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Can someone advise? Bad Credit Report
Old 12-12-2012, 08:44 PM   #1
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Can someone advise? Bad Credit Report


I am hoping to find some advice from someone, somewhere.

I went last week to check out my free credit report and found a "Potentially Negative Item or Item for Further Review" on my Experien report - that is the only one I checked

I had a Home Equity Line of Credit, and I opened a new one in like September because the other was running out.

The line of credit was for $50,000 because that was the minimum you could have it for, but I never drew a single penny - the minimum to draw would have been $10,000 and you would have not have had to begin paying until 5 years was up - then you would have to pay it within 15 years, I believe.

But I never drew a single penny. In June of 2012, I was okay, and in July of 2012 I was reported as 90 days late. How can I be late on zero dollars?

So I disputed it w/experien and also met with someone at the Credit Union, it was only after the meeting when I got her card that I discovered she was the "office' manager.I had requested to meet w/a manager after all.

She agreed though that I could not be 90 days late since I had never owed anything, and that they would fix it. The results of my dispute just came back, and I am told that my account will go to a positive status in April 2019, and there is no data for August - November 2012, but in December I am okay. I am still 90 days past due for July of 2012. on my zero dollars.

It also reports from Credit limit/high balance between December 2010 and July 2012 was $50,000.

Can I continue to dispute this - Experien only gave me like 120 characters to write my dispute, and this was not the result I could have ever dreamed of. Do I need a lawyer? Prior to this i have had perfect credit and when they did a score on my credit for the Home Equity Line in August my score was like 846.

I am feeling screwed in a major way.


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Old 12-13-2012, 05:37 AM   #2
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It depends on how much time & effort you want to devote to this, and what the outcome will be.

If it was me I'd just write the note in the Experian file and let it go at that, or maybe also call the credit union and let them know the fix got garbled in the transmission and would they please try again.

I heard the call to do nothing. So I answered it.
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Old 12-13-2012, 07:08 AM   #3
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Did your credit score go down because of this? If your score was not affected I would think a note in the file would be adequate along with telling the credit untion to try again.

Also, I would call Experion, it could be considering it a potential negative just because you could draw on it.
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Old 12-13-2012, 07:30 AM   #4
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Originally Posted by rothlev View Post
Did your credit score go down because of this?
Important question, and by how much. I don't know much about these credit scores, but I've read that if you are within a certain range, that is all that counts. Plus/minus a few points may not be significant.

According to this:

Credit Score Scale 2012

730-850 is considered 'excellent', and they don't show anything higher.

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Old 12-13-2012, 08:15 AM   #5
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I agree with others that this is probably not a huge deal. I would ask the credit union to write to Experian explaining that the 90 days late shown on your credit report in July 2012 is incorrect and have them ask Experian to correct it and leave it at that.
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Old 12-13-2012, 08:48 AM   #6
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Stop talking in person or on the phone and start communicating by writing/email. Hopefully they can get it straight within short order.

I knew someone in a somewhat similar situation who ended up in small claims court when a loan was turned down due to a company reporting wrong and not fixing it after promising to do so over several months. They ended up forking over a nice sum of cash to her at the end of the day.

Being a credit card churner, I take anything to do with my credit very seriously and for me this would be worth pursuing.
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Old 12-13-2012, 04:17 PM   #7
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Being reported 90 days late in past 24 months on a LOC IS a big deal if you want to take out new loan. I had a similar issue a few years back and was going to be denied a new mortgage loan. Had to go up the chain of command at Citi Bank to get them to remove thier error. Mentioning my next call was to an attorney help get the issue solved pronto. I still have a leeter of apology from them.

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