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Old 02-08-2016, 06:40 PM   #21
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I finally got in touch with a Verizon supervisor who said he reviewed my account and will be sending info to the credit bureaus to remove any mention of my account going to collections. He said it normally takes 3 days or so for the credit report to be updated.
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Old 02-08-2016, 07:23 PM   #22
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Good news, utrecht.
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Old 02-08-2016, 07:34 PM   #23
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Great Job! It's too bad they could not have done that earlier.
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Old 02-09-2016, 05:46 AM   #24
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Originally Posted by ivinsfan View Post
Well, I just got a notice from my auto/home/business insurer of over 20 years explaining that even though our credit score is around 830 we didn't quality for their "best rate" .It linked me thru to a 75 page document of how they score your insurance risks.. They want you have less then 5 credits cards. They want the credit line on each card to be at least 10,000 bucks. Did you have a credit pull in the last 2 years, bad. And the most annoying one, we financed a new car for less then 60 days 3 years ago to get a 750 dollar rebate on the car price. It's paid off..but the ding was a car loan on record..

That's all they had to complain about, but it's all legal in the insurance system.A bad credit score and a non-payment ding will hurt you.
There's a couple of angles to this. Your insurance company's essentially telling you that they don't want you as a customer. The Upper 1% won't even meet their criteria for their "Best Rates." If you've been with an insurance company 20 years, you're not getting their lowest rates anyway.

Insurance companies are notorious for quoting low rates to get new customers' business, and then upping premiums 10-15% a year--using inflation as a reason for higher rates, even with no claims. I change insurance carriers about ever 5 years to keep'em honest--and rates reasonable.

If your insurance company's underwriting requirements are so high, go elsewhere. You're not glued to them for life.
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Old 02-09-2016, 06:02 AM   #25
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Utrecht: You can see now how dissatisfied the customers of Verizon are. AT&T's customers are also in the same bandwagon, as are the customers of such terrible companies as Comcast/Xfinity and Charter Cable TV.

All of the major creditors, including these companies, have allowed the Big 3 credit bureaus access to their computer records. No person screens or monitors any reports until they're questioned about them. And they're receiving millions of correction requests without the manpower to research reporting in error.

Hang in there, and you'll get this matter solved.
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Note: I received a note today in my daughter's name on a $862 collection. I believe it's where she straw purchased a phone for one of her friends that skipped out on paying a cell phone bill.

Cell phone collections for Millenials is a new industry that's going to follow our younger generation. They're going to be paying dearly for higher insurance premiums, interest on automobiles, higher down payments--if they can even rate for loans due to a diminished FICO score. It's just so sad that our young are so hung up on EXPENSIVE communications requiring $600 SmartPhones they cannot afford without having to go on 2 year contracts where they're "hung" with overpriced cell services. Most of them don't even talk on phones--texting all the time. It's just sad.
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Old 02-13-2016, 09:18 AM   #26
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As of Credit Karma's latest update, my credit is back to 805 and 798.
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Old 02-13-2016, 09:36 AM   #27
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There's a couple of angles to this. Your insurance company's essentially telling you that they don't want you as a customer. The Upper 1% won't even meet their criteria for their "Best Rates." If you've been with an insurance company 20 years, you're not getting their lowest rates anyway.

Insurance companies are notorious for quoting low rates to get new customers' business, and then upping premiums 10-15% a year--using inflation as a reason for higher rates, even with no claims. I change insurance carriers about ever 5 years to keep'em honest--and rates reasonable.

If your insurance company's underwriting requirements are so high, go elsewhere. You're not glued to them for life.
I don't believe that is the case, we check rates pretty often and have a lots of coverage bundled together for our business and the 2 families connected to it. My take on it is that this is the age we live in...but I will be talking to our agent and asking for some hard numbers....but you are correct, sometimes inertia is the enemy of saving money.
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