Hi Smith
Key derogatory is nothing but negative information which can hurt your credit score. Know how to remove negative information from credit report.
Derogatory or negative information often hurts the credit file. For example, if a creditor is reporting your account as 30 days late on payment, it is hurting your credit file negatively. Besides, the late payment information arranged in sequence like 30, 60, 90, 120, 180 days late, loan default, collections; charge-offs; judgments and foreclosures are also bad.
If a particular account is marked as key derogatory information in your file, you have to take steps in improving your file. Pay off the account and the file will start improving steadily.
Before disputing the claim the status was marked as 'charged off'. The claim is 'currently' being disputed and the status shows 'key derogatory'. Why would this be?
Bill, you can request an explanation from the bureau about the present status of key derogatory. I don't think it makes any difference because it was negative before disputing the item. Anyway, you can get the status clarified with the bureau in writing. Do let me know when you get a response from them.
Smith, I have searched a lot on what does the term Key Derogatory mean but landed nowhere. I think, they put this status on the accounts that are being disputed by the consumer. Not sure...just my thoughts.
I was staying in apertment and I left aprtment after paying all the dues. But later I got the notice from Apt colletion agency that I have to pay $150. But I was in india when this came. Somehow I missed the date of payment. Moment I realized I have to pay this amont I paid of completely.Collection agency hit my credit report with Key Derogatory. It hurt my credit score very badly. Please let me know how to get rid of this. How long this is going to appear on the report. Please provide me information rgarding this ASAP.
i have a Key Derogatory on my account for almost 2 years now, and i have no idea who the bill was from! i was never notified, and my credit score is really bad. if i pay this off, will the Key Derogatory fall off my credit report? or am i going to have bad credit forever?
Anonymous
Sub: #9 Old bad credit things on your reportSat, 07/29/2006 - 16:59
If you don't know what the bill is from then DISPUTE it. The collection agency MUST provide debt validation. The credit reporting agency will investigate it and if it's founded as unfounded they will delete it for you.
If not then you can get the address of the collection agency and send a debt validation letter which they must respond to. If they do not then they can not collect the debt... and must remove it from your credit history.
I'm currently in the process of repairing my credit after many mistakes in my youth. I have 2 key derogatories on my experian file but my equifax and transunion are reflecting my status more clearly. These are debts which have been paid off for over 2 years now. Is there a way I can still dispute this?
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Posts: 1251
Credits: 27080.9 Send message to john
Hi Smith
Key derogatory is nothing but negative information which can hurt your credit score. Know how to remove negative information from credit report.
Derogatory or negative information often hurts the credit file. For example, if a creditor is reporting your account as 30 days late on payment, it is hurting your credit file negatively. Besides, the late payment information arranged in sequence like 30, 60, 90, 120, 180 days late, loan default, collections; charge-offs; judgments and foreclosures are also bad.
If a particular account is marked as key derogatory information in your file, you have to take steps in improving your file. Pay off the account and the file will start improving steadily.
Posts: 2
Credits: 4656.25 Send message to smith8738
Before disputing the claim the status was marked as 'charged off'. The claim is 'currently' being disputed and the status shows 'key derogatory'. Why would this be?
Thanks!
Bill
Posts: 1251
Credits: 27080.9 Send message to john
Bill, you can request an explanation from the bureau about the present status of key derogatory. I don't think it makes any difference because it was negative before disputing the item. Anyway, you can get the status clarified with the bureau in writing. Do let me know when you get a response from them.
Posts: 2
Credits: 4656.25 Send message to smith8738
thank you!
Posts: 449
Credits: 6600.35 Send message to stella
Smith, I have searched a lot on what does the term Key Derogatory mean but landed nowhere. I think, they put this status on the accounts that are being disputed by the consumer. Not sure...just my thoughts.
I was staying in apertment and I left aprtment after paying all the dues. But later I got the notice from Apt colletion agency that I have to pay $150. But I was in india when this came. Somehow I missed the date of payment. Moment I realized I have to pay this amont I paid of completely.Collection agency hit my credit report with Key Derogatory. It hurt my credit score very badly. Please let me know how to get rid of this. How long this is going to appear on the report. Please provide me information rgarding this ASAP.
Debt Samaritan
Posts: 485
Credits: 8548.05 Send message to Gretchin
Hi
Did you pay the balance amount to the CA and were they authorized for the collections? If so, the CA must update your file with "paid collection".
You should highlight this item and place it on dispute with the bureau. They will make the changes and send you a free copy within 30 days.
i have a Key Derogatory on my account for almost 2 years now, and i have no idea who the bill was from! i was never notified, and my credit score is really bad. if i pay this off, will the Key Derogatory fall off my credit report? or am i going to have bad credit forever?
Aileen,
If you don't know what the bill is from then DISPUTE it. The collection agency MUST provide debt validation. The credit reporting agency will investigate it and if it's founded as unfounded they will delete it for you.
If not then you can get the address of the collection agency and send a debt validation letter which they must respond to. If they do not then they can not collect the debt... and must remove it from your credit history.
Allen
Posts: 3
Credits: 153.9 Send message to RogueAngyl
I'm currently in the process of repairing my credit after many mistakes in my youth. I have 2 key derogatories on my experian file but my equifax and transunion are reflecting my status more clearly. These are debts which have been paid off for over 2 years now. Is there a way I can still dispute this?
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