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Serious delinquency on fico score

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New Member

Re: Serious delinquency on fico score

You would thing it could but as fall as far as anyone can tell me there isn't an issue. Fico is denying any culpability and the CRAs are saying you have no delinquencies but meanwhile I'm stuck with a bad fico 8 score and a fico 2 score of 800
Message 11 of 33
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Super Contributor

Re: Serious delinquency on fico score

Do you have access to your negative reason statements from a CMS?  I'm curious to hear what they are in order.

Message 12 of 33
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New Member

Re: Serious delinquency on fico score

I'm new to all this, but if a CMS is credit monitoring service, and they use the TU or experian fico score 8 it lists serious delinquency but doesn't give a specific account because there isn't one. The only other negative factor is length of credit history.
Message 13 of 33
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New Visitor

Re: Serious delinquency on fico score

I am having this identical issue. I can clearly see it is tied to my total loss on my GM Financial account, but there is nothing actually negative in the credit report. Experian and TU both show serious delinquincies, but nothing in the actual credit report. I was able to see these flagged as negative on myFICO, but there is nothing in there that should trigger that. If anyone has a solution, I desperately need one. I've been dealing with this for over a year.

Message 14 of 33
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Senior Contributor

Re: Serious delinquency on fico score

IMHO, it is the comments referring to "LOSS" or "EARLY termination."

I would have the lender revise the comments. Find someone in the right department with juice, i.e. supervisor level, and explain to them they were fully compensated, but yet their actions in entering those comments has resulted in legal harm to you by negatively affecting your credit score and ask them to revise them. Hopefully, you will find someone receptive to your issue.

If not, you may have to threaten to procure a consumer rights attorney to redress the injury you are sustaining plus attorney's fees and court costs. If this were to cause you financial harm, e.g. higher rate loan, you would have damages, so you may want to imply you intend to use your credit and this is going to cause you actual legal injury. (Without legal injury, you have no case.)

Last and weakest IMHO, you have the option of a dispute with the CRAs to remove the comment, but that may be tricky depending on the exact language, e.g., OP's said "early termination/insurance loss." Kinda hard to say that is inaccurate, although it is misleading, since he was not at fault and everyone was paid fully. Due to its misleading nature, it should be corrected.

GL2U! Please report back.

There was an insurance loss, but OP wasn't at fault, so I would say its misleading at best. Besides, thats what insurance is for right?










(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated DEC'19.

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? (clean/dirty), Number of accounts open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AoYR-Age of Youngest Revolver (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new accounts, with open loan on record.
If you don't know where you fall, just list whether you have any baddies, your number of open and closed accounts, AoOA, AoYR and whether you have a loan on record.
For utilization questions, list individual and aggregate utilizations, revolving and installment. please.
Message 15 of 33
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New Member

Re: Serious delinquency on fico score

Just as it appeared randomly the delinquency was resolved without anything done on my part. I think this is just an error with fico that sometimes happens and corrects itself over time.
Message 16 of 33
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Senior Contributor

Re: Serious delinquency on fico score

No I don’t think so. Something changed between the data then and now. Are the comments still there or did they change?










(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated DEC'19.

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? (clean/dirty), Number of accounts open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AoYR-Age of Youngest Revolver (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new accounts, with open loan on record.
If you don't know where you fall, just list whether you have any baddies, your number of open and closed accounts, AoOA, AoYR and whether you have a loan on record.
For utilization questions, list individual and aggregate utilizations, revolving and installment. please.
Message 17 of 33
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Established Contributor

Re: Serious delinquency on fico score

@Brian_Earl_Spilner,

Quick ‘side bar’! Is a Open mortgage considered an ‘installment loan’ for purposes of ‘optimized FICO scoring’ or do you need a open, non-mortgage installment loan to get the best score bang for your buck?

Thx








Message 18 of 33
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New Member

Re: Serious delinquency on fico score

Comments are the same. The loan balance is finally 0$ so that's the only thing I can think. Comments remain the same. So I guess the period of time where the balance was present but no payments were the lender wasn't reporting non payment but fico computer models were.
Message 19 of 33
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Senior Contributor

Re: Serious delinquency on fico score

No it makes sense now the account was closed with a balance. When that happens it appears maxed out with a zero credit limit at least for revolvers, so it must be something similar for loans.

I don’t recall you saying anywhere it was closed with a balance.










(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated DEC'19.

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? (clean/dirty), Number of accounts open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AoYR-Age of Youngest Revolver (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new accounts, with open loan on record.
If you don't know where you fall, just list whether you have any baddies, your number of open and closed accounts, AoOA, AoYR and whether you have a loan on record.
For utilization questions, list individual and aggregate utilizations, revolving and installment. please.
Message 20 of 33
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