How do I find out what derogatory item I have on my credit?
06-20-2007, 09:24 AM
#1
How do I find out what derogatory item I have on my credit? I have a Washington Mutual card in which every month it gives you a snap shot of your profile and the score. Its based on the 3 credit bureaus, so its accurate.
It keeps listing that I have 1 derogatory item and the description says:
Derogatory Items — A range of the items viewed as derogatory for credit evaluation including accounts in poor standing 120 days or worse. Accounts in collections must have a balance greater than $100 to be included as a derogatory item. This range excludes accounts in bankruptcy.
I pulled a credit report a while back, not sure when it was. I'll have to find the report to see when I did it because if I remember correctly, I can do it for free once a year.
The only thing that I saw bad on my report was an old Sprint account. I already knew that was going to come up. I had been getting letters from an outsourced company who actually bought the account and offered me to pay a certain amount that would wipe this off my credit. It wasn't the full amount, but it was majority, so I went through with it so I can put it behind me.
That's the only item that I could think of that could be derogatory, but it doesn't have a balance of $100 or more.
How do I find out what it is and how do I get rid of it? I've tried to call all 3 bureaus before and I don't know how, but I couldn't get anyone on the phone. I don't know if they have it setup that way or if I just wasn't selecting the correct options.
It keeps listing that I have 1 derogatory item and the description says:
Derogatory Items — A range of the items viewed as derogatory for credit evaluation including accounts in poor standing 120 days or worse. Accounts in collections must have a balance greater than $100 to be included as a derogatory item. This range excludes accounts in bankruptcy.
I pulled a credit report a while back, not sure when it was. I'll have to find the report to see when I did it because if I remember correctly, I can do it for free once a year.
The only thing that I saw bad on my report was an old Sprint account. I already knew that was going to come up. I had been getting letters from an outsourced company who actually bought the account and offered me to pay a certain amount that would wipe this off my credit. It wasn't the full amount, but it was majority, so I went through with it so I can put it behind me.
That's the only item that I could think of that could be derogatory, but it doesn't have a balance of $100 or more.
How do I find out what it is and how do I get rid of it? I've tried to call all 3 bureaus before and I don't know how, but I couldn't get anyone on the phone. I don't know if they have it setup that way or if I just wasn't selecting the correct options.
06-20-2007, 09:37 AM
#3
www.freecreditreport.com. Once you're there you can dispute and information and get it resolved. I had a couple of negative things in my credit report from my father that showed up in mine (I'm a Jr.) and got it resolved. My credit jumped up a good 40 points to a 728 rating once everything got resolved.
06-20-2007, 09:43 AM
#4
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Everything (poisitive or negative) is on your credit record for seven years. I'm not sure how some of those "credit cleaner" companies work, but some of them do nasty **** like freeze your credit for a few years, until the derogatory things fall off.
Remember, when it comes to reporting a negative, the credit bureaus move FAST. When it comes to removing those items, they move SLOW. Their incentive is to give you a bad score, so lenders will charge you higher interest rates.
-Mike
Remember, when it comes to reporting a negative, the credit bureaus move FAST. When it comes to removing those items, they move SLOW. Their incentive is to give you a bad score, so lenders will charge you higher interest rates.
-Mike
06-20-2007, 09:53 AM
#5
I kept getting ridiculous bills from Sprint, so I just stopped the service. I was tired of giving my money away and they did nothing to help me. I switched over to Cingular and NEVER had a problem. Go figure.
This was several years back (3-5) when this happened and I kept getting letters from some company stating that they now have ownership of the account with the balance. The company offered me different amounts and each of them got lower and lower. They even said last chance for this one time offer, but sent me that like 3 times or so.
When I pulled up my report, that company's name came up, so I knew it had to be legit. I went ahead and paid them the amount they offered. I don't remember the exact amount off the top of my head, but I know it was the majority. The entire balance was $270, I THINK.
Anyhow, my Washington Mutual card keeps listing that I have this derogatory item and I want to see what the hell it is. I paid the account off, not in full, but majority. I know the remaining balance is less than $100 and according to that description, it can only be listed as derogatory if it has a balance of $100 or greater.
This was several years back (3-5) when this happened and I kept getting letters from some company stating that they now have ownership of the account with the balance. The company offered me different amounts and each of them got lower and lower. They even said last chance for this one time offer, but sent me that like 3 times or so.
When I pulled up my report, that company's name came up, so I knew it had to be legit. I went ahead and paid them the amount they offered. I don't remember the exact amount off the top of my head, but I know it was the majority. The entire balance was $270, I THINK.
Anyhow, my Washington Mutual card keeps listing that I have this derogatory item and I want to see what the hell it is. I paid the account off, not in full, but majority. I know the remaining balance is less than $100 and according to that description, it can only be listed as derogatory if it has a balance of $100 or greater.
06-20-2007, 09:59 AM
#7
Actually, about you WaMu credit score, if you read where the credit score comes from, you'll see it comes from ONE bureau. Every time, mine is from TransUnion, which usually is the highest since it's the least used.
Paying off a collection will only show that you no longer owe them money. It's still going to show up on your credit report.
Paying off a collection will only show that you no longer owe them money. It's still going to show up on your credit report.
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06-20-2007, 10:08 AM
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Originally Posted by pdanrichey
If and when you pay the old debt, it may actually hurt your FICO score...but technically you should pay it so the bad debt goes away.
06-20-2007, 10:34 AM
#9
Just dispute it with one of the three credit bureaus online. I wouldn't even waste my time trying to speak to someone on the phone. You will end up with someone in another country who will not help you with your problem and will just try and sell you some credit protection bullshit.
06-20-2007, 12:22 PM
#11
So if I pay off the agency/company for an old dept, why would it still show up?
I was told by the agency who bought my Sprint account/debt, that if I paid them a certain amount, that it would come off my credit. I don't remember exactly how they worded it, but I could of swore it was in those lines.
You say to dispute it and if they don't respond, which is usually the case, it will automatically come off. Who is they? Why would it come off if they don't respond?
Yes, ya'll are correct. Wamu uses Transunion. I thought it was all 3. Sorry.
So can I still dispute this even though I've already paid off/towards the bad account? If so, what good will it do?
I was told by the agency who bought my Sprint account/debt, that if I paid them a certain amount, that it would come off my credit. I don't remember exactly how they worded it, but I could of swore it was in those lines.
You say to dispute it and if they don't respond, which is usually the case, it will automatically come off. Who is they? Why would it come off if they don't respond?
Yes, ya'll are correct. Wamu uses Transunion. I thought it was all 3. Sorry.
So can I still dispute this even though I've already paid off/towards the bad account? If so, what good will it do?
06-20-2007, 01:02 PM
#12
Sorry, what I posted above is incorrect.
If you've paid, and the item remains on your report, go to the credit bureau and dispute the item that has been paid. It's a good chance that the collection agency has purged your record and therefore will NOT verify a dispute investigation from the credit bureau. If the credit bureau doesn't receive verification from the collection agency in thirty days, they are obligated by law to delete the item from your credit report.
06-20-2007, 02:21 PM
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Originally Posted by Dragaholic
So if I pay off the agency/company for an old dept, why would it still show up?
I was told by the agency who bought my Sprint account/debt, that if I paid them a certain amount, that it would come off my credit. I don't remember exactly how they worded it, but I could of swore it was in those lines.
You say to dispute it and if they don't respond, which is usually the case, it will automatically come off. Who is they? Why would it come off if they don't respond?
Yes, ya'll are correct. Wamu uses Transunion. I thought it was all 3. Sorry.
So can I still dispute this even though I've already paid off/towards the bad account? If so, what good will it do?
I was told by the agency who bought my Sprint account/debt, that if I paid them a certain amount, that it would come off my credit. I don't remember exactly how they worded it, but I could of swore it was in those lines.
You say to dispute it and if they don't respond, which is usually the case, it will automatically come off. Who is they? Why would it come off if they don't respond?
Yes, ya'll are correct. Wamu uses Transunion. I thought it was all 3. Sorry.
So can I still dispute this even though I've already paid off/towards the bad account? If so, what good will it do?
06-20-2007, 02:44 PM
#15
So what site/credit bureau do I visit to start this dispute? I was under the impression that it was going to be removed once I paid off the dept. I didn't expect it right away, but a month from the time I paid it off. That's what they told me to expect. Its been several months now and nothing has changed.
I'm glad I can do this online as I don't want to waste another cell phone minute with the bureaus. I can't believe I did and got no where.
Thanks for the help.
I'm glad I can do this online as I don't want to waste another cell phone minute with the bureaus. I can't believe I did and got no where.
Thanks for the help.
06-20-2007, 03:46 PM
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Originally Posted by DopeFedZ
Go to any of the three credit bureaus website and dispute it there.
06-20-2007, 04:20 PM
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Originally Posted by Dragaholic
You have to dispute it with all 3? What if 2 ok it and the other one doesn't? What a headache! 
06-20-2007, 05:17 PM
#20
Originally Posted by Dragaholic
You have to dispute it with all 3? What if 2 ok it and the other one doesn't? What a headache!
