After having paid my Macy's account in full in November, and disputing it with EX for being 6 years old and a paid CO (NYS resident), EX deleted it.
This account was not on my EQ or TU reports.
Today, I check my TU FICO which was 788 and it shows it's now 644. I check to see what happened. Well, Macy's reported it and it's showing no history. It just says "Payment after Charge off/Collection.
| $0 | Payment after charge off/collection |
Seven year payment history [?]
| 0 times |
| 0 times |
| 0 times |
Worst Delinquency [?]
| None Reported |
It's being re-aged.
Now I have two new negative factors affecting my score.
1. You have a serious delinquency (60 days past due or greater) or a derogatory description on your credit report.
2. You recently missed a payment or had a derogatory indicator reported on your credit report.
Your most recent late payment happened
0 months.
My most recent late payment happened "0" months ago!!! Are they kidding?? It's happend 6 years and 2 months ago!
I'm livid. Contacted TU and it's now in dispute. I can't believe this happened. Wondering when it's gonna report to the other CRA's.
Any advice? I was debating contacting Macy's but when I last spoke with them, I got a supervisor who was not helpful at all.
eta: It's also now showing that the account was closed in Dec 2010. This account was closed at the end of 2004, start of 2005.
Starting Score: 600s
The DOFD is October 2004. They closed the account either at the end of 2004, or the start of 2005.
This account was "legally paid in full for settled amount" in 2006.
In October of this year I checked my credit reports from TU, EX, and EQ. Only EX was showing this account. I contacted EX and they told me that "legally paid in full for settled amount" doesn't count. I filed a dispute with EX through letters, calls and filed a complaint with the NYS AGs office. In the middle of the dispute, I contacted Macy's (in November) and paid the $50.00 balance so it shows "paid" instead of 'settled". Not that it makes a difference for NYS reporting laws.
Experian deleted the account.
Pulled my TU report this Monday and low and behold, there's the Macy's account. There's no history, no lates, no comments under worst delinquency, nothing. Just says bad debt/collection, and shows that it was paid after charge off. Also shows that the account was closed 12/10 (this month) which is incorrect.
TU is reading it as if it just happend. They're re-aging it. Now I have a ton of negatives affecting my score.
Haven't received any alerts from Scorewatch for EQ yet, and I subscribe to EX reports/ alerts as well and nothing's changed there either. Just TU (for now).
The account shouldn't be there anymore. Under NYS law, accounts paid that were charged for profit or loss can no longer be reported after 5 years. Whether hey were paid in full, or paid for settled amount doesn't matter.
The CRA's are aware of this law. The issue here is Macy's didn't list the DOFD.
I disputed it directly through TU. Hoping I don't need to go further this time.
eta: but you're correct that this happened when they updated the status. the problem is, they didn't update it correctly.
Just pulled my TU report again. The Macy's account is no longer there. My score went up to 754. Didn't go back up to 788 but I'll take it.
It was never reported to EX or EQ. Or if it was, they realized it was a paid CO from 2004 and didn't place it back on my report. Will still keep an eye out on EQ and EX just in case it somehow shows up yet again.