perfect payment history removed....what do I do?

Anonymous · ‎01-12-2015

On the same day I received 2 different alerts from Experian website. The first one was due to my credit union reporting my re-fi loan for my car for the first time and I lost one point. The second alert was the original lender reporting that that the loan was paid off satisfactorily and I lost 14 points. I noticed that the original lender's account no longer listed my payment history which was perfect. Is this why I lost 14 points? Is this worth me disputing? What if they don't respond, then this perfect account gets deleted. I really thought that a closed paid account with perfect history would help my score. Please advise.

Anonymous · ‎01-12-2015

@Anonymous wrote:
On the same day I received 2 different alerts from Experian website. The first one was due to my credit union reporting my re-fi loan for my car for the first time and I lost one point. The second alert was the original lender reporting that that the loan was paid off satisfactorily and I lost 14 points. I noticed that the original lender's account no longer listed my payment history which was perfect. Is this why I lost 14 points? Is this worth me disputing? What if they don't respond, then this perfect account gets deleted. I really thought that a closed paid account with perfect history would help my score. Please advise.

I just received my alert from myFico about the original lender reporting the account as paid and the same loss of points since they are both genuine FICO scores. Now that I think about it, I am going to dispute the removing of the payment history. Had I had a late payment it would have remained for 10 years damaging my credit leaving me begging with GW letters. I want and need my 10 years of reporting of perfect payment history. I think that is fair. If they don't respond to my dispute and the account gets deleted I will turn to the CFPB. I know some of you might think they legally don't have to respond. However as a consumer I feel the need to fight because had I been neglecting the account they would have reported the negative activity.

Anonymous · ‎01-12-2015

@Anonymous wrote:
@Anonymous wrote:
On the same day I received 2 different alerts from Experian website. The first one was due to my credit union reporting my re-fi loan for my car for the first time and I lost one point. The second alert was the original lender reporting that that the loan was paid off satisfactorily and I lost 14 points. I noticed that the original lender's account no longer listed my payment history which was perfect. Is this why I lost 14 points? Is this worth me disputing? What if they don't respond, then this perfect account gets deleted. I really thought that a closed paid account with perfect history would help my score. Please advise.
I just received my alert from myFico about the original lender reporting the account as paid and the same loss of points since they are both genuine FICO scores. Now that I think about it, I am going to dispute the removing of the payment history. Had I had a late payment it would have remained for 10 years damaging my credit leaving me begging with GW letters. I want and need my 10 years of reporting of perfect payment history. I think that is fair. If they don't respond to my dispute and the account gets deleted I will turn to the CFPB. I know some of you might think they legally don't have to respond. However as a consumer I feel the need to fight because had I been neglecting the account they would have reported the negative activity.

You can dispute but it won't do any good. Once an account is closed, the creditor has every right to remove it from your reports. While normally closed accounts stay in your report for 10 years, it's totally at the discretion of the reporting creditor. It sucks but it is up to them. Instead of disputing it ith the CRAs you should politely ask the creditor to restore the account on your reports. Sadly you can feel any way you want and thinks it's unfair and maybe it is but fighting it with disputes etc won't change a thing if they don't want to report it.

Anonymous · ‎01-12-2015

@Irish80 I know you are right and I'm basically venting. I'm just pissed they would remove the payment history. Why would they do that! It's like they are penalizing me for getting away from their high interest rate. Does it cost them money to report my payment history? I guess I will just send them a polite email asking them to restore my payment history. The things we go through when we have to rebuild damaged credit!

cashnocredit · ‎01-12-2015

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
On the same day I received 2 different alerts from Experian website. The first one was due to my credit union reporting my re-fi loan for my car for the first time and I lost one point. The second alert was the original lender reporting that that the loan was paid off satisfactorily and I lost 14 points. I noticed that the original lender's account no longer listed my payment history which was perfect. Is this why I lost 14 points? Is this worth me disputing? What if they don't respond, then this perfect account gets deleted. I really thought that a closed paid account with perfect history would help my score. Please advise.
I just received my alert from myFico about the original lender reporting the account as paid and the same loss of points since they are both genuine FICO scores. Now that I think about it, I am going to dispute the removing of the payment history. Had I had a late payment it would have remained for 10 years damaging my credit leaving me begging with GW letters. I want and need my 10 years of reporting of perfect payment history. I think that is fair. If they don't respond to my dispute and the account gets deleted I will turn to the CFPB. I know some of you might think they legally don't have to respond. However as a consumer I feel the need to fight because had I been neglecting the account they would have reported the negative activity.
You can dispute but it won't do any good. Once an account is closed, the creditor has every right to remove it from your reports. While normally closed accounts stay in your report for 10 years, it's totally at the discretion of the reporting creditor. It sucks but it is up to them. Instead of disputing it ith the CRAs you should politely ask the creditor to restore the account on your reports. Sadly you can feel any way you want and thinks it's unfair and maybe it is but fighting it with disputes etc won't change a thing if they don't want to report it.

Information, good, bad or neutral in a credit report can be removed at any time and you can't dispute what isn't there or because something isn't there. You can only dispute what is reported

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k

Anonymous · ‎01-14-2015

Hey everyone I already have some news. I sent an email yesterday to the original creditor and the original creditor responded this morning stating they didn't intend for my payment history to be removed from Experian and will make certain it gets put back. However it looks like it won't do any good! TU now has reported the closed paid in full account and the perfect payment history is there and I lost 21 points!!! FICO I'm guessing penalizes for closed account. Unlike my Experian, the new auto re-fi not showing yet on TU so TU can't be penalizing for a new account. It has to be subtracting points for the account being paid off and closed. I've read other posts where a paid off installment loan resulted in a loss of points. It has now happened to me. I just hate it is such a large number of points. I wonder how long to recover the points?

Anonymous · ‎01-14-2015

Have you gotten your real reports. A score of mid 650 doesn't denote perfect payment history. Maybe there is something you can get removed?

Anonymous · ‎01-14-2015

@Anonymous wrote:
Have you gotten your real reports. A score of mid 650 doesn't denote perfect payment history. Maybe there is something you can get removed?

I think you are thinking I have a perfect payment history on all my accounts. Not true. I wished I did! I have a perfect history only on this particular account which is an auto loan. I had it with an original lender at a high rate and recently refinanced it at a lower rate. The original lender reported it as paid in full and the new lender reported a new loan. When I say perfect payment history I'm referring to the original loan which was paid on time every month from start up to the time I refinanced.