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How do lates show on EXP?


sisflomi
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I wonder if anyone used credit expert and can tell me if any of their accounts with a late payment, or two is showing. Do the late payments even when they are from 5 years ago still put that account in the potentially neg side? I had an installment loan with my cu. I re-afirmed, paid as agreed, they signed off on title 1999 and turned it over to my brother(who was not on the loan, but was helping pay half). CU reported to cr as inc in bk, charge off. I finally got them to change it to not in bk. I thought that would put it over to the good side, but it didnt. It still has the same fall off date and stuff. Just no bk remarks. What does anyone think? Show it still show on bad side of report with only two lates from 1997?

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The first late was 10 1997, second was 3-1998 while I was in bk process. Thats a long time ago, how long does it take to be okay? Any account you have paid, and has a late will be scheduled to come off in the 7 year reporting period?

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it will go to positive status, good accounts stay for 10 years, sometimes when you dispute items for a late pay that was years ago, they will delete the entire thing and it will affect your score big time, you need to weigh the options, sometimes a old account with a late pay is a lot better than no account at all.

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so in time it will go pos?? I think I can make them take the lates off, the oc that is. They signed my title over to my brother who was not on the loan in any way shape or form. They know they have made a big mistake on this account. Also, when exp sent the oc my dispute, the oc pulled a hard on my report. I have only 1 hard on my report for 2003, and had plans of fighting that hard, (its cap 1, i never applied for credit with them). OC says they have the right to pull a hard report when I send in a dispute. Any truth to that?

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<blockquote>Originally posted by sisflomi

so in time it will go pos?? I think I can make them take the lates off, the oc that is. They signed my title over to my brother who was not on the loan in any way shape or form. They know they have made a big mistake on this account. Also, when exp sent the oc my dispute, the oc pulled a hard on my report. I have only 1 hard on my report for 2003, and had plans of fighting that hard, (its cap 1, i never applied for credit with them). OC says they have the right to pull a hard report when I send in a dispute. Any truth to that?

</blockquote>

No, there's no truth to that - they can't pull a hard because you dispute the account information. They should know what they're reporting.

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<blockquote>Originally posted by cookiemnster

No, there's no truth to that - they can't pull a hard because you dispute the account information. They should know what they're reporting. </blockquote>

Thats what I told her. And that I was pretty sure exp would have sent just what was reporting. She made it pretty clear to me that she was in line with all the laws when she pulled my report. I have not had one other creditor pull my report during a dispute. I told her I thought that the only time you can pull a hard is when I applied for credit. She said my account is so messed up that she had no choice. I let her know I am not happy with this, and I am not going to sit on it. She has until next friday to get it off and clear up my cr with exp.

She also told me that they dont report to equ, but the same account is showing on equ as inc bk. How can equ get that on my report if the oc didnt report it to them? I think they are giving me a big line of bull. She also brought up a few names of friends and family memebers, I was like why are they having anything to do with my cr or my accounts at all. Anything I had with them was my ex-hub and myself joint, or myself alone. She said something about me being in with someone on bad checks. I was like lady you have the wrong person and should not be telling me about anyone other than myself. At the end of our talk, she did let me know, that the people I know that bank there, who also have bad credit, have had no problems getting a loan there now. As the cu messed up with them so bad (i think it was like hint hint, they did the same with you) that they get a loan now no matter whats in their credit reports. So, if its true that they would work with me in getting my loan in a year instead of two, I don't want to push too many buttons. But I dont want them doing things and reporting things to my cr that they shouldn't be. Any advice is greatly welcome!!!!

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That is definately a no no pulling your credit report for the purpose of processing a dispute. They could of easily requested for you to forward you copy of the credit report to see the fact of the matter (but that would of been solely up to you). Definately ride them about setting the matter straight; to remove the inquiry.

The problem with the late pay; is when you finish paying an account & close it that freezes the lates showing up. It will remain negative until the tradeline expires in 7 years from the close date.

For future reference; if you have a late; you can reabilitate these accounts if you can keep open for 7 years for the negative remark to expire - then it will revert back to positive reporting. Or if you can accomplish getting thier consideration to remove the lates before then.

Also they have no business discussing other customers with you what so ever. Would be inclinded to write a letter to someone higher up about the intergaty of their employees & specifically mention this lady's name and what she had done. And that you are not happy with her handling of your account.

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You might want to double check that it's not a soft.

I did a GW letter to SACU (a credit union) who very nicely removed 2 30 day lates on a 39 month loan. I did notice that AFTER the update they did a soft pull, apparently to verify the changes-not that I minded. Shouldn't this count as an account review, soft pull? I mean anyone you have an account with can do an account review on your status, this can be bad too when you have a $0 account and filed BK, many creditors will close your account quick!

-Gadgetguy

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This is a hard one to explain; I don't even have all the answers myself on this subject. TransUnion is unknown to me for the most part (have not had a contact rep to walk me through - how they use reason codes there).

Equifax (CSC Rep) - explained that no matter what code is used (the membership number will default what type of hit the pull will be) so they say this is out of the hands of the creditors to affect.

Experian - whom I know the best - uses the reason codes. The problem is not all business are instructed properly on the use & care of choosing which codes they use; nor will they know if what they choose will be hard are soft for the most part.

* I only know a few myself (which are relevent to what I pull for certain type of creditors). For banks extending credit they will use 08 unknown realestate; which is a hard hit. For landlords I will use 29 rental agreement; which is a soft hit. I also use 15 credit check; but honestly don't know if it is a hard or soft hit.

Experian is only an affiliate rep; so I could not pin them down on specifices - but would like to research this further.

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It is a Hard INQ, its at the very top of my report, I am looking at it through Creditexpert, and it now shows up on PG. Creditexpert has two seperate areas, one for hards, an one for softs. Its a hard!!!!!!!!!!!! And my score dropped 3 points after they did the pull. There was no other activity on the report but that. And, I talked to another rep at the bank before I talked to the one that pulled my report. The first rep said it should be what is called a bullseye pull. That is where they only see what they report, nothing else.

[Edit by sisflomi on Saturday, May 3, 2003 @ 03:18 PM]

[Edit by sisflomi on Saturday, May 3, 2003 @ 03:20 PM]

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I just pulled my PG report and I see that Asset did the same thing to me yesterday. I had called them to discuss a payment I had set up with them, and my rep started asking me about why I disputed the account. She pretty much lost it, yelling at me and saying "don't talk to me, just pay your account!", can you believe it??? Anyway, I'm going to call them now because my score has dropped because of their inquiry and I want them to take it off.

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