Credit Card Center Advertiser Disclosure†
06-01-2012 04:33 PM - edited 06-01-2012 04:38 PM
Hello, Please give me some advice!
Okay so I'm probably toast here. I got a credit update this morning from my CMS, it states that RMB Inc. (Medical Collection) for $1523.00 which opened on my experian report originally on 03/2009 and was scheduled to fall off on 06/2012. Its Now reporting a Last Reported Date of 06/2012 and that the date of status is also 06/2012. So now its popping up like a brand new collection as of Today!?!??
I have no clue on what to do because I can't pay it off as I'm in underwriting, I can't dispute it as I'm in underwriting. I've told my LO about this and he said it's a good thing he doesn't have to re-pull my credit and that we need to close as quick as possible. But I asked him, isn't the lender going to do one last pull prior to closing? And he said yes!
I'm at the escalation desk, with a higher Authorized Underwriter at the moment with Wells on a FHA loan which was submitted on May 21st.
What do I do? Thank you...
06-01-2012 04:58 PM
What is the DOFD?
06-01-2012 05:21 PM - edited 06-01-2012 05:29 PM
Date Opened: 03/2009
Reported Since: 07/2009
Now it shows:
Date of status: 06/2012
Reported since: 06/2012
Last Reported Date: 06/2012
** But it does still say Date Opened 03/2009
"Here's a snap shot"
Collection account. $1,523 past due as of June 2012.
06-02-2012 06:04 PM
m3jonny - I am sorry that has happened to you.
It does say date opened was 03/2009 - IF it becomes an issue with the underwriter, point out that the debt is at least three years old.
Do you have any idea of what the debt is for? Who the OC is? My suggetion would be to DV with the CA - then they have to stop all collection efforts until they respond to the DV letter you send.
Keep your fingers crossed!
06-03-2012 07:31 AM
06-03-2012 10:37 PM
The date opened, and the DOFD is not the same thing... the date opened is the date the colleciton account was opened with this specific colleciton company. That can change over and over again, if they move the debt to other entities, other collection companies...
The status, report dates, all can change, and have relevancy in some ways with the lender, but the date YOU need to find out is the DOFD -- if it was originally scheduled to fall off 6/12, then that is the same timeframe it will fall off no matter what the DOLA, or the last update is. this is becase they cannot legally change the DOFD.
The reported date of 6/12 and opened date of 6/12 will pose a problem to underwriting. They will consider this a new debt, because they are not experts on credit scoring. Rest assured it is not a new debt.
You need to find out that date, the DOFD. You can only find that out on reports straight from the bureaus. If the DOFD is showing correcttly, and this will fall off 6/12, you might be okay. They are taking a last ditch stab to collect on an old debt, is what it sounds to me.
06-14-2012 10:12 AM
Did they pull again before closing?
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.