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?