Plan on buying a house in the next few months, was bad in the past (Had a few 90 days and one 150 days but clean since 1/2000). Also had a paid collection from TCI back in 6/99 (TCI never sent me a bill - I just paid to get it out of the way). I was checking my credit score with TransUnion - they had me at 620 on 6/2000, 650 4/2000 and 673 in 11/2000 yet when my bank pulled an Equifax last week they had me at 638??? I'd like to dispute the collection item since they never mailed off a statement and would like to see if I can dispute the 150 day item (Not sure how to go about it) to raise the score. Any help here - would love to be at close to the 700 level (And I'm shocked since I've been thinking that I was close all this time). Not sure if 638 is good enough for a home loan. I'm hoping since I've been a good boy since 1/2000 (2+ years) that they'll look past my bad habits. Thanks for any help on this... GT
I'm not sure, but I think if you are doing FHA, 2 years of clean history is what is most important. You should get your scores from all 3 CRAs. When applying for a mortgage, the score that matters most is the middle score, but all the information from all 3 is factored in.
Like "the other" said, get your Credit Reports from all 3 CRAs. See what's on each one, the derogs might not be on all 3, or you might find another derog that you don't know about. The way to dispute the 150 day item is "never late". You take the chance that if it isn't verified, the entire tradeline could be deleted. Which isn't necessarily a bad thing, unless you are short of positive tradelines. And even then, I'd rather lose the tradeline, the 150 is killing you . Since your under a time crunch get your CR's online and also dispute online. You'll still have to wait up to 30 days for the results of your dispute. If you're not familiar with the CRA sites for online disputing, use the search function here in this forum, you'll find a ton of info here. www.equifax.com www.experian.com www.transunion.com
Hey guys - Thanks for the heads up. I agree on the 150 thing. But any idea what letter to write to the bureaus regarding the collection and the 150 day event? I saw the other forum that had letters, but couldn't find any relating to late payments/collection. Also, I've heard different opinions on how to write it. One said to type it out, another said to write it so as to not make it look like flooding. Any ideas on this (And thanks again for the help)... GT
Hey guys - Thanks for the heads up. I agree on the 150 thing. But any idea what letter to write to the bureaus regarding the collection and the 150 day event? Send this one to the CRAs: http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&pgnum=1&postid=85491#post85491 Replace the line that says:Name of Creditor/Agency, Account #_________ With: TCI Account # 123456 - NOT MINE - REMOVE ??? Account # 234567 - NEVER LATE Now obviously, I'm doing a little guessing here, I don't know if the collection is yours or if you were or weren't 150 days late, I'm not the moral police anyway. If you don't feel comfortable with these don't use them, they would probably be the most effective though. I saw the other forum that had letters, but couldn't find any relating to late payments/collection. The letter I put the link in for above is the one you use to dispute a tradeline or tradelines with the CRAs. It doesn't matter what type of tradeline it is. The validation letters are for sending to collectors, but since this is paid off, no need to worry about it now. If they happen to verify the tradeline, comeback and ask for help validating. Also, I've heard different opinions on how to write it. One said to type it out, another said to write it so as to not make it look like flooding. Either way will work. The idea is that a hand written letter looks less professional and therefore is less likely to be deemed "frivolous". The typed one will work fine. The last piece of advice I have to offer is skip the letter and dispute online. If you are going to go for a mortgage in a few months, this would be the quickest way to go.
Thanks for the help. I'll give it a shot tonight. Assuming it doesn't work, how long should I wait before trying again? I tried it once, waited 30 days, tried again and I got a letter saying "You've already disputed this." - does it have to be 90 days or something??? GT
Technically, they should accept your dispute every 30 days. Definately wait for the results of the current dispute before sending off the next one, especially if you're disputing the same item(s). I usually wait another 30 days after it's verified to go again.
