So my boyfriend has been working on his credit for a while. He had a lot of financial issues in college, and ended up with collections accounts in his name. He finally paid them off, and was feeling so great about everything, as well as getting his credit utilization to under 90% for the first time since he was probably 19.
We check his credit yesterday on Credit Karma and Capital One’s credit checker, and his score didn’t increase, it decreased almost 40 points after the collections accounts all dropped off.
These were not his oldest accounts, his average account age hasn’t changed, so we’re both confused and upset. It feels like he’s been punished for finally doing the right thing. Honestly, if he knew paying all of that money out would cause more damage to his credit, he would have just waited the 7 years.
Additionally, he had late payments from two credit cards, his student loans, and we missed one car payment because of a bank account issue. All late payments on student loans and credit cards were taken off, but the car payment (VW) will not budge on removing the late payment. We have called and spoke to them multiple times, and all they say is “keep making payments on the car,” but we got rid of the car, so it isn’t possible. Of course, it’s 1 missed payment, but waiting 7 years for something that was an honest mistake sounds ridiculous. It’s not like we didn’t have the money to pay the car, and if other major credit card companies can do it, why can’t VW?
Sorry this is such a loaded question, but any insight as to what to do about VW’s late payment, and why his credit score decreased and what we can do to fix it would be very helpful.
Submitted March 22, 2019 at 08:11AM by c__ortana https://ift.tt/2uoGhzz
