HELLO .I am trying to get this house everything was going fine until. they pull the 3 report i had to pay a back school bill. now it shows on the credit report that it was payed but one .its the tran credit one. i even have a lettter saying payed in full but the bank said they want to see it on the credit report. is there any thing i can do? the letter isnt what they want. how long do it take to show payed on a credit report? i dont want to lose this home thank you for any help. ps i payed this bill before i went looking for a house.
If you dispute it as paid with the bureaus it will take about 30 days. You might want to call the creditor and see if kindly asking them to submit an update to TU will get you anywhere. Explaining that it was never updated, and you risk losing a mortgage because of it. Let them know the receipt you have is simply not enough for the mortgage company.
Nope, can't do anything about it. Even though now it's paid in full once upon a time it became delinquent and became a negative account. Negative accounts stay on CRs for seven years, and it does not matter if in year #6 you paid it off. Why? To keep peoples' credit histories in the toilet. It's a conspiracy between creditors and the CRAs.
He needs it to show as paid. Of course that can happen--it's the correct information. And everything doesn't have to stay seven years. Many people have derogatory information removed every day.
