account-closed » Mortgage and Insurance

Closed Accounts

Mar 192011

Hi guys, I have a question on closed accounts. I have some on my report that show Pays as agreed, account closed. And then I have others that say Pays as agreed, account closed, but these have late payments showing from years ago. Are these even considered by Fico since they are closed accounts? They are like 6 – 10 years old, but like I said closed. Should I dispute them and have them removed? The only positive thing I see it contributing is length of credit? They definately are not considered in my debt ratio? Any suggestions. Thanks!Â

March 19, 2011
Posted by admin at 5:33 am
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Account closed by credit grantor

Jan 162011

I actually called and ask for the card to be closed but it is showing “account closed by credit grantor”.Â I have tried calling the company but with no success in getting it changed.Â I am still paying on the account and not sure what or how to handle it.Â Any suggestions?Â Does this act like a charge off on the scoring system? Thanks in advance.

January 16, 2011
Posted by admin at 9:07 pm
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should I dispute or leave it alone?

Jan 152011

I had amex card back in 1996-1999. date of last activity was in 99 and it was charged off i paid it in 2002 ish. but on TU report it shows date closed in 2008? isnt the account closed when its paid? Â should i dispute this because its over 7 years old when i paid it? im afraid my score will go down because its the oldest item on my report? it doesnt show up on eq or ex reports just on my TU report.

January 15, 2011
Posted by admin at 1:48 am
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1996-1999-date, account, account-closed, doesnt-show, down-because, last-activity, oldest-item, report, shows-date

Student loan rehabilitation

Dec 272010

I have a small student loan (about 3k) that I didn’t pay for a while back in’ 06/’07. I was contacted by the loan office and was told that if I set up a direct withdrawal for payments, they would remove the negative entries on my credit report. I just pulled my credit and it shows several 120′s from this account. The account actually says “account closed due to transfer or refinance” and “account transfered to another office”. There is a seperate line item with a different but similar company name (and same address and phone number) that lists the current loan as up to date and “OK” for every month since 07.

I know now that I should have gotten a written agreement, but I didn’t know that then. What can I do about this? Anything? or am I screwed for another 4 years until it drops off? I did email the company, but have not received a response.

thanks in advance for the help.

December 27, 2010
Posted by jedwan at 1:44 pm
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Where to start?

Dec 132010

I am a newbie here but you folks have got it going on.Â I have learned so much over the past couple of weeks just reading the threads.Just hoping someone might have some advice for me. Â I am not sure where to start so I will just spill it all out.Â I have been trying for the past year to get my credit score up.Â I did a terrible job of paying my bills 5-6 years ago and have been trying to dig out ever since.Â I won’t bore yall with the details but here is a snap shot of where I stand now.

ExperianÂ Â Â 612

TransunionÂ Â Â 599

EquifaxÂ Â Â 597

Since then I have had a couple accounts deleted that were over the 7 year age limit.Â

I have 6 medical collections I am trying to pay off. (I read somewhere that you can ask to pay the full balance and they may remove them, Is this correct?) How bad are they hurting me?

I have a AMEX that shows account closed by grantor 08/05. I paid the balance on 08/05.Â Is this still hurting me and how bad?

I have an old mortgage that was 30 days late several tiimes back in 2004 (Feb-July)Â Will this come off Feb 2011? The account was last active 07/06. If not Feb. when will it come off?

I had a credit card that I closed myself and paid off but it shows under paymentÂ “profit and loss’Â The first time I was late on it was 08/04,Â how long will it stay on?

I had a spiegel account that I closed and negotiated a settlement……it shows last active as 08/06 but the first time I was late was 09/04.Â When will it come off?

Heres the weird one….A US Bank card that was issued through employment……they withheld my last expense check for 90 days and although I tried to pay it, US Bank charged it off.Â I did finally pay all of it and it shows under payment as “profit and loss paid” It shows last acitve on 05/05 but closed on 12/06 and report on 01/07.

Now thru all this I used some consumer finance companies to pay some bills and have finally paid them off but they show multiple accounts on my report.Â All paid in good standing but on my report it says I have to many.

*Since Feb of 2010 I have not been even close to being late on any payments. My (1)mortgage, (3) car payments, (1) credit card payments have all been on time. (Although my credit card credit limit is $1000.00 and it has a $850.00 balance.

I need some advice as to where to start or if I even have a shot at getting my score higher till these stuff comes off.

Is there a program I need to enroll with to help?

Thanks in advance.

Â This probably needs to be moved to credit rebuilding but I do not know how to move it…..

December 13, 2010
Posted by jedwan at 11:15 pm
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Closed by creditor note: should I try to remove it?

Dec 082010

I have a “account closed by credit grantor’ note on an old account. Â The account was closed about 8 years ago. Â After being late, I had gotten caught up and paid the account off. Â The late payments have aged out and fallen off my credit. Â But, there is still this note on there. Â Is this hurting my credit? Â Should I leave it alone or try to get the note removed. Â

Also, on another account that once showed late payments, there is a note that I dispute the information. Â The late payments have also aged out and disappeared, so essentially it is showing I dispute what appears like a flawless account. Â Should I try to remove this note?

Thanks for any advice, I am trying to get my credit score as high as possible to purchase a business. Â

December 8, 2010
Posted by admin at 3:47 am
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Which way Should I go? Spinning in circles right now…

Oct 042010

OK… still totally confused on the whole credit situation here…. I’m sitting here reviewing my credit reports now.Â I’ve still got the 5 negative accounts to pay off. 14 accounts listed negative. (9 Paid in full or settled).Â

the following are marked potentially negative Closed

(1)Â asset acceptance: Paid. Was a collection Account. (experience). Closed. Payment after charge off Paid collection(transunion)

(2) diversified collection: Paid. Was a collection Account (EX) Closed. Payment after charge off Paid collection (TU)

(3) midland credit mgmt: Paid. Was a collection Account (EX) Closed. Payment after charge off. Paid collection (TU) open Account. Paid collection (EQ) (marked as OK for almost 2 years now on EQ)

(4) national asset recovery: Paid. Was a collection Account (EX) Closed payment after charge off. Paid collection (TU)

(5) national city card: charged off as bad debt. Purchased by another lender (TU) (currently trying to get removed, Should have been removed November last year) open Account Paid collection (EQ) (marked OK for EQ for almost 2 years now)

with these accounts they are all Paid, yet still harming my score. Should I try to send a goodwill letter to have them deleted? or the status changed? or a pfd to pay what Was left after settlement (problem is, I can’t remember which ones were Paid in full and what I settled for)

the following accounts are marked current Closed:(r they hurting me?)

(1) GEMB/JCP: Paid, Was past due. Closed grantor request(EX) pays Account as agreed. Zero balance. Closed by grantor(EQ) Paid or is paying as agreed. Account Closed (TU) (both TU and EQ have 2 years of OK history)

(2) JJ Marshall and assoc: Paid. Was a collection Account (EX)

(3) National City Card: Paid or paying as agreed. Credit card lost. OK history for 2 years (TU)

so there are current Closed accounts are they hurting me since they are Closed? My pot. neg. accounts have all been Closed, Paid in full, or settled… how much are they hurting me? And then there is my just plan negative accounts that I KNOW are killing me, but I’m working on them.

I do not fully understand when to use PFD, GW, and other options that I have.

Also, how do I get all three credit reports to match. EX says I have 15 accounts listed negative, EQ says I have 12, and TU says I have 13. They all say I still have 5 collections open.

I am currently sending PFD’s to the 5 accounts I have now, but do I offer a settlement price, or will they contact me with a settlement offer? can I use PFD if I can only afford to make monthly payments? or only send the letters when i’m sitting on roughly 3 grand and can pay everything in full?? how do I choose a settlement offer? is there a right way to approach this?

would it be better to contact the companies (without PFD) and set up payment plan to gain payment history or wait and pay in full? my accounts due now are with penn credit corp, rjm, aas, afni, and midland. has anyone had any luck getting accounts from these companies deleted? or any advise how to handle them? any help is going to very very very much appreciated

October 4, 2010
Posted by jedwan at 5:31 am
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GW caused Hard Inquiry – Anyone Else?

Sep 032010

It appears that my GW letter sent to a VW Credit (former creditor – account closed) for one 30-day late from 2009 caused them to put a hard inquiry on ALL 3 of my CB reports. Of course, my credit scores all dropped.

Has anyone else experienced this as a result of a GW letter? Any suggestions for how I can get the inquiries removed?

September 3, 2010
Posted by jedwan at 6:22 pm
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Assistance with score for home loan

Aug 122010

Hello,

I am currently working with a lender who has pulled my info and given me some advice to get where I want to be (I want to be 720 so I can go 30yr conventional at 5% down).Â FHA is not an option for me due to my husband owning a home even though it is all only in his name. Â Here is where I am at:

TransUnion: 686 (638 2 months ago so I have already made a lot of progress)

Equifax: 668

Experian: 657

Here are my accounts on my reports (all others are reported as closed paid in full, etc – unfortunately a few 30 day lates with old BofA card)

Sheffield FN: 4200/5500

Chase(1): 2300/2500 (AU only, I do not use this card)

Chase(2): 1900/2100

CITI: 1100/3780 (AU only, I do not use this card)

GEMB/Walmart: 0/400 (AU only, I do not use this card)

First, I realize I just need to pay down Sheffield and Chase(2) – within 45 days I can do that.Â My question is is there any specific way I should do that (ie one first then the other, or does it matter?)

Second, my loan office said to have the two cards removed that have balances where I am only an Authorized User (leave the GEMB as there is no balance).Â I was added to those two cards in 08 and 09 but do not use them, so I called and had myself removed right away (and asked for a letter sent to me stating they did so as well as updating CR).Â I hope that was the right advice.

Third,Â I had a CapOne card (limit of 1050) that was original opened in 5/01.Â This account was paid in good standing and I stupidly closed it in 1/10.Â In 9 yrs there was one late (30 days) and I don’t even know why as I was very good about this.Â My question is, should I see if I can re-open that card? Is that possible?Â Would it hurt or help? And could they do anything about that late?

Fourth, BofA sent me a letter 3 months ago indicating their records were not updated correctly and as a result items that were not late were reported as late.Â As a result they stated they would be updating with the credit bureaus.Â I have checked my report at myFICO each month and no lates have been removed, in fact I went from 2 lates (of 30 days) to 4 lates.Â Additionally although the account was closed in 11/08 it now shows account closed by consumer 07/10.Â I have no idea what they did and what I can do with this.

Any advice on the best way I should go about this is much appreciate.Â I have read through numerous posts on this board and have learned a ton of info for my future.

Thank you.

August 12, 2010
Posted by admin at 11:02 pm
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MYFICO say’s Charge Off from 2005 is Recent LATE Payment.

Aug 032010

Good Day MYFICO.Â

Been a long time since I was around and with patience I’ve almost secededÂ to rebuild my credit.

I have one last account Ive been having issues with for over 2 years now, Its a Checking Account that went in to Overdraft without being paid off.Â

After a couple months of that they Charged it Off

Here are the Dates.

Open: Jan 2004

DOFD: Sept 2004 Â (went in to aÂ negative balance)

Charge Off: Summer of 2005

Account Closed: Spring 2005

Paid OUT Date: FEB 2008

When I checked my CRA’s it list’s FEB 2008 (when Full Payment was made) Â for the Â DOLA, Closed Date, Date Paid Out, and Status OF. SoÂ I called the CRA and they told me it would Fall off my Report in JUNE 2012

Here is the Big Issue I am having. Â

MYFICO SaysÂ Your most recent late paymentÂ happened Â dÂ Â 2 Years, 5 Months agoÂ and is Killing my Scores by 60 Point Loss

QUESTION: Â Â Â Is this Correct that they can report this Charged Off Account that closed in 2005 as a RECENT LATE PAYMENT?>Â

Thank you For your time and May my Best Wish’s go out to everyone.

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August 3, 2010
Posted by admin at 1:42 pm
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