I recently got a copy of a Merged Credit report when I applied for a morgage. The First page of this report shows a summary section where it shows an account distribution and below fico scores etc. There is also a place that shows total monthly payments. The monthly payment amount that this report far excedes what my monthly payments are which are about $800 it list 5700. I have been in touch with Credico to try and get this corrected. My question is, is this 5700 being factored into my credit score? The 5700 appears to be pulling some paid off accounts, like a car payment, as well as the total amount of a couple of credit cards. If any one has knowledge of the merged report, or Kristie if you could help with this question it would be appreciated. Thanks to all.
This 5700.00 will certainly factor into a debt ratio should a lender review it. What do the scores show? Are they good scores above 640? If not,then contact the bureaus to update the amount you have outstanding. The header should accurately reflect monthly payments (give or take a few hundred not a few thousand)and also breakdown installment vs. unsecured or credit cards so that it is clear that some of the balances result from car loans or secured loans. It sounds like either very old data which is in need of an update or an error. let us know if they correct it immediately. Remember, if you get denied a loan because of this innaccurate data, then be sure to point that out to the bureaus. Stan wrote: ------------------------------- I recently got a copy of a Merged Credit report when I applied for a morgage. The First page of this report shows a summary section where it shows an account distribution and below fico scores etc. There is also a place that shows total monthly payments. The monthly payment amount that this report far excedes what my monthly payments are which are about $800 it list 5700. I have been in touch with Credico to try and get this corrected. My question is, is this 5700 being factored into my credit score? The 5700 appears to be pulling some paid off accounts, like a car payment, as well as the total amount of a couple of credit cards. If any one has knowledge of the merged report, or Kristie if you could help with this question it would be appreciated. Thanks to all.
