What a great site! Thanks so much

Well, I am absolutely pissed at a car dealer at the moment. I'm a VP at a large corporation and should have walked away from this deal but I'll spare your the details and get right to the point. My Experian score pulled online via their CreditExpert tool is 735. I show up to the dealer, the same day, and they tell me my score is 690. They show me the report (not letting me review it of course but it was me, my address, bday, etc.) and tell me that it is based ONLY on Experian data. I show them my score and the paperwork. Anyway, it cost me $20 bucks a month. We had just sold my wife's vehicle and I didn't feel like dealing with starting over at another dealer, rental car blah blah blah. The dealer tried to tell me that "dealers" have a different algo that they use - the model is different and he's seen big differences like that before.

I think there is more to this.

Q. Have you ever heard of a 45 point difference between the "score" you can get online as a consumer and what a car dealership pulls up in their computers??
Q. Do you know if there is a way to "request a copy of the report and score used in connection with the transaction" even though it was approved? I know you can when you are denied credit.
Q. My sense is to take this up with Honda Finance and Experian, but possibly the Department of Consumer Affairs if the dealership fabricated the score but I have to get the reports. The dealer is acting above board, even inviting me to come in and look at the report for myself so I'm going to do that and compare it account by account with my 735 FICO version.

Thank you so much - and what a great site you have. SO much info and I just figured I'd toss this out since you seem to have a wealth of info on this topic....
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1. No they should be the same if they are checked the same day.
2. That snapshot of that day and time has gone. Unless the dealer has a copy, printed or saved, on the computer, then no.
3. I would do that for sure.
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Hello,

I am 23 years old and am trying to clean up my messy credit to obtain a car loan within the next few months, and buy a house with the next few years. My middle score is 500 and I have no open credit lines. I had one bank card that was charged off 3 years ago and 3 store cards all charged off as well. All my accounts have been placed into collections, except my student loans and car loan which are current. Do you recommend that I negotiate with the collection agencies and try to settle the debts in exchange for deletion from my credit report? Any help would be appreciated, I don’t know where to start, I feel helpless in trying to rebuild. By the way, I have all the cash available to pay all my collections.

Thanks in advance for any advice
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Are the collections on your report? If so pay them if they will remove the data all together. Get a letter. Keep the loans open and pay them before 30 days elapse no matter what. Try to re open the bank card if they report to bureaus. The same account number. Tell them what you are trying to do and explain to them why you were not able to pay before and you plan to make it right.
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Thank you for the quick response. I have another question. Is it ok for the credit company to report a balance and a collection agency report the same balance? Also, do you have any other suggestions for me obtaining new credit? My only major card was charged off about 4 years ago and I am now going to pay it off, I don’t think they will reinstate my account. As far as negotiating to settle charged off accounts, do you suggest contacting the collection agencies, or credit companies directly?
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They do it all the time so I guess it is ok. I do think it is double jeopordy. If one is reporting the other shouldnt. So try to get one off.
Try the collection agencies
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Capital one is on my credit its 4 years old its showing a credit limit of $3800

Capital one is on my credit its 4 years old its showing a credit limit of $3800 even though my limit was only $500. Can that be disputed as inaccurate balance. What should I do negotiate or just let it stay on my credit its the only thing on it.
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Is it a balance or a high credit limit.
If its a high credit limit with no balance leave it.
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how many points will your score go up after a Chapter 7 is removed

Hello Bo,
I appreciate your web site and you making yourself available to others.
I have a bankruptcy that is scheduled to drop off my credit report in Oct of 2007. Generally, how many points will your score go up after a Chapter 7 bankruptcy is removed?
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After seven years hardly any.
What's important is recent and current credit.
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repossed car,$11,000.00, settlement of $6,000.00, charged off in 2002

Hello Bo,
I have paid off all my old debt with the exception of one bill. It is the balance from a repossed car,$11,000.00 is the difference left after they sold the car. They are reporting this amount on my credit report but they are willing to take a settlement of $6,000.00 to clear this out. The debt was charged off in 2002. And my credit report says that it is scheduled to come off my report in May of 2009. they are still calculating interest to the balance. Tell me what is the best way to handle this.
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Who are THEY
The original creditor or a collection company.
Does the account show as a charge off or uncollectable on your report from the original creditor?
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The original company is Americredit. And they have sent it to a collection company. I spoke with a supervisor at the collection company and he was nice enough to tell me that they are not going to report it to the credit bureaus. They have 90 days to collect and then it goes back to the original creditor.
This is the way it's reading on my credit report:
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Once someting is charged off i do not think it can be sold.
Charged off means the Americredit showed a lower income or an expenditure which reduced a tax liability. I am not sure it is ok for a charged off account to be collected. I think I would contact the BBB or ask a lawyer or possibly consult an online forum that might have a lawyer who has experience with repos.

Still it is a debt and you should pay if you can. The problem with paying a collection agency on an account that is reported by the original creditor posses a problem. I do not see how paying a collection agency will change anything on your report as it stande right now. The collectiuon agency cannot report for Americredit. So you might pay and still your report shows you owe 11,000. You need more advice here I think.
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Okay,
Thanks Bo
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