Charged Off Account Mysteriously Changed Balance

Feb 162011
 

Dear Forum Members,

 

I just got an alert through my Score Watch account, and it was from a charged off Citifinancial account.  The balance supposedly owed was $2,781 through yesterday, but somehow the company changed the balance owed to $1,807.

 

I must be missing something on this.  Are they trying to re-age the account, or did they make a mistake?  I just do not know why they would lower the balance by $974.

Equifax – Down 7 points for inquiry, Up 7 points for new loan

Feb 042011
 

I was surprised I GAINED points for getting a loan. Thoughts?

 

Here’s the short story.

 

Pulled all three scores 1/27/11 and these were the stats

Equifax – 10 inquires (most recent 08/10)

 

Negative

  • Shows no negatives

Positive

  • Mortgage – opened April 08 – paid as agreed
  • Capital One Credit Card – opened July 07 – paid as agreed
    • Limit – $1750
    • Balance owed – $0
  • USBank Credit Card – opened Jan 07 – paid as agreed
    • Limit –  $1750
    • balance owed – less than $100

 

At that time, my score was 712.

I was then approved for a loan by a credit union and my score dropped 7 points for the inquiry. No surprise there. But then the loan posted and I gained those 7 points back. Is it because my mix is better now? I use to only have a mortgage and 2 credit cards (revolving). With the bank loan, I now have an installment. Am I correct?

ready to give up

Sep 012010
 

my scores stink. there is nothing i can do about it except let time pass. i had a tu score of 579. i disputed some info on a charged off cc account. they finished the dispute by putting a balance owed back on it, which dropped my score down to 486. i disputed again to get this corrected, and now my score is only back to 514 after it has been fixed. the credit bureaus and fico are nothing more than a scam to charge banks money to give them info on who they can kill with high interest.

son of a biscuit!

Jan 292010
 

Creative Recovery Concepts is the collection agency.

 

Household Finance is the original creditor.

 

balance owed before dispute – $9538.00

 

balance owed after dispute and DV letter – $20237.00

 

due to drop off – 7/2010

 

Did I ever have a household bank account?  HECK NO!!!

 

This really cheeses me off.  I dispute and they more than double the amount without providing the verification I asked for?  Sad for them, I have a lawyer who likes to eat people like this for breakfast.  I absolutely HATE collection agencies like this.  They are scum.  Wastes of space.  Don’t want to respond…fine.  But to update on a credit report with over 10k more in charges?  Illegal!  Thanks for doing this you guys cause this will be a slam dunk in court.