I'm just not sure what I'm doing wrong. I've had VERY limited success compared to so many others on this board. Anyway. . . We're trying to get a new mortgage. I waited until PG had us over 600 on all 3 CRAs before I applied. Well, according to the scores pulled by the mort co, we're still in the 530's to 590's. The mortgage broker told us that our 2 MBNA accounts are what's affecting our scores the most. Spring 2002 we tried debt negotiation--long story made short--it didn't work. We negotiated payment plans with Wolpoff & Abramson for 2 different MBNA accounts (cc & gold option). We've been paying W & A ever since. The cc acct is showing a lot of lates but at least they were from 2002--until a couple of months ago. We now have a 30 day late for 1/2004 and 3/2004!!??!! The gold option account is similar, but it is showing a 2/2004 charge off and $6600+ written off!!! What the heck?? I sent a "you are inaccurately furnishing info. . ." letter to MBNA (one for me & one for my hubby), waited for the green cards, and then sent its letters to each of the CRAs. I got back the green cards from everyone (MBNA & CRAs), but no other response from MBNA. Ex says "was previously investigated" no change. EQ is reporting the same info for hubby, I haven't received anything back from them. TU sent us both a weird letter that says "Verification Documents not Available. . .We do not provide dispute verification responses received from creditors. . ." along with the standard list of creditor P O boxes that they always send out. I'm most concerned about the charge off. What do I do next?? Thanks for your help, debtchoked
"I sent a "you are inaccurately furnishing info. . ." letter to MBNA (one for me & one for my hubby), waited for the green cards, and then sent its letters to each of the CRAs. I got back the green cards from everyone (MBNA & CRAs), but no other response from MBNA. " -Sending the original creditor a dispute DOES NOT REQUIRE THEM TO EVEN REPSPOND unless your state law covers this. -Any enforceable rights only become effective after a dispute is sent to the reporting agency. (reasonable investigtaion) -If you are paying a collection agency, they are only required to update their listing on your credit report. -My theory is that if they are already listing a "charge off" WHY PAY AT ALL? YOU still get the charge off listing AND YOU ARE OUT OF $$$
I've been thinking the exact same thing. . ."Why am I paying this if it's going to be listed as a charge-off??" How should I handle this? I need to get it off my credit report so I can get a decent rate on my mortgage. Any suggestions? Thanks, debtchoked
