“Potentially Negative Closed” on my report?
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I’ve just signed up with a credit monitoring service. According to the report I got, my score was lowered by 75 points because of “Potentially Negative Closed” that I have.
What does that mean exactly? I have one negative account, which is an unpaid doctor’s bill for $88. Can I contact them and pay them off to get it off my credit report? If I do not recognize this transaction, how can I dispute it? All my other accounts are in good standing.
Your thoughts are appreciated.
Do you recognize the account?
There are several issues here. To start with – do you recognize the account? Is it yours or not?
If the account doesn’t belong to you then yes, you should dispute it and get it off your credit report. If the account does belong to you then there’s no point disputing it because it won’t go away. In that case, considering the low balance of the account – the best way to get it off your report is simply to contact the collection agency and pay it off.
Regarding the “Potentially Negative Closed” issue, I’m not sure what it means, and I doubt if it really hurt your score at all. Most credit monitoring services use third party score model that aren’t Fico. The NextGen Fico formula that was introduced on 2009 ignores small-dollar “nuisance” collection accounts in which the original balance was less than $100.
My guess is that this “Potentially Negative Closed” issue is a nuisance by itself, and that your “Real” Fico score did not suffice.
The only place to get a real Fico score is myFico.com. Credit Karma gives free credit scores to consumers, based on their TransUnion credit report. It’s within 50 points from your Fico. Good enough if you’re just curios about it. They also provide free monitoring service. Take a look at it.
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