Just wanted to say I found this site two days ago, and have already spent hours reading through posts, performing searches, etc. I am hoping to get a mortgage through FHA at the end of this year. This should be an interesting time for my credit scores...my student loans come out of default next month, and with the knowledge from this site, I am sure I can make a lot more adjustments as well. So far, my problem areas are Sears and Capital One. Sears is an open account, but I have a lot of late payments on my CR that I want to clear up. They told me on the phone once that after paying them $3000 they would clear the previous 2yrs of blemishes, but stupid me got nothing in writing Oh well, I am trying to work it out with them. I have no outstanding CC balances anymore, no collections, bankruptcy, judgments, or liens. Just paid charge offs and late payments. The only thing in the past two years are a couple of late Sears payments, and of course the student loans. Lemme ask this... if I had a student loan, and after not paying it was sold to someone else, and it is still reporting the balance on my CR (so now instead of a $5,000 balance, it looks like $10K ($5K on two separate companies). Does this happen a lot? I have disputed via CRA with no success. It came back verified. I will use some of the methods I am learning here, but wanted to know if this is common. Also, I have a sudent loan with a $0 balance, that month after month has a status of 120 days late. Is it true that I can just call the CRA, and tell them on the phone "How can I be 120+ days late on a $0 balance?" and they will remove it? Thanks SO MUCH TO EVERYONE WHO POSTS here! This is definitely the way to do things...sharing the knowledge!
No double reporting ALLOWED for one account... One needs to be changed to TRANSFERRED/SOLD BALANCE $0
Thanks George, I will keep trying on that double-reporting item. Anyone have an idea about the second item? If you have an item with $0 balance and it is showing as 120+ days late, can you just call the CRA and they will agree it doesnt make sense, or do you still have to go through disputing it normally?
Well I called Equifax today to get my current address corrected, and also asked about the one account that had a status of 120+ days late yet had a 0 balance. The Equifax rep explained to me that even though the 'status' is classified as 120+ days late, that they have not been actively reporting me each month as being late at all. She said it is just an indication of my past paying practices with that company, and that the 'Status' column on the Equifax report does not necessarily reflect the amount currently being paid/not paid. So now I have the question... does the 'Status' affect the FICO at all? I mean, if this loan was transferred/sold, and they have not indicated me as paying late in almost 5 years, is the status of '120+ Days Late' on EQ's CR really hurting me? I have tried disputing it to clear it up, but to no avail. Anyone have an idea about that 'Status' column?
ONE*Lemme ask this... if I had a student loan, and after not paying it was sold to someone else, and it is still reporting the balance on my CR (so now instead of a $5,000 balance, it looks like $10K ($5K on two separate companies). Does this happen a lot? I have disputed via CRA with no success. It came back verified. I will use some of the methods I am learning here, but wanted to know if this is common. TWO* "How can I be 120+ days late on a $0 balance?" brian71 | ======================== ONE*Common but not legal! TWO* You were late at some point in time prior to the pay off that reduced the balance to zero. Paying the final payment does not erase the payment history. THE END ** *** ** LB 59 """""""""```~~~```'""""""""" It don't take a very big person to carry a grudge.
