[jlynn]

I think Experian has a new game, just want you guys to keep an eye out on it, and not let it fool you.

My neighbor has had some rough times. Hubby's ex-wife stole his identity and they have struggled with that for many years, and then recently has been laid off for several months. He has just started back to work, so she pulled there reports - she wants to get serious about cleaning some things up.

Here is what stood out on Experian:

She had a JDB reporting as an Account in Good Standing! Everything looks "good" at first glance, no late payment history, etc, no nasties in the remarks section, it just says Paid and Closed, etc., but two things stood out.

1. Type - Collection We all know a collection can never be a positive. My neighbor does not want to spend the funds to order her scores right now, but I suspect, that once FICO picks up the "Type", it will reflect negatively on the score. Now how many unsuspecting consumers will not realize they have a negative being calculated, that's showing as a positive?

2. Scheduled Date of Removal Rat Bastages have it as 10 years from what looks to be the date it was paid. That is normal for a "positive" account. But now think about it, even though Experian is once again starting to report a removal date, the date being reported makes the Collection appear as if it only occurred LAST YEAR.

There is good indication this was a cc at some point, because of the OC listed. JDB reports a date opened in late 2000, which tells me, the DOFD was early 2000, and is actually probably obsolete. The OC is not appearing in the negative section of her report.

So, technically they are allowing a Collection account to report for 13 years!

Pay close attention to your Accounts in Good Standing Section of Experian kiddies.

[Pale Rider]

Asset loves to report in the "regular account" section. I never noticed if they were reported the same on all 3, but I do remember them not being grouped with the other collection accounts.

[jlynn]

Originally Posted by Pale Rider

Asset loves to report in the "regular account" section. I never noticed if they were reported the same on all 3, but I do remember them not being grouped with the other collection accounts.

Collections are grouped on EQ only - saw an example of that on her report as well. I think that is why Asswipe and others report as Factoring Company. They can avoid reporting a DOFD (required on collections if you have any on an EQ report you can see), as well as they avoid reporting the OC. In my friend's case, since there are the ex-wife ID Theft issues, it makes it harder to figure out the OC to contact as well.

Some of the collections are hers, but by reporting in the regular section, and as mentioned above avoiding the DOFD, I suspect, it will change the scoring as well.

Look at the wording on the EQ report of a non CA Baddie. It does not say "Date of First Major Delinquency" for regular baddies, it says Date First Major Delinquency REPORTED...see the difference? Most of the DOLAs are blank or marked n/a.

Its a mess.

[Marswoman]

Heres another one!

I paid off a collection acct from 1998 and it has been posted under paid
"ACCTS IN GOOD STANDING" section for years....

I got a copy of my Experian report in snail mail 3 weeks ago..and everything was same.

Today, I log online and see that THIS PAID ACCT has now been moved to the collection section.

So now its added another NEGATIVE to my report....

I AM SHOCKED AND BEYOND PISSED OFF.

How can this happen and do I have to write yet another CMRR letter??????
Or should I just report it to my lawyer?

[Enigma]

Originally Posted by Marswoman

Heres another one!

I paid off a collection acct from 1998 and it has been posted under paid
"ACCTS IN GOOD STANDING" section for years....

I got a copy of my Experian report in snail mail 3 weeks ago..and everything was same.

Today, I log online and see that THIS PAID ACCT has now been moved to the collection section.

So now its added another NEGATIVE to my report....

I AM SHOCKED AND BEYOND PISSED OFF.

How can this happen and do I have to write yet another CMRR letter??????
Or should I just report it to my lawyer?

If ti was paid in 1998 then it is obsolete. Write a letter disputing it as obsolete. No need to do a full CMRRR just CM, save the $3.00

[Dallas Student]

I made these idiots go away with the MI AG. Asset is one of the biggest pains in the butt ever.

[spinn]

AACC: Basic Chart for ASSETACCEPTANCECAPIL - Yahoo! Finance

[Creditwrench]

Although it may come as a great surprise to those who may know me or know about me, I do not normally do credit repair and certainly don't accept any money for credit repair. I also know very little about it. Everything I do is legally beating up on debt collectors and attorneys, not credit repair.

I have a lady friend who needs to clean up her credit and she has asked me to help her with it. She is retired on SSI and don't make a lot of money anyway but like almost everyone else needs a little credit from time to time.

In fact, she applied for a loan at a small finance company and they gave her about half of what she needed but it did keep her medicaid from getting cancelled. Of course, they pulled her credit and of course she wanted them to give her a copy which they refused to do. I was with her in the little cubicle and the man who was helping her left for some reason so I whipped out my Sony cybershot and took pictures of the credit reports before he came back so they are in JPG format.

Most of what she has is medical stuff which she incurred because her husband was dying of cancer which he did about a year ago leaving her alone and with the bills to pay which she cannot do.

He also bought a pickup and wrecked that and that got repoed so a bank is after her for that. Of course they can't get a dime but have filed a lawsuit against her. That is no big problem and she will be taking that to federal court with my help and she should win that easily. Then she can demand that they leave her alone and get it off her credit reports in the settlement agreement. As usual, their violations are clear and easily proven. Since Oklahoma does not have a good consumer protection law as many states do it is their lawyer she is suing in federal court and not the original creditor.. That will make it harder to force deletion but that will be the lawyer's problem which he should be able to resolve with a little crying. Might work and might not. Maybe he will just have to pay it off for her. That would be letting him off easy.

Since the credit reports are in JPG format I have had to post them on my web site so those who wish to advise me about how to proceed can see the reports and be able to give more accurate information.

[stargazer0725]

First thing first...Is there a mod around that can take down the photos that CW posted and black out the SSN and personal info?

[Qtip]

Originally Posted by stargazer0725

First thing first...Is there a mod around that can take down the photos that CW posted and black out the SSN and personal info?

Thanks for pointing that out, I did not see the personal info.

[jlynn]

Why did she have to get a loan to keep her medicaid from getting cancelled? The insured does not pay for medicaid.

[Hedwig]

Originally Posted by jlynn

Why did she have to get a loan to keep her medicaid from getting cancelled? The insured does not pay for medicaid.

Good point. That's what medicaid is--a health program for those with low incomes and resources.

[stargazer0725]

I'm sure CW probably meant Medicare. I seem to remember CW is an older gentleman, and the way he refers to his "lady friend" makes me think she might be of age as well.

[neil5623]

CSR at EX says one reporting like this in the "Good Standing" section is not a baddie:

Last reported: Mar 2000
Type: Revolving
Credit limit: NA
High balance: $XXXX
Recent balance: $0 as of Mar 2000
Status: Transferred, closed
Verified Aug 2004
Sold to: Sherman Financial

[centex]

Originally Posted by neil5623

CSR at EX says one reporting like this in the "Good Standing" section is not a baddie:

Last reported: Mar 2000
Type: Revolving
Credit limit: NA
High balance: $XXXX
Recent balance: $0 as of Mar 2000
Status: Transferred, closed
Verified Aug 2004
Sold to: Sherman Financial

Strictly speaking, it is not going to be a derogatory when viewed by an automated scoring system. Accounts are sold every day. Ever had a gas card where the servicing entity changed? Ever had a store card that decided not to operate a proprietary bank and sold out to someone like WFNNB? Same thing...accounts are sold or transferred all the time with no derogatory information.

[neil5623]

So then the difference with respect to Jlynn's scenario is that there the "Type" was reporting as "Collection Account" no?

[jlynn]

Originally Posted by neil5623

So then the difference with respect to Jlynn's scenario is that there the "Type" was reporting as "Collection Account" no?

Correct.