Just corrected a 7 yr error that had my "Current Status" as 60 days late. I disputed the info and Equifax called the bank and verified this and took the account completely off my credit report. ( Car Loan) This made my score drop 8 pts.
For 6 yrs the error was on my report and I didn't realize it and I have bought 2 homes and 3 cars since we higher interest rates because of the error.
IS THIS A GAME YOU CAN'T WIN???? Now that I found the error and got it corrected my score goes down 8 pts. Any comments???
Starting Score: TU 630... EQ 630....EX FAKO 637Shouldn't the bank just correct the error of "Current Status" and then left the good account on my credit report? Can the bank put the account bank on my credit report after taking if off by error?
I just called the bank and they said they don't even report to Equifax. So Equifax decided to take a good account that was on my report and completely DELETE it. Is that proper? Can I get them to put it back on? This is a freaking conspiracy. lol
Just found out that not only did the error get taken off of the 60 day late payment but also a Public Record that was posted 7 years ago was taken off and my score still dropped 8 pts. But now my payments are list as "Very Good". But lower score. I am not having fun with this stuff. My goal is to get my report clean and pay off debts and raise score and two negatives come off report today leaving me with only 1 negative...6 years 5 mths ago I had a late payment.
Score dropped from 710 to 702. Not happy.
Ouch. Well, sorta ouch. Even with the temporary score drop, you're better off without the negatives.
But I'm afraid that you have stumbled across something that we warn about here: disputing something on a closed account is a good way to wind up having it gone entirely. And they're under no obligation to reinstate it.
At some point, legislators "forgot" to include in the credit reporting laws that closed accounts MUST stay on for 10 years. They usually do, as a matter of custom, and sometimes they stay on even longer. (Shhh.) But it's very common for credit bureaus to simply delete closed accounts that are disputed for some reason or another, and there's not a thing that we can do about it. And Equifax sometimes drops closed, undisputed accounts far sooner than 10 years. I think it's forums member smallfry that got his length of history killed on EQ in this manner.
Sorry about the points loss. 
It will be better in the long run to have the negatives gone, even if it did shorten your history somewhat. What may well happen is that your scores now begin to rise more quickly without the old negatives dragging you back.
Thanks for the positive outlook. Hopefully the will rise faster now. The bad thing is that it was supposed to fall off the report this month. This is the 12 mth of the 7th year. I am still going to call them back and ask them why they took it off my report.
That makes it worse!
The way it's supposed to work is that the negatives fall off after seven years, but the account itself is supposed to keep going for ten years after it was closed, meaning that its final few years report as clean.
I think that with some derogs, the whole thing goes when the negatives go, because the accounts themselves are negatives. (I believe collections are like this.) But I've had negatives drop off and leave the remaining account. Sounds like someone at EQ might have bungled. 
But again, there's no requirement that they leave the closed accounts on.
