Disputed on TU & EX - EQ drops 20 pts!

[WorkingOnIt]

Okay, first understand we are talking FAKOs here and I am trying to figure out a change I know of via Truecredit. I know I need to get a copy of EQs official report to fully verify changes.

A few days ago, I disputed a paid chargeoff with both TU and EX (online dispute - I claimed "creditor agreed to remove account"). Experian came back with an "updated" verification and the TL remains. TU has not yet responded. However, today my EQ FAKO took a 20 pt DUMP! The only change I can see is that the TL (on Truecredit) reads "Reported: 4/2007."

Does anyone know what this date indicates? I guess I just assumed it was the last time that the TL furnished an update to the CRA. Should this date make a difference on the impact of the score?

This account is states "Derogatory" in the Account Status field while TU and EX read "Closed (Paid)."

[MadinKS]

Does anyone know what this date indicates? I guess I just assumed it was the last time that the TL furnished an update to the CRA. Should this date make a difference on the impact of the score?

As far as I know that is the last time it was reported, it should have nothing to do with SOL or the 7 yr clock. I don't see why it would tank your score. Are you sure that's the only change? Did the EQ dispute on that conclude? It may be that it was updated but you haven't received notification because they're waiting for other disputes to finish before sending the full results. Only thing I can make of it. The CR pros are probably out partying and will check in later. Good luck.

[WorkingOnIt]

Thanks Mad. I pulled my report via EQ this evening and it shows 2 inquiries. One is from a Home Depot card application last week and the other was apparently pulled when I opened a Citibank online savings account. Why the heck do they need to do a credit pull for a savings account??!!

Anyway, I still only have 2 inquiries TOTAL on EQ. I don't know how these could equate to a 20 point drop? Maybe just because it's FAKO?

[answer2prayer]

The only change I can see is that the TL (on Truecredit) reads "Reported: 4/2007."

This account is states "Derogatory" in the Account Status field while TU and EX read "Closed (Paid)."

Ahntara posted this on

4/20/07

"The new 'Date Last Reported' on a defaulted account is what lowers your score by

making the TL appear recent to the scoring software."

WorkingOnIt: Out of curiosity, what was in the "Date Reported" before you disputed? and

What did it read in the "Account Status" before you disputed?

[momof5]

I had a similar occurrance....I disputed a collection account. When it came back verified with a new report date, it cost me 20 pts.

[WorkingOnIt]

WorkingOnIt: Out of curiosity, what was in the "Date Reported" before you disputed? and

What did it read in the "Account Status" before you disputed?

I guess I'm not sure. I can't access an old file on TC and Mycreditkeeper doesn't show this. With TU and EX, both show a "Reported" date of 9/2005. I believe it was the same for EQ. My official EQ report (from EQ) does show the correct DOFD (9/2004) along with the "Reported" date of 4/2007.

EQ is the only one I didn't dispute! The other two, even after verifying, didn't change the "Reported" date! I'm considering calling EQ to ask them why. Is this a dirty trick by the CC company?

[WorkingOnIt]

I called EQ. I explained the situation to the CSR and her first reaction was of surprise, asking "so this account was being reported before April, 2007?!" When I answered that "Yes, I monitor my credit daily and have reports from multiple sources, including EQ that show it reporting since 2003.", she quickly changed her tone to telling me that it must be a problem with the scoring models of my monitoring service.

Of course, this may be true. It could be TC and Mycreditkeeper's scoring models that are incorrect. And I would have believed her 100% had she not acted so surprised that this wasn't a new account that began reporting as of April, 2007.

So, this obviously isn't reaging the DOFD but, I'm not sure what gives. Any comments?

[answer2prayer]

maybe it's better to not say we're using monitoring services and just say "I have an earlier copy of my report"...of course everyone should have a copy of their report either hard copy or one from internet....!?!

[Ahntara]

Nothing is amiss. The updating of a disputed/verified TL is normal, customary and typical. It doesn't HAVE to happen, but usually does.

You said, "Investigate". They did and reported back their findings. Of course...they updated the TL to show the most recent data.

This is why we suggest not to pay CA's. Paying generally results in an update to reflect the zero balance. The recent reporting date on a defaulted account causes the TL to appear recent to the scoring software. This hits your score in the History category which factors as (up to) 35% of the total number.

"...problem with the scoring models..."

I'll say. But, she's an idiot. This is typical.

[WorkingOnIt]

I didn't dispute this TL (or any other) with EQ. I paid this CO years ago...and my score did go up as a result.

[answer2prayer]

I didn't dispute this TL (or any other) with EQ. I paid this CO years ago...and my score did go up as a result.

don't know for sure...but could be that when you disputed with TU and EX and they sent disputes to the CA the CA just automatically reported back to all 3 CRAs which would have included EQ even though they hadn't received anything from EQ ??

[WorkingOnIt]

That's what I'm assuming...a preemptive strike. I just don't understand why it would affect my score.

[Ahntara]

For defaulted accounts; any (number of fields) and a recent 'Date Last Reported' cause the derog to appear new to scoring programs. So, anything that causes a defaulted account to get updated will impact your score.