I am so mad I could spit nails!!!! In the clean up process, i have disputed some old debt with all 3 bureaus. Experian has taken an old debt (mortgage) that they had previously corrected to show as paid, closed and never late and shows it now as late 120+ days!! WTF?!!?!? I didn't dispute this debt, obviously, as it was showing as good. I needed those points too, we're supposed to be closing on a construction loan in a few weeks. Ideas? help, please!
Hi Charaty, This crap happens all the time. Write back a firmly worded letter telling them that you did NOT dispute this TL, that is was correct in the first place, and to put it back or you'll sue em. BE SURE to say you are not disputing the TL. Forget this and they will delete it. You don't want that. You want it back the way it was, I presume. Include that you're closing on a mort. (in 2 weeks) and this will be grounds for serious damages. Send it to me (if ya want) and I'll be glad to proof read it. : )
Thanks so much fo your help- as soon as I get it done, i'll send it to you. (btw, certified to the bureau or regular post?) Charaty
Thanks, I thought so. Wonder how long it'll take to get it straight? Hopefully not long- i've been working on this cleanup since July. A few old med bills were all that was showing w/experian and we were ready to go for the loan then - BAM :-( Our broker already has the plans and everything. He pulled earlier this week, prior to this crap happening. Hope it doesn't screw us up.
As backup, contact the former lender and get a letter stating that the mortgage was paid as agreed, never late. Maybe you can use it to have the new lender rescore with the correct information to preserve your best terms. Alternatively, if the CRA continues to screw up, or if the former lender is screwing up, it may help if you seek damages.
There in lies the problem. Long story: We mailed in our payment in early 2001 (it's been so long, I forget the months it encompassed) and a few months after this, we closed our account with this particular bank. They had lost deposits, deposited someone else's money into my account, you name it. Everything had cleared the old account a few weeks prior to the closing, this particular payment had clear over two months before. As a coup de grace the bank sent this already paid check BACK to the mortgage company claiming we closed the account prior to the check clearing. The bank statement showed that the check had been paid, even had the processing numbers telling WHICH computer @ the mortgage company proccessed the check. For months I sent registered letters, faxes, you name it. Letters from the bank saying they screwed up, letters from the bank president, copies of the statement, copies of the printout of the check, everything. This entire time, every payment we sent went to the month before the date of the payment I was actually paying, pushing the 'missing' payment another 30 days behind and making the current month late. It finally ended when I opened the paper to see a foreclosure ad for the auction of my home. We had to overnight over 4000.00 to Wells Fargo (was switching from Norwest at this time) to save our home. We recieved a letter within a week dated for the day after we sent the money, stating that they had misapplied the exact amount that had started this whole problem and were applying it to our account, no payment for the following month was necessary. :-( We tried to pursue it, but it went nowhere- they wouldn't correct the credit report because we should have went ahead and paid the missing amount and let them correct the problem and reimburse us. We never saw a dime of repayment, no late fees, attorney fees or anything. A few years ago, I sent a dispute to all three bureaus explaining what had happened and all but TU corrected on my husband's and all corrected on mine. Now, a few years later, it pops up on Experian again. I do have my *proof* from years ago, but no documentation from WF stating that they screwed up and were going to fix it. I'm afraid i'm stuck.
here's the letter i've written, please feel free to post any suggestions. Dear Sir or Madam, I have recently had a problem with unauthorized inquiries on my credit report. As a result of this action, I have been viewing my credit report on a regular basis to check for any corrections rendered from the companies contacted. I was dismayed to see that your bureau has changed an account that was previously correctly posted as paid, closed and never late, to having multiple late charges, stemming from early 2001. This information is erroneous and has caused great damage to both my and my wifeâ??s credit rating, seriously jeopardizing our home construction loan that is scheduled to close by the end of September. I have disputed items with your bureau in the past, but only incorrectly reported negative credit, certainly not an account that shows as satisfactory. I would like to know why this item was changed to show incorrectly, as the account has been paid in full and closed for well over a year. I respectfully ask that you correct this account to show never late, as it rightfully should. I fear that this discrepancy will cause our construction loan to be denied. If this is the case, I plan to fully utilize the Fair Credit Reporting Act to rectify this error myself.
Is this being reported by Norwest, or WF? Do you still have your paperwork (your bank statements, bank letters, their final letter acknowledging their mistake) showing their misapplication and then correction of the posting error? If so, you can show today that their negative reporting is erroneous. If your documentation is complete enough, you should be able to show that all payments were made timely, but you may have to go to court to force any action on the part of WF. Although the CRA might have reinserted by mistake, more likely WF reinserted, creating a new error for purposes of either WF or the CRA's liability under FCRA. Dispute as erroneous, never late with the CRA. Dispute with mortgage company as never late. If the CRA "verifies", and lender refuses to remove, you are set to pursue lender. Can you document actual damages due to their error? What was your FICO score prior to the error, and what is it now? Have you been rejected for credit, or been notified of an increase in interest rates due to this CRA's report?
I disputed online immediately upon finding it, as never late. I do have a hard copy of my scores and report (both single reports and trimerge- thank you mortgage broker friend) dated prior to the addition. I don't have a copy of my scores (nor have I recieved a mailed copy of my report, but I could print) since the addition. Prior was 611/617/672 Mortgage guru has shown the prior to the loan co and they apparently though we were a good risk and asked for plans. Now they have the plans and the prior. I'm terrified they'll pull a new one and find the screw up and deny us ;-( And I was fighting sooooo hard over those inquiries- I never thought they'd pull something like this. Charaty
