I know there was a long thread on this last summer, but I have to add mine, cus I am gonna puke. I disputed the balance on a tradeline...which for some reason is the only tradeline I have on Equifax, and they DELETED the tradeline. So, I went from 695 to 0 in one fell swoop. Here's the prob...and I admited that I screwed up...my tradeline was my car payment through Union Acceptance. They went belly-up last year and were taken over by SST. SST is only reporting to TransUnion....so my good Union Acceptance tradeline said a $2500 balance when it is only $700. I disputed it...God, I am stupid...with 'INCORRECT BALANCE, SHOULD BE $700" and noted that it is now owned by SST. So I guess good ole Equifax deleted because they could not find Trans Union. My dilema now is...I am going for an FHA mortgage and my TU is 690 and my EXP is 720. I am too afraid to pull Equifax, but with no tradeline, I am assuming it will be..is it possible..0. I am going to call Equifax on Monday...got their letter too late today...to see what to do, but what do people here suggest? Should I call SST and beg them to report the tradeline to Equifax? Will they? Am I screwed? Please someone cheer me up...12 years in a tiny condo with 2 AWESOME kids, plus I have ovarian tumors and a busted knee....my life sucks right now, SOMEONE GIVE ME POSITIVE NEWS!!!!
Can you actually get a mortgage with only one tradeline? I believe the answer used to be no. Perhaps by using utility or other accounts not on your credit report? In any case I would get a retail store card and a secured visa/mc card somewhere and start building credit.
On my Experian and Transunion I have multiple tradelines...for some reason, my Equifax HAD one tradeline, now it has none....still looking for an answer...anyone out there?
fha doesn't follow normal underwriting guidelines. i think the key thing is that the two reports that do report tradelines are positive. each situation is different so i can say how it will affect your loan, so talk to your mortgage lender. you have the ability to use "alternative" forms of credit, ie, utility bills, insurance premiums, etc.
Hey, thanks... I am still gonna call both SST (car loan) and Equifax to see if they can put the tradeline on. I paid the loan on time for years! Man, oh man! I am just afraid with the Equifax file wiped out that I cannot get cc's now...if they pull all three, won't it be bizarre that one is empty? I have 2 tradelines on EXP and TU that were installment loans for a bank in my hometown, neither report to Eq. My old car loan from bank 1 Eq dropped off 4 months ago, and I have a JCP card that only reports to TU...plus my current car loan that is only reporting to Tu. I hope it works out!!!!
This happens from time to time ithink. Take it easy. It always seems to work out. Have you talked to them yet? ???
Butch, no...I received the letter from Equifax on Friday when it was too late to call...so I am going to call first thing Monday and see what they'll do. I am nervous because of Union Acceptance being out of business and SST not reporting to EQ as the new debt-holder (is that the correct term??? Holder of the car title???). SST is not open until Monday, either, but they are pretty good to deal with. When I asked them to start reporting, they did...but only to TU. I am just sooooo crazed these days! I have my fingers crossed!!!!
Another thing that people have suggested, but they can charge a fee for this... Is that you submit the information to EQ for the tradelines that you want them to add to your file, and they tell you how much it'll cost to put them on there. So, if you take the tradelines from the TU and EX report, and ask EQ how much will it cost to add these to my file with you; then they should allow you to add them. The caveat is that these accounts won't ever be updated, so they'll just be there to give the score calculator something to chew on.
Oh cool: So hypothetically speaking, I could take the negs that are reporting on my TU, submit them to EFX and EQ, PAY them, and get all of my reports to at least "even out". Hey, I'd bet that then I could see how far off my scores are when the information is identical! On second thought, probably not a good idea... lol A. J.
Okay..since the board went down, I called Equifax and they told me "too bad, we need Union Acceptance to tell us to put it back on"...SST, the new place that has the car loan, is so SWAMPED with people calling them with the same problem, I have to wait a week for them to talk to me about this. Long story short....I was an idiot for disputing the balance, and now I have a 702 TransUnion Fico and a 695 Experian Fico and a goose egg Equifax fico...how will lenders look at this? Plus why did my screen name change?
