Tuesday, December 18, 2007
TransUnion AGAIN deleted the Cap One Date CLOSED: FICO 633 - TrueCredit FRAUDULENT score 711
Instead of correcting the address and sending the investigation results with the added Date Closed for the Cap One account, Trans Union DELETED the Date Closed for the discharged Cap One account AGAIN and it did NOT correct the address!
The 12/1 FICO score factors for the 633 score:
Negative Score Factors
1. You have a public record and a serious delinquency on your credit report.
Number of your accounts that were ever 60 days late or worse: 5
Number of public records on your credit report 1 Record
2. You recently missed a payment.
Your most recent late payment happened 1 month ago
3. You have multiple accounts showing missed payments or derogatory descriptions.
Number of your accounts with a missed payment or a derogatory description 6 accounts
4. You have too many credit accounts.
Number of your credit accounts currently paid as agreed 36 accounts
Positive Score Factors
1.You’ve limited the use of your available credit.
Ratio of your revolving balances to your credit limits 3%
2. You have an established credit history.
Your oldest account was opened 14 years ago
Average age of your accounts 5 years
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The 12/12/07 TrueCredit score: 711
That’s why you should never even look at the CRA credit scores. They are a TOTAL fraud. Few if any lenders use them.
The credit bureaus deliberately produce higher scores than Fair Isaac so that you won’t even look for anything wrong.
Notably, just like Fair Isaac, TrueCredit also does NOT include the field label for the Date Closed. So unless you KNOW how critical the Date Closed is for TU old charge-offs and discharged accounts, even the most thorough review of the TrueCredit report won’t result in discovering what (missing) data lowers your FICO scores.
And that’s of course why I will NOT work with clients who don’t want to or can’t spend the $100 on myFICO reports (3 reports before and after disputes).
The 633 FICO score is 78 points lower than the 711 TU score. The FICO scores PINPOINT the problem:
2. You recently missed a payment.
Your most recent late payment happened 1 month ago
Now you just look through all the derogatory accounts and here is the Capital One account from the 12/12/07 TU TrueCredit report:
BINGO!
No date closed, that’s the problem.
As I previously posted, the FICO scores increased to just below 700 every time Trans Union reported the correct Date Closed for this Capital One account.
I have NO idea what it takes to get TU to report complete and accurate PERMANENTLY.
Long time readers may recall that I very much opposed calls for legislation requiring the reporting of credit limits. I wanted the FCRA to be interpreted literally. It requires COMPLETE reporting. If Congress had amended the FCRA to require credit limit reporting, TU could now claim that ONLY specifically mentioned data has to be reported. And Congress would have to amend the FCRA again to specifically state that Trans Union has to report the Date Closed for all derogatory accounts.
Notably, Experian and Equifax don’t report the Date Closed and it’s not in the FICO scoring software for Equifax and Experian. I hope that everybody can see now how important it is to take the FCRA literally and even more important, to prohibit credit scoring for any credit, insurance, employment, rental, etc. rating. I don’t object to collectors using credit scores, don’t mind them getting screwed.
I am so angry at Trans Union, their contempt for consumers, the Trans Union DELIBERATE and so successful actions to LOWER the FICO scores.
The intentional deception.
*** The TrueCredit snake oil scores
The INCOMPLETE TrueCredit report.
*** To get the almost complete reporting (no scheduled deletion dates), you have to go to the PRINT view.
*** The DECEPTIVE ADVERTISEMENTS throughout the TrueCredit CREDIT REPORT!
I thought I wasn’t seeing right. People PAY for these reports and they are subjected to the most horrible false and misleading advertisements, from LendingTree to debt negotiation.
And in case you’re wondering why I requested that my client subscribe to TrueCredit - I wanted to ensure that TU can’t claim that Fair Isaac is to blame for the incomplete and incorrect reporting. And since TrueCredit is NOT Trans Union, but Trans Union owned, it should be named in the lawsuit.
I’m currently working on a new topic at Fight Back about my client’s nightmare. I will post our disputes, the TU corrections, the related FICO scores, ... Obviously, my client needs an attorney to file suit ASAP.
My client’s pre-approvals and TU investigation results are sent to the address that’s over a year old. Her creditors could be RAISING her interest rates, LOWERING limits or CLOSING accounts due to the low FICO scores. (See WaMu 26% interest rate)
Trans Union is ignoring our disputes.
I sure hope that we can find an attorney - she lives in VA. Interested attorneys can contact me directly.
2008 - 2009 FCRA - FDCPA violations • Trans Union incorrect Date Closed and address • (0) Comments • Permalink
