Inaccurate debt

Calico

Calico

Est. Contributor
Messages
2,197
Role
  1. Other
I looked on one of the credit websites to see how much payment I had left for my Kirby Vacuum and it was still at $257 and it didn't go down like it should. So I called the finance company to see my remaining balance and I had $95.00 so I paid it off since I had the money in our account. Now I will see if that will make my credit score go up than it being stuck at $257.

But it said my bank credit card debt was $891 so I checked my bank account and it only had $184 on it so I knew the website was inaccurate. Sure my credit score is good and it stays in the 700s. I have always paid my credit card bills in full and only had to pay an interest fee maybe 3 times in my life and only had one late fee for Paypal Credit because I forgot I had bought something online and thought I had paid it.

Does anyone else have this issue too?

I assume it's the two companies not updating the information to the credit score and they only submit my payment to them, not how much is left to pay. I worry this will affect my credit score because it will think I have more to owe when in fact I do not and it will keep going down.

My husband does use his credit card and always pays it but because my name is on it too, it also affects me. And for some reason it's not showing my Wells Fargo credit card for how much I have on it to pay. I assume it's because they don't submit to them how much I have on it because I always pay it off every month.

How have you fixed it? Do you call the credit score or call the company itself for their inaccurate for how much you owe them?

I know I probably shouldn't be complaining because my score is an A. It's not like I even borrow money or get loans from banks but I have been denied a new Wells Fargo credit card once that would have earned me 2X more in points whenever I used it and I would have closed my other Wells Fargo credit card. So that would be a reason why I should care about my inaccurate debt.
 
The balance numbers in the credit report aren't particularly timely updated. What matters more really is your payment history overall (as long as you don't have number in excess of your income as balances).
 
Reply
  • Like
Reactions: abdilly, BobbiSueEllen and Bilberry
You can also contact the credit report sites and ask them to check and amend the figures. If they fail to do so and continue to report incorrect figures you can take enforcement action through their accrediting association.
 
Accrediting associaton? Chortle. No such organization exists. You can dispute transactions but they are not obliged to AMEND anything. All they'er obliged to do is investigate with the people who reported the debt to them. You then have to proceed against the company that is reporting the information. If they assert the information is accurate, you can have a statement disputing that added to your record.
 
It takes a while a few weeks to someone's months.
 
So in the USA we have the fair credit reporting act, FCRA for short. It states that all furnishers of data report it fairly and accurate.

things to keep in mind
- credit reporting agencies can be 30-60 days behind on updates
- third party apps like credit karma and credit sesame or life lock can be even further behind.
- you have the right to dispute any item on your credit file.
- some companies only report ne time a month. Like the first week of the month, and it s 30 days delayed

so if the account with Kirby does not show closed now that you paid it off, dispute it saying that it was paid off and closed.

Ps: high balance on the credit file means the highest balance the account ever had. So my car loan will say the 10,000 I financed as the high balance, but the current balance should be maybe 60 days ago
 
Calico said:
I looked on one of the credit websites to see how much payment I had left for my Kirby Vacuum and it was still at $257 and it didn't go down like it should. So I called the finance company to see my remaining balance and I had $95.00 so I paid it off since I had the money in our account. Now I will see if that will make my credit score go up than it being stuck at $257.

But it said my bank credit card debt was $891 so I checked my bank account and it only had $184 on it so I knew the website was inaccurate. Sure my credit score is good and it stays in the 700s. I have always paid my credit card bills in full and only had to pay an interest fee maybe 3 times in my life and only had one late fee for Paypal Credit because I forgot I had bought something online and thought I had paid it.

Does anyone else have this issue too?

I assume it's the two companies not updating the information to the credit score and they only submit my payment to them, not how much is left to pay. I worry this will affect my credit score because it will think I have more to owe when in fact I do not and it will keep going down.

My husband does use his credit card and always pays it but because my name is on it too, it also affects me. And for some reason it's not showing my Wells Fargo credit card for how much I have on it to pay. I assume it's because they don't submit to them how much I have on it because I always pay it off every month.

How have you fixed it? Do you call the credit score or call the company itself for their inaccurate for how much you owe them?

I know I probably shouldn't be complaining because my score is an A. It's not like I even borrow money or get loans from banks but I have been denied a new Wells Fargo credit card once that would have earned me 2X more in points whenever I used it and I would have closed my other Wells Fargo credit card. So that would be a reason why I should care about my inaccurate debt.
Click to expand...
Wow, your credit score is in the 700’s? That about twice what mine is! Stay padded, they don’t score you on that....yet.
 
Back
Top