS.  I feel like I've been severly reprimanded for getting and F on my report card!.

 

L

Message 4 of 5
bichonmom
Senior Contributor

Re: New and confused about score

Once it falls off your CR, it will no longer impact your FICO. If you're waiting for 7 yrs from DOFD, you should know that it *can* stay on there for as long as 7 yrs and 180 days. Don't ask me why; that's the law. They usually come off @ 7 yrs, but legally it can stay on longer.

 

Also, a paid collection is no better on your score than an unpaid one. You'll only know what your score would be without it is to wait for it to come off.

 

 

EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Message 5 of 5
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