Recently missed payment under "Understanding your FICO score" is incorrect

[Anonymous]

Hello all,

While going through my TransUnion report under the "Understanding Your Score" tab there is a section that says "Hurting you score". In here it states "Your most recent late payment happened 2 Months ago", this is incorrect, I haven't missed a payment on any account in years. Then when I view my accounts none show a late payment, except from 2006, which that account is closed now.

So my question is how do I find out which account myFICO is referencing? or Since none of my accounts show a late or missed payment then is the mess up through myFICO? Can they tell me which account they are referencing? As I've read on other posts it seems that myFICO has their own program that takes info from TransUnion, etc. and makes the score.

I also checked TransUnion via annualcreditreport.com which showed no late payment since 2006 either.

Any help is much appreciated.

[Anonymous]

I have that exact same problem and I don't know why. The only open TL's I have are two student loans which have never been late. Everything else is charge offs and collections which are 5-6 years old.

[llecs]

Hopefully this answers both posts...

OP, do you have any collections or charged-off accounts reporting? If so, look at the "status" date (or maybe it's the "reported" or even Date of last activity) and see if one of those baddies updated in the month of May (in OP's case since the most recent late referenced is 2 months ago). If so, that's your culprit. Even though the baddie may have occured years ago, if recently updated FICO and lenders alike see it as a newer baddie.

ETA...another way to look is to skim down your Accounts page. Any account that has a red flag next to it could be the bum account.

[Anonymous]

Yes, that's what happened. That kinda sucks though, how am I ever supposed to get my scores up if things like that keep happening?

[llecs]

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@Anonymous wrote:

Yes, that's what happened. That kinda sucks though, how am I ever supposed to get my scores up if things like that keep happening?

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In your case, what is reporting? A charge-off? Collection agency?

[Anonymous]

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@Anonymous wrote:

I have that exact same problem and I don't know why. The only open TL's I have are two student loans which have never been late. Everything else is charge offs and collections which are 5-6 years old.

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If this is your situation, i strongly suggest you get a secured card.  RIght now you really have no history. Student loans by themselves will not get you approved for anything.   I know your not the thread starter but you can search the forums to see which one is the easiest to get and put as much as you can in it to reflect a high limit. 

Also check the statue of limitation of debt collection in your state if you are past it I would PFD whichever colls/Co's that are still reporting monthly this will stop the bleeding.  Right now you will be going nowhere for the next two years if you keep up your current path.

[Anonymous]

I have several of both. My TU score actually went down about 60 points after disputing some things. I think this is because of the updating.

In particular, I have a bank charge off that was reporting as closed in 2008 but after disputing it, there is no close date reported now.

[Anonymous]

Yes I have a secured card. I got a Capital One secured and a Best Buy Rewardzone card this month but neither has started reporting yet.

[llecs]

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@Anonymous wrote:

I have several of both. My TU score actually went down about 60 points after disputing some things. I think this is because of the updating.

In particular, I have a bank charge off that was reporting as closed in 2008 but after disputing it, there is no close date reported now.

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Disputing can lead to undesired consequences, as experienced. Same happened to me in my beginning days. A close date doesn't matter. FICO will still score it as closed if it is a CO or it has a $0 balance.

Common Abbreviations

Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.

What Steps Do I Take - great for learning the repair process.

and Example letters - PFDs, GWs, DVs, etc.

There are better and safer ways to get things removed. Check out the links above.

[Anonymous]

I didn't necessarilly say dispute... the debts are yours disputing can get ya nowhere ... none the less if the co/ca weren't updating before the dispute this will cause them to update as a result of the dispute.  I say check your sol in your state.  You may be past the sol.  You should try the payment for deletion route to get them removed... frivoulous disputes won't help you.  Atleast that way you got a carrot to dangle in from of them.  I personally believe disputing is the easy cop out way and you witness what the results can be.  Atleast this way you don't risk getting your scored whammed like that as a result. 

Capital One should start reporting sooner or later... but rewardzone is that like the customer card to save on future purchases?  If i'm correct that's not a credit card and won't report at all.