This must be a mistake, HELP NOW with score drop

[Anonymous]

Okay This just came up to my equifax score watch through myfico..................it dropped my score 57 points what do I do?!

BRAZO HIGHER EDUC. AUTHORI  (XXXXXXX8981)

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Account opened: 8/2006
Description: Student loan - payment deferred
Principal deferred/Interest payment only


  Previously reported Newly reported Balance: $52,346 $52,346 Past due: $0 $0 Status: Pays account as agreed Pays account as agreed Last activity: 5/1/2009 5/1/2009 Terms duration: 300M Not Reported Description: Student loan
Student loan - payment deferred
Principal deferred/Interest payment only

Contact: BRAZO HIGHER EDUC. AUTHORI, 2600 Washington Ave, Waco, TX, 767107449

How account changes impact your score: The following are reasons why a change to an account can cause your FICO® score to go up. (A change to an account in the opposite direction can cause your score to go down.)

• The status of the account improved. For example, the status went from "60 days past due" to "currently paid as agreed". An improvement in account status demonstrates an ability to pay debts.
• The balance on the account decreased. Generally, less debt is better for your FICO® score.
• The amount past due on the account decreased. This demonstrates your ability to meet your financial obligations.
• The credit limit on the account was raised while the balance stayed the same. Since carrying a balance too close to the credit limit is a sign of a consumer who needs credit and cannot pay it back, a higher credit limit actually helps your FICO® score.
• The history of late payments or description for this account is revised to be less derogatory. For example, if a late payment on your account was mistakenly reported, correcting this on your credit report may help your score.

BRAZO HIGHER EDUC. AUTHORI  (XXXXXXX8981)

Show/Hide Details

Account opened: 8/2006
Description: Student loan - payment deferred
Principal deferred/Interest payment only


  Previously reported Newly reported Balance: $52,346 $52,346 Past due: $0 $0 Status: Pays account as agreed Pays account as agreed Last activity: 5/1/2009 5/1/2009 Terms duration: 300M Not Reported Description: Student loan
Student loan - payment deferred
Principal deferred/Interest payment only

Contact: BRAZO HIGHER EDUC. AUTHORI, 2600 Washington Ave, Waco, TX, 767107449

How account changes impact your score: The following are reasons why a change to an account can cause your FICO® score to go up. (A change to an account in the opposite direction can cause your score to go down.)

• The status of the account improved. For example, the status went from "60 days past due" to "currently paid as agreed". An improvement in account status demonstrates an ability to pay debts.
• The balance on the account decreased. Generally, less debt is better for your FICO® score.
• The amount past due on the account decreased. This demonstrates your ability to meet your financial obligations.
• The credit limit on the account was raised while the balance stayed the same. Since carrying a balance too close to the credit limit is a sign of a consumer who needs credit and cannot pay it back, a higher credit limit actually helps your FICO® score.
• The history of late payments or description for this account is revised to be less derogatory. For example, if a late payment on your account was mistakenly reported, correcting this on your credit report may help your score.

Its related to my student loan through BRAZOS and the only thing I can gather is it says in deferrment but it says paid as agreed. I have been paying it twice a month and its not in deferment!

[Anonymous]

im on the phone with them now if they correct this will I get my points back, all of them?

[Anonymous]

They say that this shouldn't have decreased my score, but its my ONLY alert or change on my credit file! I have made my payment and my balance has gone down, grrrrr! All over it going from student loan in repayment status to DEFERMENT and I was making the payments grrrrrrrr.

[llecs]

Did you pull a new EQ FICO report yet? I know you got the SW alert, but SW is still delivering back-logged scores, or at least for myself anyway. I've pulled my reports about 5-6 times already this month just to make sure the score is where it should be vs. the SW lagged score.

[haulingthescoreup]

Score Watch is infamous for giving junk reasons for score changes. You need to pull a new EQ report (it's discounted, since you have SW) and check for something else. Look for someone reporting a new late payment, etc.

[Anonymous]

I will check my new report, but I am sure nothing should have changed, infact I just paid down all my credit cards. I paid all but one to 0 balance and left a 100 balance on one!

[smallfry]

Save the ten bucks and pull EQ BD.