Inaccurate Credit Report, trying to qualify for mortgage

Mar 042011
 

My husband and I are attempting to fix inaccuracies on our credit report, and do the right things to improve our credit score. Well, more specifically, his, because his is better than mine and he is the income earner, while I am a student. When I reviewed his report yesterday, I noticed immediately that there are errors. We previously owned 2 homes, and when we came into hard times, one of them ended in foreclosure, and the other resulted in a short sale. We were not asked to repay deficiencies on either one as we were not financially able. HOWEVER- our credit report reflects balances and payments due on both!(multiple times because the mortgages changed hands) I have read that this could definitely be hindering his score recovery. What is the most efficient (and fastest) way to get this corrected?

 

Also, he has a total of 3 collections. 2 of them are still reporting, the other has not reported since 2009. I planned to pay the first 2, and wondered if it will make a difference if I pay in full vs settling for a lower amount… And should we even pay the one that hasn’t reported? I read here on the forum that its best to leave it alone if its no longer reporting- that paying it could actually result in a blow to the credit score…

 

Our goal score is 640 for the mid score. Right now its 608. But that’s a score pulled from another website, and my brother informed me that it may not be the “fico” score the lenders see…

 

Please advise. It will be so much appreciated!!   ;)

 

Jen

Duplicate listings on credit report?

Nov 192010
 

On my Equifax report, I have two collection accounts that are listed under both installment accounts and collections. These accounts are only listed this way on Equifax – not on the other two, even though both collections are listed correctly on the other two.

 

Installment listings:

Asset Acceptance – Balance 0 – late 120 d – collection (OC First Natl Bank Marin – not reporting)

Portfolio Recovery – Balance 0 – late 120 d – collection (OC MBNA – also reporting under revolving credit, as would be appropriate)

 

Collection listings:

Asset Acceptance – paid collection (OC First Natl Bank Marin)

Portfolio Recovery – paid collection (OC MBNA)

Portfolio Recovery – paid collection (OC HSBC – interesting that this one lists only as collection not installment)

 

A few questions:

- Is this correct? It doesn’t seem right to be listed by the CA in twice for the same account (I understand that the OC and CA can both report, but that’s not what is happenng here).

- Is this impacting my credit score?

- How can I get this corrected? Even if it isn’t impacting my score, it may raise a red flag on manual review of my report when I go to buy a house in the spring, so I’d like this fixed.

- I’ve heard that Asset Acceptance is really hard to work with and can be punitive when you attempt to correct things with them. Can I write a letter to the CRA to get this fixed?

 

Thanks in advance!

Jessica

ready to give up

Sep 012010
 

my scores stink. there is nothing i can do about it except let time pass. i had a tu score of 579. i disputed some info on a charged off cc account. they finished the dispute by putting a balance owed back on it, which dropped my score down to 486. i disputed again to get this corrected, and now my score is only back to 514 after it has been fixed. the credit bureaus and fico are nothing more than a scam to charge banks money to give them info on who they can kill with high interest.

Please help me understand DOFD and CRTP with EQ

Jul 192010
 

Hi – I’m rusty at understanding DOFD, DOLA etc. and I read through the helpful stickies. but i’m not clear on EQ CRTP at all and could use some help.

 

I’m looking at my acutal credit report that I rec’d a month or so ago from EQ.  I paid a CO cc on 7/2009 directly to the OC. From my EQ credit report:

 Equifax date major deliquency reported was 01/2008; date of last payment 7/2009 (that is correct) – so how do I determine the fall off date on EQ? this account should fall off on 8/2014 — that is what is listed on TU and that is correct  - Date of last activity field is BLANK on my actual credit report!!  How do I possibly get this corrected?

 

Sidewinder wrote:

DOFD= Date of First Delinquency – This is the date of the delinquency that led to the charge off/status. This is NOT the first time you were ever delinquent on the account. If you are looking at your EX or TU report, it may not show DOFD, instead it will say “This account scheduled to remain until XXXXX” or something to that affect, subtract 7-7.5 years from this date and you will have DOFD.   If you are looking at your EQ report, if you don’t see DOFD, look for DOLA. EQ uses the DOLA field to report the DOFD. If your report is from CSC (an EQ affiliate) then it may show a DOFD field, it will also show a Date 1st Delinquency Reported field—ignore that, it isn’t the same thing.

DOLA= Date of Last Activity—this would be the date you last made a payment, used the account, etc.

 

Tuscani wrote:

Charged-off accounts: Remain seven years from the date of the initial missed payment that led to the charge off (the original delinquency date), even if payments are later made on the charged-off account.

 

 I believe that when I paid that CO CC, I reset myself for another 7.5 years with EQ. Doesn’t that stink -  could have done a pfd with a CA but I never had a CA reporting!!. 7.5 more years to go from 7/2009. Am I right?

 

Thanks in advance for any help or advice.

 

ETA According to myfico EQ report the DOLA is listed as 7/2009..

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ATT collections

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Over the last few days, I’ve recieved several phone calls from a weird ph # [no message].  I called the number back and it was Bay Credit (a collection agency).  Not sure what could’ve gone to collections, we did some research and found out is for our internet service that we cancelled.  We cxl’ed on Feb 18, and we recieved a bill statine payment is due on Mar 23.  I called ATT to find out how they could send to collections before the due date, and they stated the final due date is 9 March.  They sent to collections 15 March. 

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