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Date: Sun, 07/17/2011 - 10:06

Submitted by anonymous
on Sun, 07/17/2011 - 10:06

Posts: 202330 Credits: [Donate]

Total Replies: 4


My wife had a card that she was using for business that was maxed out. I agreed to make monthly payments to pay the debt and did; however, during the period when this was being negotiated, they have reported a 60 past due on my credit reports. How do I get this removed? My 3 reports show 695, 713 and 730 but according to the different reports, one is Fair, the other is Good and the last one is Excellent. They all contain the same information? Is this a problem when someone reviews my report?
Thank you


Hi,

Welcome to the Forums..!!

May be you've purchased a three-in-one credit score for the first time and that's why you're scared! The fact is that credit bureaus use different models for calculating your credit score. While Equifax sells the FICO score, it uses the term BEACON to refer to the credit score that is sold to other business organizations. The score ranges from 350-850. The Experian score, known as Fair Isaac Risk Model or PLUS, usually ranges from 330-830 and the TransUnion score, known as EMPIRICA, ranges from 300-850.

Now the lenders usually have established relationships with a particular credit bureau. You may ask your lender from which credit bureau it purchases your credit score. They may or may not tell you. However, as most lenders use the FICO score model, you can purchase it based on Equifax and TransUnion.


lrhall41

Submitted by amy.nickson1986 on Sun, 07/17/2011 - 21:09

( Posts: 72 | Credits: )


Hi Jamespowen,

Welcome to the forums :)

Quote:

My 3 reports show 695, 713 and 730 but according to the different reports, one is Fair, the other is Good and the last one is Excellent. They all contain the same information?
You mean that all three of the credit reports contain same information regarding the account you are talking about, right? But, not all creditors report to all of the credit bureaus at the same time. That might be a problem as to why the three credit scores are different.

How old are the missed payments? Actually, negative listings are there to stay on your credit report for 7 years. But if you are sure that you never missed payments, then you will have to dispute the listing. You will have to show proof of your on-time payments and dispute the listing with the credit bureaus. This can help you in removing the negative listing from your credit reports.

Hope this helps,

Marvel Becks


lrhall41

Submitted by marvelbecks on Sun, 07/17/2011 - 21:10

( Posts: 143 | Credits: )


Late payments remain on the credit report for 7 years from the date of first default on the account. However, you may request the creditor to remove the item from the credit report. But remember, the creditor is not bound to do so.

Not all the lenders report to the 3 credit bureaus. This is why all the credit reports don't contain the same information. Lenders know this fact very well. They are most likely to pull a copy of your credit report from the 3 credit bureaus. They will tally the information and then make a decision.


lrhall41

Submitted by Good Nelly on Sun, 07/17/2011 - 21:28

( Posts: 2846 | Credits: )


Quote:

I agreed to make monthly payments to pay the debt and did; however, during the period when this was being negotiated, they have reported a 60 past due on my credit reports.
I am assuming you went late during the negoitation period. Unfortunately, it this is the case, you will be stuck with them as you would have been past due.


lrhall41

Submitted by SOAPLADY on Sun, 07/17/2011 - 21:33

( Posts: 17315 | Credits: )