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03-17-2011 08:28 AM - edited 03-17-2011 08:33 AM
I'm just starting the process of trying to get approved for a mortgage loan and I have several accounts that say "Account information disputed by consumer" because of past attempts at removing these negative accounts. Some are with CAs and some are with OCs. All of these are out of SOL but the CAs have recently dated the accounts. I asked the lender what my options were if I have no plans to pay them and she said to write a letter to them directly saying I'm not disputing them but to please provide validation. But is this the right thing to do because I don't agree with the dates? Or should I try going through the CRAs instead to get the wording removed?
Also, I have 2 recent chargeoffs (from last summer) from utility companies because apparently I didn't get the final bills when I moved and no longer used the companies. I'm fine with paying them off but should I attempt to negotiate a Pay for Delete with them first? Even if I pay them off now, they are still going to be negative entries.
ETA: I'm in TX if that makes a difference.
03-17-2011 08:34 AM
What dates do you disagree with? DoFD is the one that matters - Date Opened is when the CA got the file. DoFD determines when it drops off of your reports.
03-17-2011 08:37 AM
I'm going off of the lender's report she pulled for me and it shows Last Active and has dates from this year. She mentioned those dates to me yesterday and said they were making it look like it's new.
03-17-2011 10:12 AM
I always have my clients deal directly with the credit bureaus when removing dispute remarks. We've had a 100% success rate.
475 Anton Blvd.
Costa Mesa, CA 92626
714-830-7000 is answered by a live human being, tell them you need the Executive Customer Service Team to end the dispute(s), hours are 8AM-5PM Pacific Time
1550 Peachtree St, NW
Atlanta, GA 30309
404-885-8300 is answered by a live human being, tell them you need to speak with someone in the Executive Consumer Service department.
555 W Adams St
Chicago, IL 60661
312-985-2000 it has a machine greeting but just stay on the line and you are transferred to a live person, tell them you need to speak with someone in the Special Handling Department, you'll have to wait a little bit as they need to connect to customer service then get it elevated to the Special Handling Department (it is hit or miss, TransUnion often proves to be the most challenging)
If you cannot get the Special Handling Department, then when contacting the normal customer service reps you should say:
I need to dispute the compliance condition remarks code of "AID" (Account In Dispute) because I am no longer disputing the account.
The customer service rep should be able to immediately end the dispute, as in during the phone call.
There are some situations that disputes cannot be ended by the consumer, and must be ended by the creditor, such as if there are multiple disputes on the same trade line. Remember to always be patient with the customer service reps, as they are trying to help you but may have limited communication skills depending on where the customer service call center is based. If there are confusing terms being used, don't be afraid to admit you do not understand what they are saying and ask for them to reexplain or to transfer you to someone in the U.S.
03-17-2011 10:19 AM
CAN WE STICKY THIS?
03-17-2011 10:24 AM
Utilites are usually pretty good for PFD's if you call them directly and give the the whole story and offer to pay in full immediately. If you so not get PFD's there is a really good chance any lenders are going to want to see those lates at least a year old prior to a home loan.
03-17-2011 10:25 AM
Welcome. I am working with TransUnion on a better method to remove the disputes, as the method I went over above still seems to be tough for some people. Once I hear back from them I'll create a new post with some further info on TU.
03-17-2011 01:06 PM
This should be sticky-ed!! This question comes up all of the time and Shane's post is super helpful.
03-17-2011 01:43 PM
Well my contact at TU has moved positions within the company. Her replacement is helpful, but was less optimistic about the chances of removing the disputes immediately by contacting their normal customer service phone number. He stated that the dispute remarks are always put on by the creditor, so they can only be removed by the creditor and not even by the credit reporting agency (TU), when you dispute the AID comments with TU he said it can take 30 days for the creditor to respond, he suggested dealing directly with the creditor for a quicker response (which we all know how that normally goes).
He said that consumers disputes do not directly result in dispute comments being listed on a trade line, and if dispute comments do appear, it is the result of the creditor putting them there... I have never disputed something on my credit report, and even if I did I think I'd have a tough time determining if the comments appeared directly because of my actions or indirectly from the creditor putting them on after they've been notified of the consumers dispute. This is something that would be good to know if there happen to be any dispute comment reporting experts reading this thread.
In the end, he did say if someone asked for his assistance with removing a dispute comment he would be happy to help and was confident he'd be able to assist in getting it removed, and frankly that is all that matters in relation to qualifying for a mortgage. Next time a client needs one removed I'll ask for his assistance and will let everyone know how it goes.