how does my specific co effect my utilization?

[johnpalley]

i have a bank of america co from 3 years ago that was never paid. on my equifax credit report through myfico it says my balance is 0. but when i click on details it says largest past balace $3925.00. is this $3925.00 being counted in the utilization or did i get lucky because they listed the balace as 0 and its not effecting my utilization? the reason why im asking is because i just disputed this account and im worried that if the account doesnt get deleted then they might list the balance $3925.00 also after the investigation is complete and then my credit score will be even worse. what do you think?

[fused]

Sounds like this CO is yours? So, why are you disputing it?

[johnpalley]

its a long story. but im trying to figure out how this scoring works. do you know the answers to the questions i asked?

Message Edited by johnpalley on 08-10-2008 10:24 PM

[fused]

First things first, we (mods included) are not allowed to have discussions on disputing accurate information, it violates the myFICO fora credit repair discussion guidelines.

Credit Repair Discussion Guidelines

Now to answer your question. I would use the score simulator on your EQ report to see if this CO is factoring in on your revolving util.

[johnpalley]

im not disputing accurate info. the account im talking about is not on my equifax credit report its on my transunion report which i dont have through myfico.com. Message Edited by johnpalley on 08-10-2008 11:21 PM

Message Edited by johnpalley on 08-10-2008 11:21 PM

[Anonymous]

---

@johnpalley wrote:
i have a bank of america co from 3 years ago that was never paid. on my equifax credit report through myfico it says my balance is 0. but when i click on details it says largest past balace $3925.00. is this $3925.00 being counted in the utilization or did i get lucky because they listed the balace as 0 and its not effecting my utilization? the reason why im asking is because i just disputed this account and im worried that if the account doesnt get deleted then they might list the balance $3925.00 also after the investigation is complete and then my credit score will be even worse. what do you think?

---

Your question is a little confusing to me. What I'm trying to figure out, is, on "myfico", is that just your EQ report, or something? Also, where is it showing $0 balance? Is that in the section for delinquencies, etc., or, is it actually showing on the account summary? Now, it's showing on your TU report with a past due balance, and as a charge off (not collection), it most certainly will be factored into your utilization.

[johnpalley]

ssstevie , sorry for the confusion. it is actually on my equifax credit report through my fico. yes it is showing a 0 balance under account summary but when i click on details it says largest past balace $3925.00 Charged off as bad debt.

Message Edited by johnpalley on 08-11-2008 09:53 AM

[Anonymous]

Largest past balance is irrelevant. Except under very strict manual reviews.

The only thing that counts in this situation is Balance. If it reads $0, you're fine on that account, well, except for the CO status...

[johnpalley]

thanks. thats what i thought. is this a normal procedure to have the balance 0 after the company charges it off?

Message Edited by johnpalley on 08-11-2008 11:13 AM

[Anonymous]

If they CO and show $0 Balance, they most likely sold it to CA.

If they CO and show other than $0 Balance, they are either internally collecting or some such.