Scores Keep Dropping - Will This Work/Help?

[Neblett]

Talked to the FICO people today, and it turns out a collection account that had disappeared from my EQ report suddenly popped back on it.  This is what dropped my score about 30 pts.

NCO is the next PFD letter, once I actually have the funds to eliminate the account - this is wreaking havoc on my score.

But the FICO rep did say something that concerned me.  There is still an error with EQ's reporting of 3 student loan accounts - they are STILL showing as 60 Days Past Due as of April.  This is not accurate.  The past due status has been removed by CSC and Equifax -  confirmed one more time today.  But FICO swears they downloaded data from EQ at the moment they pulled my report.  Who is lying to me?

Anyway, the point is that the FICO rep said that once this error is corrected, it probably won't raise my score at all.  How can that be?  I only have 4 derogatory accounts on my EQ report, and 3 of them are the loan accounts!  If 3/4 of those disappear and report as positive and paying as agreed, why wouldn't that have a positive impact on my score.  Especially if little things can have such a HUGE negative effect?

[Anonymous]

Do you know when CSC and/or EQ removed? I ask because if it were say within the last 24-48 hours, then I might chalk it up to things not being updated at the time FICO pulled. However, if it was fixed on CSC and/or EQ back in April, then that would concern me that FICO isn't pulling current data.

[Neblett]

Over a month ago.

[Anonymous]

Then my guess about the source of the error leads back to FICO.

[Neblett]

Only problem with this theory is that TrueCredit is reporting the Late Pay, too.

But I've seen my EQ and CSC files. The late pay notation just isn't there!

[Anonymous]

Might try calling EQ, but they will probably direct you to CSC. Ask about the late. See if it's still there. If the source of all evil says it ain't there, then it seems FICO might not have pulled the most current info.

[That's not fair. EQ isn't the source of all evil. EX is.]

[Neblett]

Already talked to EQ and CSC numerous times and they have confirmed that the late pays have been removed, and have received my most recent reports in writing, and the late pays just are not there.

I don't know where TC and MyFICO are getting their EQ info, but it's not up-to-date, for some reason.

OH! And here's a kicker. Two positive aspects of my June 15 report disappeared from my FICO ScorePower report, and were replaced by an altogether different single positive aspect that is on July 2. They removed "You have an established credit history" (17 yrs/8 yrs avg age) and "You have many accounts that are in good standing" (8 accounts), and replaced them with "You've limited the use of your revolving credit" (28% - which is twice as high as it should be - some balances haven't posted yet). I demanded that they reconsider restoring the previous positive components to my score formula. It's not fair to remove them, when nothing has changed; in fact, those two components have gotten one month (and several derog accounts deleted) stronger.

But some good news from Target - they are removing all late pay notations as far back as January 2007 as one of the conditions of my payment plan to get current with them, which I have done and more - now my balance is down below 9% utilization, and will be paid to zero in 2 weeks.

[Anonymous]

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@Neblett wrote:
OH! And here's a kicker. Two positive aspects of my June 15 report disappeared from my FICO ScorePower report, and were replaced by an altogether different single positive aspect that is on July 2. They removed "You have an established credit history" (17 yrs/8 yrs avg age) and "You have many accounts that are in good standing" (8 accounts), and replaced them with "You've limited the use of your revolving credit" (28% - which is twice as high as it should be - some balances haven't posted yet). I demanded that they reconsider restoring the previous positive components to my score formula. It's not fair to remove them, when nothing has changed; in fact, those two components have gotten one month (and several derog accounts deleted) stronger.

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Those comments are almost useless. They are obviously pulled from a list of possible generic comments, supposedly generated from a review of the report, and often incorrectly reflect the actual status of the CR items. The comments themselves do not affect the scores. As many, many people have reported (including myself), those comments are often contradictory and most people are better off ignoring them.

In fact, if everyone would stop reading their report comments and stop using the simulators, the average blood pressure around here would drop considerably.

[Neblett]

Today Experian reported my Ford charged off account with a zero balance and status as "Paid, Closed/Charged Off" - and not even a one point bump from yesterday, when it had a $5000 balance and status as "Charge Off/Repossession"?

Should I expect any kind of boost/bump?  Or just be content that it's paid in the larger scheme of things?