Ive been rebuilding my credit for 2 years. Today, I wake up to find out my Experian Fico Score dropped 22 points.
Here is the story:
I have a car financed thru United Federal Credit Union. A few months ago, I noticed a disbursement on my account for almost $8000. My payment had changed as well up to almost double. Come to find out, I had switched insurance companies, and my new company had failed to send proof of insurance. I faxed it in immediatly.
Fast forward a month:
My wife and I were meeting with a builder. Knowing my credit wasnt "quite" there, we decided to at least meet and start planning to determine what we needed to do. They soft pulled my credit and my car payment was still showing as double the normal payment, but my credit score was unaffected. I immediatly called the credit union, and was told it should be fixed by Monday.
2 weeks go by:
I let me payment go a couple weeks past the due date waiting for them to adjust the minimum amout due. They never fixed it, so I called again and was told that the lady that handles that was "behind" a couple weeks but she would make an exception for me and get it fixed that day. I paid my normal amount online.
Today:
I wake up today to find out my score had dropped 22 points. I immediatly get on MyFico and come to find out, because I paid my normal amount, the credit union reported me as late. I called and they said they would have to pull the phone record to determine who was at fault. We have another appt with the Banker and Builder today, and this really takes the wind out of my sails. I was told that they would call me this morning and let me know something, but looking at the way this was handled all along, I just dont have much faith in them that they will fix this issue.
Its times like this I really just want to give up. Ive put so much time into rebuilding my credit from 450 to 622. And in one swift stroke, they have taken all my work away from me. Very Depressing!