Error on Transunion report & applying for mortgage in 3-4 weeks!!! Tuscani?

[Anonymous]

Hi,  I will be having my credit checked in about 3-4 weeks for a new house.  Transunion is showing an auto lease account that was never late and was paid in full back in 1997  as Unrated or Bankruptcy.   The problem is that I did have a bankruptcy but that it wasn't filed until 2004 !   So it is impossible for that account to be part of the BK.    My question is:  Since I will have my credit run in 3-4 weeks for my house should I dispute it or leave it be?   My TU score is 679.  EQ: 668  EXP: 691

     I am thinking that correcting that info may bump my score a couple points so that my new middle score is at least 680.  But I am afraid it could temporarily lower it and screw me come mortgage time.    What is everyone's input on this?    Thanks.

Message Edited by flyers on 06-01-2007 10:20 AM

[Anonymous]

transunion is tricky. My mother in law had some issue with them, submitted documents that proved  error and even stated the item could be removed from her credit bureau; but instead of them removing it, they kept it on and stated that it was "updated" paid in full and closed.  All the other bureaus took it off.  You have to be careful, becuase instead of getting better it could get worse.

Another example, My WAMU account balance was showing inaccurately on my bureau. We asked Transunion to update the report, what happened was they COMPLETELY REMOVED THE WAMU account from my bureau and that was my oldest account and one of my largest loans. My score fell by 60 points.  They advised they would put it back on in a few weeks. I am also in the process of getting a mortgage - boy was I not happy. Luckily my scores were good enough without that tradeline, but I would have had one of the lowest mortgage rates around if they hadnt messed up.  Oh, heres the kicker, when I called them on it, they stated my credit card company authorized the removal.  My crdit card company told me they never got such a call - I dont know who's lying.  But just be careful.  Ask your loan officer what to do or work on your other bureaus. Experian seems more flexible.  Try to get your equifax score up also, and that should help. 

[Anonymous]

Did your broker tell you to get up to at least 680?

[Anonymous]

I disagree with geyoung. TU isn't tricky. TU is evil.

Finally got tired of politely asking TU to correct my address along with a photocopy of my SSN card, Driver's License, and a utility bill. Sent it CMRRR with a veiled ITS. We're bumping up close to the 30 day window.

[MidnightVoice]

---

Noah_Bodie wrote:

 TU isn't tricky. TU is evil.

---

For me, EX is evil and TU is wonderful.  TU corrects all their mistakes 

[Anonymous]

My lender said that with a middle 680 I will qualify for some better programs.    I only need TU to go up 1 darn point.

[Anonymous]

---

flyers wrote:

My lender said that with a middle 680 I will qualify for some better programs.    I only need TU to go up 1 darn point.

---

Ask your lender about Rapid Rescore.

[Anonymous]

I will ask my lender about Rapid Rescore.  However,  do you think it would be wise to dispute this in hopes of getting a few points or too risky with TU and they may drop points?     

     Tuscani, do you have any knowledge of situations like this?

[Anonymous]

flyers,

Do you have anything in writing from the leasing company saying "Our bad"? If so, you could fax it to TU.

[Anonymous]

Noah_Brodie,

I have nothing in writing from that bank.  EXP & EQ both have the correct info and TU had the correct info on a report a few months back.     How can an account that was paid in full satisfactory 7 years before a BK suddenly show up as "Unrated or BK".   Someone at TU isn't too bright.    I'm sure if I did an online dispute that it would be fixed with 1-2 weeks.  My fear is when they correct it that for some strange reason my score could drop instead of going up.   I'm at 679 and trying to get to 680 by late June. 

[Anonymous]

Correcting it would NOT make your score go down.

I'd call 'em. This thread has some TU voice and fax numbers.

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=5494

You are correct. The thinktanks robbed TU of everyone with a brain. Even stole their scarecrow, tinman and lion. TU Special Handling is the exception. They are issued brains.

[Anonymous]

Sorry im just responding. My loan officer really wanted me to get over a 700, which happened within 2 weeks, but what I had to do was pay down EVERYTHING and ask every creditor to re-report and also had to contact all the credit agencies with CREDIT REFERENCE LETTERS, which state your current balance etc. I mailed a copy overnight as well as got fax numbers and telephone numbers where the bureaus could contact someone and verify (You have to be persistent that you need a number and extension of someone the bureau can speak to - they can also speak to a financial center manager, like a branch person, because they also have access to all your accounts, i.e. if you own a bank of america credit card, a manager can also verify, your current balances, etc). 

You would have to call everyday and ask for the department that "expidites" the reports. DONT LET THEM TELL YOU THERE IS NO SUCH DEPARTMENT - there is. 

Tell them you are getting a mortgage and you need to have your report updated asap. Transunion takes long though. They always had some sort of delay.   Experian an Equifax would get it done in 2-4 days, trans can sometimes take 4-6 days; but thats generally the timeframe I experienced.

Start on Monday, pay everything down to a dollar or so, then get credit reference letters faxed to you, organize it and fax to each bureau with a letter/dispute requesting an update.  Do an online dispute as well.  Also make sure you ask your creditors to re-submit your info or fax the bureaus the letter directly too.  You might want to get a direct fax number to the "mortgage or expidited" department at the bureaus. 

Its gonna be aggrevating, believe me, but just stick to it and you should have everything updated by the 11th of June.  Stay on it.  

PS - when your middle score reaches 720, you're in a whole nother ball game.  Between 650-719 is ok too, its all relative.  Call BANK OF AMERICA mortgage department and just pick their brain to have a second option.   And the person who listed creditboard.com was right.  Check their forum out, they have loan underwriters and analyst online. 

[Anonymous]

noah_bo.....

"correcting it could not make your score go down......"

DONT SAY THAT - THEY MESSED MINE UP AND IT DID MAKE MY SCORE GO DOWN. 

Also my mother in law had the similar problem and they added further deliquency to her account. I guess it depends on what rep they speak to at your creditors office.  If someone gives them one wrong piece of info, they are going to put it right on your report and say they "got it from your creditor"

My mother in law had a student loan that was in deferrment, they told TU that it was 60 days late. We found out that was an error, it looked like it was late, but wasnt and TU put that right on her report.  Before that, she disputed the account because it stated 30 days late - so it went from 30 to 60 - HUGE PROBLEM.

Work on your other reports and you should be fine.  If you want to try with TU, go ahead, but I would caution you, because if they mess it up, you will need 30 more days to fix it.   I also notice that as the days go by you are awarded a few points (I guess for lenght of history), so sit tight on the TU thing.

It you update, one other account, that might boost your TU score.   Try to figure out if you can pay anything else down.

[Anonymous]

Maybe I'l just sit tight on the TU error and hope another month of aging gets me 1 more point to 680.   I only have a $105 balance on a $5000 limit CC so not much to pay down to improve my score.

Message Edited by flyers on 06-02-2007 09:03 AM

[Anonymous]

I would get a copy from the auto leasing company showing that this was paid off. Many of these places can fax it to you the same day. Give a copy to the bank and see if they will use it to grant you the rate you should have been given. I would also mail a copy to TU and threaten suit if they don't remove it permanently. Tell them that you are applying for a mortgage and will hold them responsible for the difference in interest over 30 years if they don't fix this promptly. I expect you couldn't actually get that in court, but I'm not sure the person opening your letter would know that.