02-01-2013 01:53 PM
We went through the whole process and everything was fine.....but at the last minute they said they wanted my hubby to have more time on the job. He was at his current company for 9 months..... And his previous employer for 2.5 years, same line of work. So fast forward to now...almost a year later and in a better position financially, both our scores went up....they were at 640ish.
I really find it hard to believe that with $20,000 down we will not qualify because of a STUPID $67 collection from 3 years ago. That's just crap!!!!!!!!
So 3 days before closing, they denied it because your husband's job history? That seems insane, didn't they already know his job history when you started the loan process?
Was it a scheduled closing date...like you had "clear to close" and then it got denied, or it was just a date that was put on a the sales contract by the realtor at the beginning when you signed the sales contract?
02-01-2013 01:57 PM
02-01-2013 02:05 PM
Here is the info about the collection that came on my report: Thank you for looking into this!
|Account Name||ENHANCED RECOVERY CO L||ENHANCED RECOVERY CO||ENHANCRCVRCO|
|Account Type||Collection Department / Agency / Attorney||Collection Account||Collection Account|
02-01-2013 02:06 PM
Here is the specific information on each account you've opened, past and present. Positive information about your accounts stays on your report indefinitely. You'll also find creditor contact information conveniently located with each account – to help you resolve any issues.
Sort By Status
Name Account Type Past Due Balance Date Opened
02-01-2013 02:08 PM
See that line where is says
Terms 1 Month
That is ILLEGAL!!
Fire out disputes targeting that. You can't have a term on a collection.
It will go away.
02-01-2013 02:13 PM
02-01-2013 02:13 PM
SERIOUSLY???? It's that easy???
So what do I say in the dispute? Exactly what you wrote? That it's illegal to have a term on a collection? If so... you are one AMAZING person and I'd owe you so much!!!!!!!!!!!!
02-01-2013 02:23 PM
Can I do the dispute AND send them a GW letter? Will the agency know that I tried to dispute it? I'm wondering if I dispute it and then it does not get removed if the collection agency will be "mad" and not help me at all.
I'm new to this so excuse my ignorance.
02-01-2013 02:28 PM
Dear Sir or Madam,
This letter is a formal complaint that you are reporting inaccurate credit information on my report #xxxx. Because of the mistakes on my credit report, I was wrongfully denied credit recently for a home loan. My social security number is xxxxx and my current address is listed above. My last address was xxxxx. My contact number is xxxxx.
The following information is incorrect and therefore needs to be corrected or deleted from the report as soon as possible:
ENHANCED RECOVERY CO L (Account Number):
-This account is showing to have a term of one month. This account is in violation of the FDCPA Section 807(10) prohibits the "use of any false representation or deceptive means to collect or attempt to collect any debt or to obtain information concerning a consumer."
According to Section 611 of the Fair Credit Reporting Act, I am requesting that these items are investigated and deleted from my report as soon as possible. Also in accordance with the FCRA, please FULLY investigate my disputes and verify with the furnisher of information, not just your own data. Be advised that the description of the procedure used to determine the accuracy and completeness of the information is hereby requested as well, to be provided within 15 days of the completion of your reinvestigation.
Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.