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Retro Deferment remove 30-day lates?

Feb 242011

My husband had 4 SL accounts that were reported 30 days late to the CBs on 01/31. However, last week he was approved for a deferment on these loans that now dates back to before the time that the loans were 30 days late. When the creditor (AES) updates their reporting with the CBs next month, do you think they’ll remove the 30-day lates? ARe they required to since now, the loans were considered in deferment at that time?

I’m going to wait to see what happens, but I’m trying to prepare myself for the worst case scenario where I have to fight with AES over this.

loan in retro deferment reported as late

February 24, 2011
Posted by jedwan at 3:10 pm
No Responses
Student Loans
30-day-lates, creditor, husband-had, Reporting, the-creditor, these-loans, time, worst

Settlement Proposal

Feb 232011

Hi all,

This is my formal introduction to the myFICO forum, avid lurker but now seeking the same insight, adive and suggestions so many of y’all willingly and kindly offer to others.

I’ve received a “Settlement Proposal” from a collection company.Â For the background I sent them a letter offering a sum amount along with the request that it be considered as payment in full as full satisfaction of the debt.Â Also requesting that any derogatory remarks they’ve reported to the credit reporting agencies be removed.. here is the body of the message from their reply:

” We are pleased to accept the sum of $ . in full satisfaction of the above refrenced account.

Please pay by .

When you are finished paying, this account will be satisfied in full, and, as per your specific request, we will have our reporting of this account deleted with Experian and Trans-Union.”

Even though I specified a request for them to sign and return the letter I sent them what would you believe from this message, would it appear as if there is some deceptive word-play involved? Is there a clause or something that would allow them to continue to attempt to collect any remainding part of the debt … or does this sound on the “up and up” to y’all?

I thank you for your time as well as any response! :smileyhappy:

February 23, 2011
Posted by admin at 9:27 pm
No Responses
Rebuilding Credit
accept-the-sum, background, debt, finished-paying, letter-offering, message, remainding-part, Reporting, some-deceptive, specific, the-background, time

The rest of the year will be strictly CASH/DEBIT for me

Feb 222011

I have paid off all of my reporting CCs (still owe on Bill Me Later account, which doesn’t report) and I am putting my CCs on ice untl 2012.

I was lapsing back into bad habits, having balances on multiple accounts every month. This behavior is part of what led to my bankruptcy seven years ago, the other part was being maxed out on all my CCs.

CAN’T GO BACK THERE. All I have to do to control my CC usage is to think of that nasty trustee degrading me in front a roomful of people.

February 22, 2011
Posted by admin at 8:51 pm
No Responses
Rebuilding Credit
bad-habits, bankruptcy, Reporting

"Current Status" Reporting Incorrectly?

Feb 202011

I have a federal student loan that I consolidated in 2009. In the 3 months prior to the consolidation, I was struggling financiallyÂ so the payments were late.Â In the month directly prior to the consolidation, it was 120 days late, but the account was then paidÂ in full and closed as part of the consolidation.

Currently on my Equifax report, the “current status” reads as “Over 120 Days Past Due.” This is not true because the account is not currently 120 days past due. Currently, the account is paid in full and closed. The “Current Balance” says $0 and the “Amount Past Due” also says $0. Is this reporting technically correct or incorrect (I know that some CR items, which they may feel misleading, are technically correct) and if incorrect, is this current status hurting me? For example, is this account being considered currently past due as a result of this status?

If this is incorrect, how should I correct it? Just contact the lender directly and dispute the current status?

February 20, 2011
Posted by admin at 11:39 pm
No Responses
Rebuilding Credit
account, current-balance, current-status, equifax, payments, Reporting, status-hurting, the-payments

Which is better?

Feb 202011

I currently have an account that has been charged off as bad debt, and is due to fall off my report in July/August of this year.Â If I repay the account in full, or make a payment plan agreement with the creditor, does that mean that the account will stay on my report for an additional 7 years?Â I’m assuming that it’s better to have the account paid off in full and request that they report it as so with the reporting agencies, but is there really a benefit to this in the eyes of creditors who check my report between now and the time it falls off (if it does fall off)?

EQ 639 TU 649

February 20, 2011
Posted by admin at 1:53 pm
No Responses
Rebuilding Credit
account, account-paid, creditor, payment-plan, report, Reporting, the-account, the-creditor, time, time-it-falls, year

Serious Delinquency triggered by Payment Arrangement Code

Feb 082011

My fico score dropped from 725 to 640.Â I contacted fico and was told it caused by the “Paying under partial payment arrangement” clause on one of the account. On the report it also said the account is in serious delinquency and past due.Â I was supprised by this. I then contacted the creditor and TransUnion. They told me the account is never late and in good standing. Just a history on this account, 6 month ago I was offered a reduce interest from 29% to 9% from my credit card but they have to close the account. I was not told that they will report the account “Paying under partial payment arrangement”.Â One of the rep from fico advise me to contact the credit to request them to change the reporting “code”.Â Here are the questions I have:

1. Why the fico reported the account as in serious delinquency and past dueÂ but in fact i never have any late payment and current?

2.Â How do I go about to have the delinquency and past due removed from the fico report. All three report shown I have no late?

3. How do I file a dispute with FICO. FICO told me to file a dispute withÂ the 3 reporting agency. The reporting agency Â told me there is no errors.

I just want to remove the “delinquency” and “past due” from the FICO. Because the account is not delinquen or past due.

Im so depressed now. Many thanks in advance for your advice.

February 8, 2011
Posted by jedwan at 5:38 pm
No Responses
Rebuilding Credit
account, Advice, credit, Credit Card, creditor, delinquency, FICO, from-the-fico, questions, Reporting, then-contacted

what to do about old student loan on report

Feb 032011

Hello All,

First off I’m a newbie so thanks in advance for your patience and wisdom.

Like many others I severly screwed up my credit when i was young (irresponisiblity & bad habits learned from parents). I spent the next 13 years, living within my means (but never paid off my previous debts). Now I’m older, wiser, more succesfull and infinately more responisble, and after recently becoming engaged have felt an urge to try to improve my credit standing.

So i looked up my credit report on annualcreditreport.com. Strange thing is both experian and equifax were unable to return a report for me (i seriously have not taken any credit in the past 8-12 years)… it seems to them all my old misdeads have been cleared up. So now I’ve got the long hard slog of trying to rebuild my credit (that’s a seperate headspinning ordeal).

My transunion report however did come back, with an old student loan from 1997, the same loan was reported to the other agencies but has long ago been dropped from the report. However it’s still on my transunion report. It’s listed as having been updated in 2007… i haven’t made any payments or been contacted about this old loan in at least 10 years. I’m I wrong in thinking this should have been cleared from my report? Should i contact transunion and have them remove this? If so how do I broach the subject?

I’ve also considered offering to make a settlement payment on this, if it would be better for my credit report. Would this have any impact? Considering the account isn’t even on the other agency reports? If i made a settlement payment would that give me a longer credit history on the other services? TU has me as having a 12 year history… on the others I’m a complete unknown. Is it better to settle and old loan or not have it appear on the report at all? What is the best approach for my credit future?

Additionally there is a hard inquiry on my trans union account from a credit collection agency that I’ve never heard from or been contacted by. Can some one run a hard inquiry without your consent? Should I dispute this with the reporting agency?

Would love to hear some input from the forum. I’ve been reading through and have found much incredibly usefull advice.

Thanks in advanced,

Sebasnyc

February 3, 2011
Posted by jedwan at 8:14 am
No Responses
Rebuilding Credit
been-contacted, credit, from-or-been, from-the-forum, from-the-report, more-succesfull, report, Reporting, severly-screwed, transunion

Validate specific late payments?

Jan 282011

Here’s the story.Â I had an HSBC Best Buy CC that I paid in full and closed in August 2008.Â All three reports pulled on January 17, 2011 are accurate in showing it was paid and closed per my request, however they don’t show consistent lates between each CRA.Â Experian and Equifax were pulled direct from the source, however TransUnion was pulled from annualcreditreport.transunion.com if that makes a difference…

Experian only shows a 24 month period (back to Mar 2007) and shows one 30D late on May 2007 and OK’s on all the rest however it states in the Payment Status section “Paid, was past due 60 days”.

Equifax shows an 81-month payment history and shows a 30D late Apr 2008, Aug 2007, Jan 2006, Jun 2005 and a 60D Feb 2006.

TransUnion shows a 48 month period (back to Sep 2006) and shows one 30D late on Dec 2008, Apr 2008, and Aug 2008.Â It does state in the Remark section “Account closed by consumer”Â and “>Maximum delinquency of 60 days in 02/2006<".

So!Â I sent HSBC a GW letter to see if they’d be willing to “remove the adverse late payments being reported” and I got a phone call from a representative calling to make sure I am who I say I am and to verify the account is the right one since it’s been closed for 2+ years.Â She told me that she has consulted with her manager and that they looked into the reporting and saw inconsistencies between each of the three credit reporting agencies.Â I asked if she could provide me with the dates of the late payments and she replied, (yes, I’m quoting) “Since the account has been purged from our system I don’t have access to the account history so I’m not able to provide you with those dates.Â You will have to call each of the credit bureaus to get that information”.Â I then asked, “You’re the reporting creditor, you’re furnishing this information to the credit agencies, but you can’t give me those dates?”.Â She said, “No, I can’t access your account, so therefore I can’t look at the payment history.”

Since it seems as though they can’t give ME the dates of those late payments, let alone much of the history of my closed, “purged” account, can I ask each of the CRA’s to validate specific late payments?Â Or can I only ask them to debt validate the whole account?

January 28, 2011
Posted by admin at 8:57 pm
No Responses
Rebuilding Credit
account, best buy, cra, credit, dates, delinquency, equifax, experian, from-the-source, history, hsbc, late-payments, manager, month-period, payment, payment-history, payment-status, remark, Reporting, show-consistent, since-it-seems, source, status section, the-reporting, transunion

Any Success at Emailing Executives at EQ,EX,TU?

Jan 192011

I have been rebuilding my credit now for about 6 months. I have one last negative on my reports for a student loan from Nelnet.

I have numerous late marks being reported on my credit repoorts by Nelnet. In addition, my Nelnet account still shows a current status of 120+ days past due on my credit reports.

About 5 months ago, I refinanced the student loan to another company. My nelnet account was paid in full and closed. Many of the late marks on my report are for months where I was paying on the loan. I can’t understand how they can report 120+ day lates on several months even though I was paying them.

I have contacted Nelnet by phone asking them to fix the errors they are reporting. The tell me to fax a letter to their credit reporting department. I do that and nothing happens. I have sent them a CMRR letter asking they fix their reporting errors. They do not respond to that request.

I have contacted EX, EQ, and TU by CMRR letter asking that the errors on the Nelnet tradeline be fixed or remove the entire tradeline from my reports. The reponse I get fromÂ EQ, EX, and TU is “we have verified account belongs to you”. So they ignore my request to investigate the errors.

This has been going on for too long. My next step that I can think of is try to send my complaint to an excutive at EX, EQ, and TU agencies demanding that the Nelnet tradeline be removed and explain why. I am not confident that will solve this issue, but not sure what else I can do.

I have searched and it seems it’s not ok to post executive email address for EQ, EX, and TU, but maybe someone can PM me those?

If you have any suggestion that you think would help, by all means do so. Thanks.

January 19, 2011
Posted by jedwan at 4:17 pm
No Responses
Rebuilding Credit
account-belongs, being-reported, credit, credit-repoorts, fixed-or-remove, nelnet, nelnet-account, Reporting, reports, student, their-reporting

Question on sold CA

Jan 142011

IÂ receivedÂ a notice from a new CA today, saying they were assigned the debt from the OC. The debt is still reporting from the old CA. The new CA had my account info correct. After a call to them, they said if I could pay the collections by the date they were set to report for the first time (2/2) they would not report it to the CB’s…has anyone heard of this before? In the same conversation, the collector said the OC still owned the account, and they could not PFD since they did not own it. How could this bite me in the behind? I could manage to pay it by 2/2, and the collection is new enough, i would like it to go away.

Does this sound valid..if you clear up a collection before it reports, itÂ disappears? I have til 2/2 to take care of it, if so.Â

How would I know that they were really the new assigns?

How can I get the old CA to drop the reporting?

Thanks in advance!

January 14, 2011
Posted by admin at 12:52 am
No Responses
Rebuilding Credit
account, collection, collections, collector, from-the-old, new-assigns, Reporting, sound, still-reporting, the-collections

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