HELP!!! Issue with dispute removal!!

[formy3kids]

So I'm currently undercontract to close on my new home and I just found out that there is one collection account with equifax that still has the statement that I am disputing the account. I faxed in a letter to the credit bureaus to remove and all have removed except equifax. They stated that the CA returned a response that the comment is reporting correctly. So I called supervisor at equifax to have removed and they stated to contact the CA. So I called the CA and they advised that they would not remove and that this is the reason that disputing is not good. what can I do at this point?

[drkaje]

Shane the mortgage man has a great thread about this with the correct numbers to dial. 

[llecs]

Welcome to the forums!

I'd suggest reading the following:

Common Abbreviations

Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.

What Steps Do I Take - great for learning the repair process.

and Example letters - PFDs, GWs, DVs, etc.

If paid, send them a GW letter. If unpaid, mail a PFD. Is this CA a road-block for your mortgage?

[formy3kids]

Yes this account is my only stumbling block. My LO informed me that I had 2 conditions. Have aid statement removed from my 2 CA accounts. It was removed from all but this particular account on my equifax report .I really don't know what to do if I pay it, it will lower my score and if I do not get it removed then I will not meet the conditions of the underwriter. PFD is not an option.

[formy3kids]

BTW this is a medical collection if it matters

[Booner72]

It is a rumor that paying collections lowers your score.  FICO scores from the date it was placed for collections NOT the "date updated" which would happen when they updated your account to 'zero'.

I paid off 9 or so medical collections and no point loss (Except 1 point bc I STUPIDLY disputed them after I paid them so they would show as paid, rather than waiting for the CA to update).  This was a condition of my loan to pay them so I had to do it.   I WISH i knew what PFD was then, but I didn't.......regardless of that.............

Do you think they would accept PFD?

Have you googled "HIPAA PROCESS"?  It's a way to take care of medical collections.  It's confusing so you have to spend some time reading about it so you know what you are doing.

[Walt_K]

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@Booner72 wrote:

It is a rumor that paying collections lowers your score.  FICO scores from the date it was placed for collections NOT the "date updated" which would happen when they updated your account to 'zero'.

I paid off 9 or so medical collections and no point loss (Except 1 point bc I STUPIDLY disputed them after I paid them so they would show as paid, rather than waiting for the CA to update).  This was a condition of my loan to pay them so I had to do it.   I WISH i knew what PFD was then, but I didn't.......regardless of that.............

Do you think they would accept PFD?

Have you googled "HIPAA PROCESS"?  It's a way to take care of medical collections.  It's confusing so you have to spend some time reading about it so you know what you are doing.

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+1000.  Besides being confusing, I don't think OP has enough time to take that route if they're wanting to close on this place. 

If I'm understanding all of this, you have unpaid medical collections.  Why is PFD not an option?  Because the CA has said no already?  When you talked to them, did you tell them that you are withdrawing your dispute?  Maybe if you send them a communication withdrawing the dispute, then you'd have something to show EQ.  What was the basis of the dispute?  Is this a valid debt?  One thing I would be concerned about is whether withdrawing the dispute would be an admission of the debt's validity that would reset SOL.  Can anyone comment on that?

[YHWHUDAH]

Bonner72 said

It is a rumor that paying collections lowers your score.  FICO scores from the date it was placed for collections NOT the "date updated" which would happen when they updated your account to 'zero'.

I paid off 9 or so medical collections and no point loss (Except 1 point bc I STUPIDLY disputed them after I paid them so they would show as paid, rather than waiting for the CA to update).  This was a condition of my loan to pay them so I had to do it.   I WISH i knew what PFD was then, but I didn't.......regardless of that.............

Do you think they would accept PFD?

Have you googled "HIPAA PROCESS"?  It's a way to take care of medical collections.  It's confusing so you have to spend some time reading about it so you know what you are doing.

Bonner72, Yes this is so true. I paid a collection and nothing happen to my score neither!