FICO Dropped 100 points in One Month, HELP!!!

[crazydebt]

hello. I have a WAMU credit card which has a FICO Score from TransUnion. It has a graph of my score:

July = 644
Aug = 644
Sep = 644
Oct = 648

and then in Nov = 548

What the hell happen?

Another quick question, in number of accounts, is shows 15+, should that account for the CC that I had in BK as well? Acct open shows 6. All 6 account has been paid on time. Never late for the last 2 years. Never max out or go over 30 percent of credit. Anyways, someone please explain this to me. Thank you.

[SinkingFast]

If you haven't seen your Credit Report recently, go to http://www.annualcreditreport.com and pull free copies of your Credit Reports. See what's there. Could be you've had a change in reporting on some accts you aren't aware of.

Be sure to note your User ID and Password at the AnnualCreditReport.com website. If you decide to use True Credit's monitoring services, the User ID and Password will be the same. True Credit and AnnualCreditReport.com are both backed by or linked to TransUnion.

[HHM]

Follow SinkingFast's advice, go get a copy of your credit report and see what is actually being reported. Without more info, about the only thing we can offer is "wild" speculation...which would not be very helpful.

[crazydebt]

gotcha, i will pull it tonight and double check. Just was shock when i saw it this morning.

[crazydebt]

okay, well I pulled my credit report using freecreditreport and purchuse the extra stuff for 25 bucks. Here is what I got:

Experian = 657
Equifax = 598
TransUnion = 646

4 accounts with Equifax show that the account is still open...It should be closed, right? Also only one of the account shows a balance, the rest are 0 or nothing display.

Transunion shows one account open

Experian shows one account open

I should dispute all the open account and make them show that its closed, right? also the balance should be 0 or not display at all, right?

Almost everything shows that it was in BK

Give me some advise on what to do, thank you

[HHM]

What type of accounts are they?

Just because you filed BK does not mean the creditor will automatically close the account. Did you request that the accounts be closed. Do TU and EX show the the accounts that are shown as open on EQ, if so, how do they list them.

What are the notations on the account, does it say Paid as Agreed, Included in Bankruptcy, Charge Off, etc.

[crazydebt]

Accounts are all CC.

For one account, (Citibank SD NA),

Equixfax shows the following:
Revolving or option
Open
Payment status: Bad debt and placed for collection and skip
Comments: Charged off account

Experian shows the following:
Revolving Terms
Closed
Payment status: charge-off
comments: account in dispute-reported by subscriber


Let me know what you think, thanks.

[SinkingFast]

If the accts were indeed Charged Off before you filed BK, then there's nothing you can do about the CO comment. BUT if the accts were delinquent, not Charged Off when you filed, then the CO report is incorrect and needs to be disputed.

EQ is bad. You get one shot at disputing. If they say they've verified the info with the Creditor, then EQ will keep it on your Credit Report. We have a couple showing the "Disputed by Subscriber" and EQ will not change it. The 2nd dispute didn't even go thru. EQ said the info had been verified and that was it. We'd have to take the matter up with the Creditors directly. Or, we'd have to be willing to send our list of Creditors and our Discharge papers to them. Otherwise, the reports will stay.

But the Charge Offs are probably one factor in bringing down your scores.

If the Open accts don't have any derogatory reporting associated with them, I don't know if I'd bother with them at this point. They aren't showing "Closed by Credit Grantor" with any other Derogatory comments, and reporting "pays/paid as agreed" that can be a good thing for you.

[BK'd-Betty]

SinkingFast - you can write to EQ and put in a Procedural Request. This means they have to tell you exactly how the information was verified, what process they used, the dates, and the exact information that came back to them and from whom.

If they don't respond to the PR - request delete. If they do - you go directly to the source and dispute. If the both sources verify incorrect information they are in violation.

You can file a complaint with the FTC, the AG and the BBB. You can also sue them (if you care to).

Another good venue to get creditors attention is Planetfeedback.com.

If a creditor reports lates after you file they are in violation of the auto stay and if you are already discharged, they are in violation of the permenant injunction of your bankruptcy. Lates after your BK date are considered collection activity, although some creditors might argue that point, but there is case law on that subject in our favor. You can re-open your bankruptcy case and bring them before your bankruptcy judge, although most people don't have to take it that far.

One thing to keep in mind - it can take several months after your discharge for all the reporting to settle down.