"Status as of" date for EQ

[Anonymous]

On the EQ report I just bought with FICO standard, it says "Status as of" with a date which is the last reported date by the creditor, which is NOT the status date of the TL.   The one in question was an item I included in my 7/07 BK.   The status date should be July 07, yet this reads "Jan 08" which as you might guess is the last date I disputed this item.

Do I have any recourse to get this status date changed without making it worse?   Scores are TU 687, EX 674 and EQ 647.  I am guessing that EQ is so low because it is calculating the most recent derog date of 3 months (Apr 08 vs. Jan 08) vs. 9 months (Apr 08 vs. BK date Jul 07).

Is this why EQ is so low, and can I do anything about it, other than "wait"?

[Anonymous]

bump.....anyone?

[haulingthescoreup]

OK, I *think* that the status date is directly tied to the status of the account (duh.) If the account is in good standing, the status date is that of the most current payment. If there is a late or something, the status might be something like "current, was 30 days late," and the status date would be the date that the late posted. If you're disputing, then the status is probably "disputed by consumer", so the status date would be when you initiated the dispute.

This whole status date thing is really confusing to everyone, but this is my best educated guess.

It will not bother me a bit to be shot down by those who understand this better!

[Anonymous]

Wow.

Hauling, thanks for the effort.   I appreciate it.

Did not know I was that good that I could stump everyone in these myFICO forums.     How can the "status" question and how much it does or does not affect scoring be THAT hard a question?

Sounds like people have some research to do.  Myself included.

But if anyone else would or could chime in, that would be appreciated.

[Anonymous]

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Boscoe wrote:

Did not know I was that good that I could stump everyone in these myFICO forums.     How can the "status" question and how much it does or does not affect scoring be THAT hard a question?

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You have to remember that the best information we have to go by in getting answers to these questions is what is reported by members based on their own experiences, except when Barry offers up the occasional nugget of wisdom!  Without access to the scoring formula itself, getting a definitive handle on these things is always to be considered a work in progress.  The FICO Forums recently celebrated their first birthday, and in that time, they have come a LONG way towards figuring out lots of the details of the scoring system, or at least, figuring out some tips and tricks to help one use certain aspects of the scoring model to one's advantage.  A definitive explanation of the effect of the "Status" field remains elusive, however.

It's pretty clear that the field affects scoring.  What is not so clear is the precise effect of all the different possible values of that field on all the various types of accounts.

Message Edited by cheddar on 04-03-2008 12:03 PM

[jackg]

Boscoe,

On each CRA's CR each tradeline has an abundance of info., including "Date this itme to be removed from CR." This is the date you should be monitoring.

First determine if it's correct, then watch it closely. I would say that nothing else matters but, we all know that's not true!

Good Luck

[Anonymous]

jackg - I have probably memorized each piece of data on all 3 CRA's, so I know it well.   If you take a look at EQ, you will see that nowhere do they tell us when the negative items go away, like they do with TU and especially EX.

That said, I am not really concerned about when these negative items drop from my report.  I know it is 7 years from DOFD.    What I am concerned with is making sure that the last derogatory date (i.e. last date I paid late or the date I filed bk) is accurate and is the reference point FICO uses to determine how recent my last derog occurred.   The longer period that exists between that date and today's date will make my score steadily rise.

My wife who also filed bk last July already is up over 670 with EX and TU.  Her EQ score however, is only 647.  I suspect it is because the date of her last missed payment as far as EQ is concerned is alot more recent that either TU or EX.

I guess the answer would have to come from EQ to make it clearer.   How can we ensure our reports are accurate when we don't know how EQ and maybe TU determines "date of status"?

[Anonymous]

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@Anonymous wrote:

On the EQ report I just bought with FICO standard, it says "Status as of" with a date which is the last reported date by the creditor, which is NOT the status date of the TL.   The one in question was an item I included in my 7/07 BK.   The status date should be July 07, yet this reads "Jan 08" which as you might guess is the last date I disputed this item.

Do I have any recourse to get this status date changed without making it worse?   Scores are TU 687, EX 674 and EQ 647.  I am guessing that EQ is so low because it is calculating the most recent derog date of 3 months (Apr 08 vs. Jan 08) vs. 9 months (Apr 08 vs. BK date Jul 07).

Is this why EQ is so low, and can I do anything about it, other than "wait"?

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Thanks good info- I learned something here. SS