Hello, I checked my credit report because I want to get a new mortgage and I have a charge off item shown (on Experian only) from HFC. HFC sent me a statement in 1997 claiming I owed $1200 to them. I called and asked for documentation as I owed nothing to them. They claimed to have purchased an account from Signet Bank (now part of First Union). I told them that account has been paid in full. They went away and about once a year i get a letter from a CA (really HFC) claimimg I owe them money. I call and tell them I don't owe you any money and they slink away. If I push for disputing and validation or verification on this item, do I risk having the item placed on all three credit reports while I fight them ? This account is so old the SOL has expired and would be uncollectable. First Union claims to have no record of this account (It didnt go with the merger). So, Do I let sleeping dogs lie, and not risk getting this shown on two other reports or do I go after them like a rabid dog and chew their hearts out and eat them with a fine Chianti and some fava beans? Remember I want to get a mortgage this summer not in 9 months or a year. I also don't want to waste a lot of my time on this, I just want a good mortgage rate and easy approval (no doc - no verification). Thanks, JohnM Eq 726 Tu 710 :> Ex 694
If I were you I would call the lender or broker you are considering obtaining a mortgage from now. Tell them the situation. Because of the age of the C/O they may just let it slide especially since you say you have paid it and it isn't on the other CR's. You don't have to apply for a mortgage now but I think it's a good idea to start discussing your credit situation way before you plan to buy so that any problems can be cleaned up. My husband has a collection from 1996 and our lender said that because the SOL was up they didn't need it to be paid. Kim
Thanks for the help.. I have talked to a good friend who is a mortgage broker and he told me with anything above a 650(middle score) he could get me approved. I am trying to get my report as clean as I can and my scores as high as I can in order to get the BEST terms available. I still wonder if disputing with one CRA will cause the item to be reported to all CRA's (if the CA claims to validate). JohnM
I am trying to get my report as clean as I can and my scores as high as I can in order to get the BEST terms available I still wonder if disputing with one CRA will cause the item to be reported to all CRA's (if the CA claims to validate). JOHN M It really stinks having to get the fake numbers changed do to a fraudulent scoring fleece. lb59
