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04-19-2017 10:09 AM
04-20-2017 06:48 AM
Long story short I've done a lot of credit cleaning in past year. In process for closing on my home that's set to close on May 26. Last night I received a letter stating a owe $213 to something that besides not believing it's mine, for the 200 bucks I don't mind shutting them up and paying.
Problem is my score is a 628, and if this hits and drops it below a 620 I'm out, I won't qualify. What I'm curious about is the letter is dated April 10th. On the back it says if they do not hear from me disputing this within 30 days they will consider it me taking responsibility and this is a valid debt.
Am I correct in thinking this won't hit my credit until after that 30 day period? It hasn't popped up on either of my moniotiring programs yet.
My mortgage guy is trying to push closing sooner. I'm also thinking that by May 3rd or so sending them a letter disputing it. By doing that wouldn't it create a buffer zone for them to acquire the proof of it's mine or not and keep it off my credit just a little while longer?
Please help...I've worked very hard this past year, paid off a lot of junk and been very diligent. Valid or not, the company that stating I owe them anything is equipment charges from a cable company I had FOUR years ago...I definitely returned the equipment. At this point I don't care if I pay it, I just don't want to stop me from owning a home.
Maybe I'm not understanding this but why not just contact them and get it settled before it hits your reports. Is it already sent to collections...?? If not just take care of it...or maybe I'm just not getting it here....sorry if I am not understanding this...
04-20-2017 07:38 AM
Ask your loan officer. I would ask for a pay for not reporting from the CA and just pay it. If you just wait and hope this doesn't end up on your report for score purposes or DV it, that's all well and good, but you would be committing mortgage fraud. At closing you will sign a form saying you have disclosed all debts and that nothing has changed. Most likely you won't get caught, but is it worth it?
06-02-2017 03:10 PM
DO NOT PAY THIS. Send a dispute letter via certified mail. UNLESS it's on your credit report already. In which case, call them and offer a pay for Delete ONLY. Let them know what's going on AND that you do not believe it's yours, but you would be willing to pay to get it off. It's not worth holding up closing for it, but check your credit report. A lot of times, people wait until they see hard pulls to do this because it gives them a higher likelihood of getting paid, even if it's not legitimate. It's foul, but I'd check your report. They should not be able to put it on there without having proof of the debt and if you don't know what it is, just send as pps suggested, a certified letter around day 20. They cannot post it until it's a confirmed debt and you are entitled to proof of the underlying debt. If it's not on your credit report, it's probably a scam.
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