Conference call with creditor?

[stephv71]

I got a call today from the credit company that works for the lender.  We have an old (2009) charge off from Dell for $1900 and they want to do a conference call with them and us.  I thought that was really weird.   I already gave them an LOE and let them know that I was making payments but they never credited them so I stopped paying them and asked for an accounting.  They never responded and I never paid.   I don't understand this conference call and why we have to do it.   

As a side note, we have a strong file with 20% down, 6 months of reserves and credit scores of around 680.  I think this is unneccesary!

[topa]

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@stephv71 wrote:

I got a call today from the credit company that works for the lender.  We have an old (2009) charge off from Dell for $1900 and they want to do a conference call with them and us.  I thought that was really weird.   I already gave them an LOE and let them know that I was making payments but they never credited them so I stopped paying them and asked for an accounting.  They never responded and I never paid.   I don't understand this conference call and why we have to do it.   

As a side note, we have a strong file with 20% down, 6 months of reserves and credit scores of around 680.  I think this is unneccesary!

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I would probably consider going with another broker. I agree, this is definately taking it too far.

[stephv71]

I may be too far into it to start all over again, or I would.  I just think it's odd that the request did not come from the LO; I got a call directly from the company investigating our credit.   Also, this is just two days after the LO told us we were "credit approved".   Can I refuse to do this?

[topa]

Editing this post - I missed the part where you stated that the request did not come from your LO. I would suggest what the last commenter states. Call your LO immediately, I doubt that he would agree with it - unless the bank did indeed request it - in which case it would have come through your LO.

[ezdriver]

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@stephv71 wrote:

I may be too far into it to start all over again, or I would.  I just think it's odd that the request did not come from the LO; I got a call directly from the company investigating our credit.   Also, this is just two days after the LO told us we were "credit approved".   Can I refuse to do this?

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First of all, do not communicate back to anyone but the loan officer who approved you. Secondly, you can tell them to go pound sand and take your business elsewhere. Thirdly, there should not be an 3rd party involved in "checking" or analysizing your credit. Only the underwriter, processor and your loan officer are the ones to normally handle your file.

I'd tell them to go pound sand.

[stephv71]

I agree...I will call them back and tell them that I am not going to respond to any requests outside of the Loan Officer.  I'm also going to question the loan officer as to why they would need to go into this detail for a 5 year old account under $2000.  Ridiculous the hoops we have to jump through