I am livid! I am finally closing on a house this week. The mortgage is based on a mine 640 FICO and I have fought hard to get there. Today some BS CA called Collectx shows up on my report and drops my EQ FICO 62 points to 604. I have never heard of these people and I don't owe them a dime. How can I get this square in two days! I will sue these bastards to the gates of hell if this falls through. This smells awfully suspisious to me.
To get your points back, dispute it online with EQ. Items disputed on EQ are not figured into your score. As for the item, I'd get a lawyer, quick. Someone here had a very similar situation recently (tnoble?). Contact EQ and explain the seriousness of the situation- demand it be cloaked. CA's troll around looking for mortgage inquiries- they know that people are more likely to pay them if it's dependant upon you getting mortgage approval. Unfortunatly, a lot of the time they're placing the items on the wrong persons report!
Because of my zip, I can't dispute online. THey make me go through CSC. A phone call is the best I can hope for and it is almost impossible to get through. No matter the outcome, I will find out who this is and I will go after them with every legal means possible. It is bad enough dealing with old OCs who are reporting wrong. This CA is not mine and doesn't remotely match any of my past OC records. There are some scummy people in this world. I hope their mothers don't owe them any back allowance.
dispute - some of the CRA's wont include it in the fico. get validation from the CA - they have to stop collection activites since this is w/in the 30 day window. I found a link here somewhere over the weekend to a court case or legal opinion of some sort where it was determined that reporting to the CRA is in fact a collection activity. Tell them to delete it until they can validate. You probably don't have enough time for this though
I just found this CA's web site, complet with e-mail address of the CEO and General Counsel. I sent them a very straight forward letter about this fraudulant account and the consequences they face if they cause me financial harm. IE: Suing for fines and DAMAGES! I gave them 24 hours to respond. I also found that CSC has a website now that allows online disputes. I disputed it and we will wait and see what happens tomorrow.
Re: Re: HELP!LOST 62pts. CLOSING in 2 DAYS! I'm familiar with it and will get it done if it comes to that. Thanks all. I am seeing some light
Re: HELP!LOST 62pts. CLOSING in 2 D iI've done dozens of mortgages where the credit waqs not pulled again prior to closing. how long has it been since they pulled your CR? If its within the last few eeks, you may not even have it pulled again.. also, search for "temporary injuction" on getting it off your CR.
If this CA account is truly not yours, tomorrow I would go get me some good stationary and send a very strongly worded ITS letter FEDEX overnight to these slimeballs. Skip the validation process and go straight for the CA's jugular. The account is not yours so there is nothing to validate anyway. Make sure you tell them in your letter in no uncertain terms that if the account is not removed from your credit files within 48 hours you will sue them in United States District Court for defamation of character and violations of the FDCPA in the amount of (how ever much your new house is worth) for actual damages and as much as punitive damages as a jury will allow. You also need to find a good consumer attorney ASAP. It may cost you some money but he/she will know how to really put the squeeze on the CA. Ed Combs law firm comes to mind. I personally would not pay that CA a dime. If you end up losing your house because of that CA, there is probably a good chance they might end up having to buy you another one if you take them to court or at least get a decent settlement from their attempt at extortion.
Re: HELP!LOST 62pts. CLOSING in 2 D I was under the IMPRESSION it is a "DONE DEAL" 48 HOURS BEFORE CLOSE... They most likely WON'T pull it, if they have not done it by now... I thought THIS LATE IN THE GAME...all they are waiting for is all the "PARTIES" to sign all the TONS of paperwork.
Re: Re: HELP!LOST 62pts. CLOSING in My credit reports were pulled on the 18th of the month and we closed on the 30th, no second report was ever pulled. They only ever pulled one, ask your mortgage broker if the underwriter has signed off on your credit reports yet, that is what I did, if he says yes then you don't have a thing to worry about. Good Luck! Tac
Re: Re: Re: HELP!LOST 62pts. CLOSING in MORE... FOLLOW UP ON THE OTHER PROBLEM...maybe the first 2 or 3 mortgage payments can be paid...BY THE SLIME BALLS.
To get your points back, dispute it online with EQ. Items disputed on EQ are not figured into your score. smontoya5 ================ If yer lucky you might get back 10 or 15 perhaps 20 of the points.
Re: Re: HELP!LOST 62pts. CLOSING in 2 DAYS! 1*they have to stop collection activites since this is w/in the 30 day window. jason =============== 1**Wrong ******Once a CA receives a V.L. they have to stop collection. 30 Days has nothing to do with it.*****The END ****** LB 59
Re: Re: HELP!LOST 62pts. CLOSING in 2 DAYS! Don't they use your middle score anyways? jason ================= Correct but that's not the only problem . The other issue is they will not grant the loan unless you pay off the CA . The END ************************* LB 59
Re: Re: HELP!LOST 62pts. CLOSING in 2 DAYS! Underwriter signed off on our loan nearly 2 months prior to closing (new construction) Last time they pulled cr was just before sign-off. I understand your jitters...completely!! Everything will work out just fine. Handle it as others have suggested...dispute, write ca, etc. As far as closing goes, I betcha everything will go without a hitch!!!
Re: Re: Re: HELP!LOST 62pts. CLOSING in 2 DAYS! Is this true? When i read the FDCPA it specificly says during the 30 day window. Are there some opinon letters, case law, or experiences to support this? if you're right then it would be a big boost to my efforts.
Re: Re: HELP!LOST 62pts. CLOSING in 2 DAYS! You know, in this case, if this does adversely affect closing on your house, I would think that the actual damage amount to be substantial. As such, it would either be the cost of the house should the closing fall through, or the monetary value of the increased points (if any) are assessed. Regardless, forget extending any civility to this company, you are already facing undue durress over this 'account' - sue for every last cent!
