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Offline franksolich

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primitives discuss credit reports
« on: October 02, 2009, 11:02:47 AM »
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x6680554

Oh my.

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OwnedByFerrets  (1000+ posts)      Fri Oct-02-09 11:23 AM
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Credit report help requested

Does anyone have any tips on the how to get ONE bad report removed from your score?

I've been with my card company for 23 yrs and never been late with a payment, but ONE bill got "forgotten" earlier this year and now our score is not in a good place.

Is there any chance they can be persuaded to remove this blemish from my report?

Btw, the bill is up to date and is not late as of today.

Thanks for any assistance.

The primitive from southeastern Nebraska:

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TwilightGardener  (1000+ posts)      Fri Oct-02-09 11:32 AM
Response to Original message
 
1. Are you talking about your FICO score, or the credit bureau scores, or the actual credit report? I don't think you can get it "removed" from your credit report, because it's not an error--if you didn't pay the bill and it got reported as such, then there's not much you can do there, except wait a few years (I think 7 years), or beg the credit card company to strike it. You might want to get a FICO score (you have to pay for that, I believe) which comes with an explanation of how they tally your score, to see if this one late payment is really hurting you, or if it's something else that is hurting your score.

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NYC_SKP  (1000+ posts)        Fri Oct-02-09 11:58 AM
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2. You can ask them to remove the report, then you have to contact all three agencies.

Experian, TransUnion, and Equifax seem to keep old data no matter what happens on the other ends.

I had a collection removed by the collector and the debtor, but I still had to write to each of these three.

Assholes.

So, in your case, you need to try to convince your CC company that you're a good client and that you deserve for them to write a letter of dismissal of the late payment, and then send copies of that around to the Big Three.

You should take your business elsewhere if the CC company is not willing to comply.
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Offline Carl

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Re: primitives discuss credit reports
« Reply #1 on: October 02, 2009, 11:10:21 AM »
Quote
OwnedByFerrets  (1000+ posts)      Fri Oct-02-09 11:23 AM
Original message
 
Credit report help requested

Does anyone have any tips on the how to get ONE bad report removed from your score?

I've been with my card company for 23 yrs and never been late with a payment, but ONE bill got "forgotten" earlier this year and now our score is not in a good place.

Is there any chance they can be persuaded to remove this blemish from my report?

Btw, the bill is up to date and is not late as of today.

Thanks for any assistance.

Anybody from the real world have just one issue as described do horrible damage to their reports.

Honest question...can see a reduction of score but to damage it badly?
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Offline Celtic Rose

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Re: primitives discuss credit reports
« Reply #2 on: October 02, 2009, 12:02:16 PM »
Quote from: Carl on October 02, 2009, 11:10:21 AM
Anybody from the real world have just one issue as described do horrible damage to their reports.

Honest question...can see a reduction of score but to damage it badly?

I was a couple days late with a credit card payment once.  I called the card company as soon as I realized it, and since I had such a clean record, they dismissed all late-fee charges and took it off my record.  One late payment is easy to resolve if you contact the company immediately.  However, I don't see how one late payment would have such a devastating effect on your credit score either. 

I'm going with the adage "DUmmies lie.  All the time, DUmmies lie"
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Offline Carl

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Re: primitives discuss credit reports
« Reply #3 on: October 02, 2009, 12:18:20 PM »
Quote from: Celtic Rose on October 02, 2009, 12:02:16 PM
I was a couple days late with a credit card payment once.  I called the card company as soon as I realized it, and since I had such a clean record, they dismissed all late-fee charges and took it off my record.  One late payment is easy to resolve if you contact the company immediately.  However, I don't see how one late payment would have such a devastating effect on your credit score either. 

I'm going with the adage "DUmmies lie.  All the time, DUmmies lie"

My thoughts exactly but needed confirmation.
As a corollary to the lie adage is the fact that if there is a shred of truth in the midst a thousand pertinent details have been omitted.
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Offline AllosaursRus

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Re: primitives discuss credit reports
« Reply #4 on: October 02, 2009, 12:21:47 PM »
Me thinks said DUmmie is not coming clean on "1" late payment. I've never been late, so have no idea, but one late payment might drop your score a point or two for a month or two, then return to normal. Can't see anything else happening.
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Offline Texacon

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Re: primitives discuss credit reports
« Reply #5 on: October 02, 2009, 12:54:52 PM »
No, one late payment on a card you have had for 23 years  is not going to devastate your credit score.  No way.  There is a whole lot missing from that story.

KC
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Offline GOBUCKS

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Re: primitives discuss credit reports
« Reply #6 on: October 02, 2009, 03:34:58 PM »
I think the DUmmy overlooked telling us about his bankruptcy filing.

That, combined with a late payment, would explain his problem.
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Online jukin

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Re: primitives discuss credit reports
« Reply #7 on: October 02, 2009, 04:03:37 PM »
ZERO bong!
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Offline USA4ME

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Re: primitives discuss credit reports
« Reply #8 on: October 02, 2009, 04:25:44 PM »
Quote from: Carl on October 02, 2009, 11:10:21 AM
Anybody from the real world have just one issue as described do horrible damage to their reports.

Honest question...can see a reduction of score but to damage it badly?

One 30 day late on consumer credit (revolving accounts like a credit card) are not a big deal.  On installment credit (car payment, etc...) it's frowned on a little more, but still not that big of a deal.  You start missing mortgage payments, even one, the stakes increase tremendously.

Of course, it all depends on how much credit you have.  If you've got 5 credit cards and only one has a 30 day late, not a big deal, you've shown you can budget because the other 4 are paid on time just fine.  If, however, you've only got one credit card, then that's different.

.
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Offline BadCat

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Re: primitives discuss credit reports
« Reply #9 on: October 02, 2009, 05:03:46 PM »
It must have been "forgotten" for 90 days or more.
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Offline Carl

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Re: primitives discuss credit reports
« Reply #10 on: October 02, 2009, 06:13:27 PM »
Quote from: BadCat on October 02, 2009, 05:03:46 PM
It must have been "forgotten" for 90 days or more.

That is probably the "one" they mention,the 10 others that are 15-45 days late constantly are the rest of the story.
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Offline DumbAss Tanker

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Re: primitives discuss credit reports
« Reply #11 on: October 02, 2009, 06:41:03 PM »
A single late payment months ago that was over 30 but under 60 days late would barely make the needle quiver on creditworthiness.  There's a lot more to this tale of travail.
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Offline AllosaursRus

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Re: primitives discuss credit reports
« Reply #12 on: October 03, 2009, 01:54:33 AM »
Quote from: DumbAss Tanker on October 02, 2009, 06:41:03 PM
A single late payment months ago that was over 30 but under 60 days late would barely make the needle quiver on creditworthiness.  There's a lot more to this tale of travail.

No doubt! I'm still battling the failure of a printing business right after 9/11. My accounts relied on advertising. It was pretty much the first thing every small business cut after the towel heads decided we didn't need the World Trade Center. Lost my ass but still never declared bankruptcy. it's been tough re-establishing myself but thanx to a hell of a lot of creditors who worked with me, I'm pretty much back on top, had to take 3 jobs, but ya know, there's a lot to be said for the phrase "Git 'Er Done"!

Something I'm sure the Dummies know nothing about!
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