I haven't been keeping tabs on my credit report, and it turns out that something that should have been marked as settled years ago is still on there. I kept the letter saying it had been paid for years, but now I can't find it. It may be in storage, or it may have been thrown out with a lot of my old credit card statements a few months ago.
Here's an excerpt from my transunion report:
CDN IMPERIAL BK OF COMME
Account #: ******
Condition: [Derogatory]
Balance:
Type: Installment account
Pay status: Bad debt/collection/skip
Payment: $11 Monthly (due every month)
Opened: 07/05/2004
Reported: 06/05/2009
Responsibility: Individual account
CIBC Credit Card
Account #:
Condition: [Derogatory]
Balance:
Type: Revolving account
Pay status: Bad debt/collection/skip
Payment: $27 Monthly (due every month)
Opened: 01/01/1999
Reported: 05/01/2004
Responsibility: Individual account
EQUIFAX REPORT:
CIBC Overdraft
High Credit/Credit Limit: Not Available
Account Number: XXX...732
Payment Amount: Not Available
Association to Account: Individual account
BalanceAmount: $0.00
Type of Account: Installment
Past Due: Not Available
Date Opened: 2004-07 Date of Last Activity: 2004-07
Months Reviewed: Date Reported: 2009-02
Status: Bad debt, collection account or unable to locate
Payment History: No payment 30 days late
No payment 60 days late
No payment 90 days late
Prior Paying History: At least 120 days past due ( 2005-03 )
At least 120 days past due ( 2005-02 )
At least 120 days past due ( 2005-01 )
Comments: Account paid
Update freeze requested by credit grantor
CIBC CARD SERVICES
Phone Number: Not Available
High Credit/Credit Limit: Not Available
Account Number: XXX...226
Payment Amount: Not Available
Association to Account: Individual account
BalanceAmount: $0.00
Type of Account: Revolving
Past Due: Not Available
Date Opened: 1999-01 Date of Last Activity: 2004-05
Months Reviewed: Date Reported: 2004-06
Status: Bad debt, collection account or unable to locate
Payment History: No payment 30 days late
No payment 60 days late
No payment 90 days late
Prior Paying History: Three or more payments past due ( 2003-11 )
Two payments past due ( 2003-10 )
Comments: Settlement made
No update since date reported
Why is the fact that a settlement was made only listed in the comments (on transunion it's not even reflected at all). Shouldn't the status reflect that the account was settled, closed, or paid as agreed? The way it is now, it is killing my score, even though this was resolved 5 years ago. Likewise, the overdraft was paid in full a long time ago as well. It should reflect that in the status, no? I checked my credit today expecting a good score and instead it was terrible, despite the fact that i have very little debt and the balance on my credit card is kept low. I'm pissed to see this stuff still on there, though I suppose i should have followed up better at the time.
I no longer have the account numbers and I can't find the settlement letter for the credit card account, though I do have the proof of payment for the overdraft account. I think I threw it out by mistake with all my old credit card statements when i moved. It's going to be a pain ********** to get this stuff removed.
Here's an excerpt from my transunion report:
CDN IMPERIAL BK OF COMME
Account #: ******
Condition: [Derogatory]
Balance:
Type: Installment account
Pay status: Bad debt/collection/skip
Payment: $11 Monthly (due every month)
Opened: 07/05/2004
Reported: 06/05/2009
Responsibility: Individual account
CIBC Credit Card
Account #:
Condition: [Derogatory]
Balance:
Type: Revolving account
Pay status: Bad debt/collection/skip
Payment: $27 Monthly (due every month)
Opened: 01/01/1999
Reported: 05/01/2004
Responsibility: Individual account
EQUIFAX REPORT:
CIBC Overdraft
High Credit/Credit Limit: Not Available
Account Number: XXX...732
Payment Amount: Not Available
Association to Account: Individual account
BalanceAmount: $0.00
Type of Account: Installment
Past Due: Not Available
Date Opened: 2004-07 Date of Last Activity: 2004-07
Months Reviewed: Date Reported: 2009-02
Status: Bad debt, collection account or unable to locate
Payment History: No payment 30 days late
No payment 60 days late
No payment 90 days late
Prior Paying History: At least 120 days past due ( 2005-03 )
At least 120 days past due ( 2005-02 )
At least 120 days past due ( 2005-01 )
Comments: Account paid
Update freeze requested by credit grantor
CIBC CARD SERVICES
Phone Number: Not Available
High Credit/Credit Limit: Not Available
Account Number: XXX...226
Payment Amount: Not Available
Association to Account: Individual account
BalanceAmount: $0.00
Type of Account: Revolving
Past Due: Not Available
Date Opened: 1999-01 Date of Last Activity: 2004-05
Months Reviewed: Date Reported: 2004-06
Status: Bad debt, collection account or unable to locate
Payment History: No payment 30 days late
No payment 60 days late
No payment 90 days late
Prior Paying History: Three or more payments past due ( 2003-11 )
Two payments past due ( 2003-10 )
Comments: Settlement made
No update since date reported
Why is the fact that a settlement was made only listed in the comments (on transunion it's not even reflected at all). Shouldn't the status reflect that the account was settled, closed, or paid as agreed? The way it is now, it is killing my score, even though this was resolved 5 years ago. Likewise, the overdraft was paid in full a long time ago as well. It should reflect that in the status, no? I checked my credit today expecting a good score and instead it was terrible, despite the fact that i have very little debt and the balance on my credit card is kept low. I'm pissed to see this stuff still on there, though I suppose i should have followed up better at the time.
I no longer have the account numbers and I can't find the settlement letter for the credit card account, though I do have the proof of payment for the overdraft account. I think I threw it out by mistake with all my old credit card statements when i moved. It's going to be a pain ********** to get this stuff removed.