Hi, I am closing on a mortgage re-fi tomorrow morning. I just found out this morning that there is a Capital One LAD 12/97, was in BK '99/ reporting a balance. I went over my previous CR's. Up to now they reported this account $0 balance. Now Equifax & Experian show a $723 balance. I have contacted these two CRA, Experian will change, but, it will take 48 hours. Equifax say's they have to investigate 21-30 days. Any suggestions on who/how to deal with Capital One to get a quick letter so I don't end up paying this? This is slated to come off my report in a few months. Thanks, Mike
It was included in your BK? If so, give the broker/lender your bk paperwork if they don't have it already. What's the deal...have they insisted you pay it off before close?
I have given them the bk papers. Because this acct is showing as having a bal on 2 CR. They want it paid at closing. I have had this corrected on several occassions on the Cr. Experian keeps saying it's a clitch in their system. Equifax claims they can't go to back reports to correct. Theyhave to investigate.
See if they'll let you put the money in escrow. When you get a letter (preferably from Cap One) that it was discharged in BK, they return the money to you, but if it turns out legitimate, the escrow will pay it.
If it was included in the BK and you have proof of this have your lender/broker go to bat for you. They should be able to resolve it. How is it showing? CO?
When we re-fied our house 18 mos ago, we discovered an unpaid collection and a paid collection on one version of our Equifax report, the other reports didn't show it. Both of them were bogus. The idiot title company wanted us to sign a statement saying that they were ours and that we would take care of it. (Unpaid was for $1000, and the excess equity in our house was probably $200K...not too big of a risk). I told them you gotta be kidding. I'm not accepting responsibility for a collection that is not mine. So they had me file a letter with them, signed by me and dated, indicating that they were faulty items on the CR. They accepted that, and we got the loan thru Countrywide (another groups of morons). Oh well. You might suggest something like that, along with the support documents.
We closed this morning. Leaving the money to Cap one in Escrow. I called Cap one & was told that they show it as in the BK & was taken care of. I asked for something in writing & she told me she could not give me that. Once it is in the "BK" listing they no longer have any contact with the person. (We have two other cards with them. Which were both gotten after the BK.) But, if the loan officer called she could give it to him. Does that make sense? I am waiting to here back from the LO to see if he got it.
