Expert: Kathleen Eads - 4/17/2006

Question
Hi, when I was 19 yrs old I had to go to the hospital & I was late in paying the bill due to hardly any money & trying to go to college.  Anyway, that was in 1999.  I finally got it paid Oct 21, 2001.  I have just requested my credit report & I don't understand why it says date reported for this was 11/2004.  Why did it take so long & do I have to wait 7 years from this date & not the date I paid in full (10/2001)?  Why does it say date assigned 12/1999 but date reported 11/2004?  I'm confused!  Also, my credit report 2 years ago was 741 & now it is 694.  Any help or advice you can provide would be greatly appreciated!  Thanks.

Answer
April,

Contact all 3 bureaus to find out when this was reported.  If they all say 2004, file a dispute with each bureau, indicating the item was paid in 2001.  This will start an investigation.  The original creditor will have to confirm your information, file information to the contrary or have the item adjusted.  

The bureaus will notify you of the results of your dispute.  (www.transunion.com/www.equifax.com/www.experian.com)

Kathleen Crabtree