Experian just screwed me!

[jmangoalie]

So I have a University of Phoenix collection that was on my credit and showing a first reported date of Sept 2010. I paid it off and now Experian is showing a First reported date of May, 2013 just like its a new collection and its not! Will Experian correct this? Anyone else ever have this issue?

[dac5678]

Unfortunately that's how it works. Making any type of payment resets the clock, so it will be on your report for 7 years.

 

You can try sending a gw letter asking them to remove it.

 

Good luck!

[Rebuilding2010]

Also, its not experian you should put the blame on, its UoP

[Vettecor]

It is so stupid how things are done in regards to the CRA'S. Pay a collector and now the clock restarts is just CRAZY. He is going to have this on his report 2.5 years longer than he would of, had he NOT paid.

 

Another thing is when you pay a collector in full and the collector changes the account to paid, your score does NOT go up !!!

 

I can't see any advantage to ever pay a CA. Am I wrong ?

[Rebuilding2010]

1. To avoid a judgement against you when being sued

2. When agreeing to delete in exchange for payment

[beli]

Unfortunately that's how it works. Making any type of payment resets the clock, so it will be on your report for 7 years. You can try sending a gw letter asking them to remove it. Good luck!

It will not reset the 7yr reporting period. It should still fall off when the original DOFD was.. only thing it changes is it updates to current..

 

I paid FP two years ago and it did the same thing to me on Experian, updated it with current CO status, however it still falls off when it's suppose to NEXT YEAR. Equifax did the same thing, but I was able to dispute it quickly and came off Equifax.

[beli]

It is so stupid how things are done in regards to the CRA'S. Pay a collector and now the clock restarts is just CRAZY. He is going to have this on his report 2.5 years longer than he would of, had he NOT paid.

 

Another thing is when you pay a collector in full and the collector changes the account to paid, your score does NOT go up !!!

 

I can't see any advantage to ever pay a CA. Am I wrong ?

Double check.. it shouldn't reset the reporting time period. Just makes it look like a current CO when it really wasn't.

[Vettecor]

How often do PFD happen ? Are you more likely to get a pay for delete from a collection agency or the original creditor.

[Rebuilding2010]

CA

[beli]

CA

Depends on the OC and what type of debt. I've been able to get some Oc's to delete..these weren't CC debts however.

[Vettecor]

Thanks

[jmangoalie]

 

Unfortunately that's how it works. Making any type of payment resets the clock, so it will be on your report for 7 years. You can try sending a gw letter asking them to remove it. Good luck!

It will not reset the 7yr reporting period. It should still fall off when the original DOFD was.. only thing it changes is it updates to current..

 

I paid FP two years ago and it did the same thing to me on Experian, updated it with current CO status, however it still falls off when it's suppose to NEXT YEAR. Equifax did the same thing, but I was able to dispute it quickly and came off Equifax.

I know you said that you disputed it and I intend to do that first thing Monday when I call Experian. It looks like it just became a charge off last month. When you disputed with Equifax when this happened to you, what did you say or write to them? Thanks for any help you can give me.

[beli]

 

 

Unfortunately that's how it works. Making any type of payment resets the clock, so it will be on your report for 7 years. You can try sending a gw letter asking them to remove it. Good luck!

It will not reset the 7yr reporting period. It should still fall off when the original DOFD was.. only thing it changes is it updates to current..

 

I paid FP two years ago and it did the same thing to me on Experian, updated it with current CO status, however it still falls off when it's suppose to NEXT YEAR. Equifax did the same thing, but I was able to dispute it quickly and came off Equifax.

I know you said that you disputed it and I intend to do that first thing Monday when I call Experian. It looks like it just became a charge off last month. When you disputed with Equifax when this happened to you, what did you say or write to them? Thanks for any help you can give me.

I just basically told them that the DOFMD (Date of First Major Default) which Equifax had listed as the month/year I paid it was incorrect.. I sent everything Certified Mail. Basically, jack attack type letter. I didn't call them.

 

Never had any luck getting it off Experian.... so I just left it there.. it's not hurting anything.. still falling off next year.

Edited May 11, 2013 by beli

[jmangoalie]

 

 

 

Unfortunately that's how it works. Making any type of payment resets the clock, so it will be on your report for 7 years. You can try sending a gw letter asking them to remove it. Good luck!

It will not reset the 7yr reporting period. It should still fall off when the original DOFD was.. only thing it changes is it updates to current..

 

I paid FP two years ago and it did the same thing to me on Experian, updated it with current CO status, however it still falls off when it's suppose to NEXT YEAR. Equifax did the same thing, but I was able to dispute it quickly and came off Equifax.

I know you said that you disputed it and I intend to do that first thing Monday when I call Experian. It looks like it just became a charge off last month. When you disputed with Equifax when this happened to you, what did you say or write to them? Thanks for any help you can give me.

I just basically told them that the DOFMD (Date of First Major Default) which Equifax had listed as the month/year I paid it was incorrect.. I sent everything Certified Mail. Basically, jack attack type letter. I didn't call them.

 

Never had any luck getting it off Experian.... so I just left it there.. it's not hurting anything.. still falling off next year.

So what do I do if I am in the process of getting a mortgage?

[beli]

 

 

 

 

Unfortunately that's how it works. Making any type of payment resets the clock, so it will be on your report for 7 years. You can try sending a gw letter asking them to remove it. Good luck!

It will not reset the 7yr reporting period. It should still fall off when the original DOFD was.. only thing it changes is it updates to current..

 

I paid FP two years ago and it did the same thing to me on Experian, updated it with current CO status, however it still falls off when it's suppose to NEXT YEAR. Equifax did the same thing, but I was able to dispute it quickly and came off Equifax.

I know you said that you disputed it and I intend to do that first thing Monday when I call Experian. It looks like it just became a charge off last month. When you disputed with Equifax when this happened to you, what did you say or write to them? Thanks for any help you can give me.

I just basically told them that the DOFMD (Date of First Major Default) which Equifax had listed as the month/year I paid it was incorrect.. I sent everything Certified Mail. Basically, jack attack type letter. I didn't call them.

 

Never had any luck getting it off Experian.... so I just left it there.. it's not hurting anything.. still falling off next year.

So what do I do if I am in the process of getting a mortgage?

I'd still send them a letter... did your mortgage broker already pull the credit report w/o it there? Just tell them you paid it and it now looks like a current CO but it wasn't. Did you pay it due to the Mortgage? How good were your scores?

[Jnavarro]

It is so stupid how things are done in regards to the CRA'S. Pay a collector and now the clock restarts is just CRAZY. He is going to have this on his report 2.5 years longer than he would of, had he NOT paid.

 

Another thing is when you pay a collector in full and the collector changes the account to paid, your score does NOT go up !!!

 

I can't see any advantage to ever pay a CA. Am I wrong ?

It's a double edged sword my friend, when my creditor updated a closed account to no missed payments it changed the length of the loan from originally jan 09 - jan 11 to jan09 - may13

[clumsycajun]

 

It is so stupid how things are done in regards to the CRA'S. Pay a collector and now the clock restarts is just CRAZY. He is going to have this on his report 2.5 years longer than he would of, had he NOT paid.

 

Another thing is when you pay a collector in full and the collector changes the account to paid, your score does NOT go up !!!

 

I can't see any advantage to ever pay a CA. Am I wrong ?

It's a double edged sword my friend, when my creditor updated a closed account to no missed payments it changed the length of the loan from originally jan 09 - jan 11 to jan09 - may13

Seriously? That's inaccurate information though. And I know you hate to be an flowers and ask them to update something they did on goodwill but yuck.

[Rebuilding2010]

Did they lower your payments and then stretch it out or something? Or are you paying an extra two years worth of payments to get those missed notes off? I don't understand

[clumsycajun]

It sounds like they just removed the lates but then extended the loan time to this month since that is when they made the correction.