TransUnion issues? (yet another TU thread.. long post)

[CCsAreEvil]

Warning: long post. However, hopefully others viewing this thread in the future can get a better understanding, too.

Ok, I just can't figure out if these things need to be cleared up or maybe nothing at all (everything's fine?). It just does not seem right to me, though. I've even included screenshots. These are results from my official myfico TU.

The 2 pages I'm focusing on are "2. Understanding your FICO Score" and "6. Accounts".

Understanding your FICO Score



Obviously, negatives are shown on the left in red.



"Number of your accounts that were ever 60 days late or worse: 7" - so, even though these accounts are IIB (Included in Bankruptcy), they still show as a negative indicator? Nothing in the account details show any late payments.



"Your most recent late payment happened: 1 Month ago" - Huh? On the accounts page, nothing is showing a late report. And within the past month? This is definitely wrong. Again, nothing from any of the accounts details is showing a late payment.



"Number of your accounts with a missed payment or a derogatory description: 7 accounts" - Again, this almost mirrors the 1st negative point.

Last 4th item is obvious because of the BK public record.

Accounts

So, here's the accounts page summary:



I currently only have 2 active/open accounts. Most of those top rows are closed accounts long ago before the BK filing. One open account has a balance of $25. However, there are those 7 accounts with only 1 saying "Paid or Paying as agreed" near the bottom. Rest are "Unrated".

Here's a sample detail of one of the accounts (when you click on Details):



So, what is making this account indicate it's IIB? I thought the "Descriptions" was a text field and not a "flag" field flagging this account as IIB.

Summary page says $0 for balance but says Not Reported on this details page. Same goes for "Current Status": Unrated and "Past due Amount". Do these really need to be corrected at all?

Any clarification on anything is appreciated. Thanks.

[backtoschool]

IIB is still a negative on a fico score. The only thing that IIB helps is that it zeroes out the debt so that your debt to income ratio and overall utilization are helped. IIB is considered the same as charged off in terms score impact regarding how late the payment is and it is a very negative indicator as far as fico is concerned.

IIB means that the account was included in bankruptcy. Even if you have a zero balance, the card is going to report as IIB and it will be negative.

As seven years go buy (from first late payment) and these accounts drop off your reports, as long as you still have a long standing credit history, (ie still have positive trade lines from your past reporting) your score will go up. As the accounts age and the "lates" (IIB is scored like a 120+ day late with no balance by FICO) are longer in the past, your score will go up as well.

That is why adding positive trade lines is so important. Having a bunch of IIB notations still means you have a bunch of negative trade lines. You need positive trade lines to counterbalance those.

[CCsAreEvil]

I guess the biggest issue I have is that it says "Your most recent late payment happened: 1 Month ago" but there's nothing in the report that says that. I guess I'll have to contact MyFico instead of TransUnion because there's nothing in the TU report that says I ever made a late payment.

[backtoschool]

I guess the biggest issue I have is that it says "Your most recent late payment happened: 1 Month ago" but there's nothing in the report that says that. I guess I'll have to contact MyFico instead of TransUnion because there's nothing in the TU report that says I ever made a late payment.

As I said in my previous post, IIB is counted as a late payment by fico. You were discharged in December 2009, so that means that one of your trade lines is still reporting a charge off each month. That can be disputed. Check each IIB trade line and see which one is reporting the charge off or IIB status as new. That is the culprit.

[ImNotBk]

As I said in my previous post, IIB is counted as a late payment by fico. You were discharged in December 2009, so that means that one of your trade lines is still reporting a charge off each month. That can be disputed. Check each IIB trade line and see which one is reporting the charge off or IIB status as new. That is the culprit.

Wrong again as usual.......

[backtoschool]

Sooner or later BubbaJoe/TheExpert/ImNotBk/etc... will run out of ip addresses and mac addresses and/or computer lab hours will be over at the prison/mental hospital for the night and it will be lights out time, and we will all get a welcome relief from him/her.