11-03-2012 04:32 PM - edited 11-15-2012 08:21 PM
Hello there, folks. First and foremost, I'd like to thank the contributors to this board for being an excellent source of education. It's fantastic to have a reference from both everyday folk and professionals alike in one little spot.
So. . . Been using ScoreWatch and purchasing random TU reports for the past few months, as the wife and I are in the process of chasing down a first-timers' FHA mortgage. So far, so good. We've managed to get credit usage down to the elusive 50% mark with a sort of snowballing payment methodology (it was far lower at the beginning of the year, but then there was the whole wedding and honeymoon thing. Reserves got tapped HARD. You know how it goes), and I'm currently sitting at EQ 579/TU 605. I know the current balances being reported are lower than actual because of this post from TheNewWorldMan, but I'm trying to be very patient (except in this case, which you'll soon see).
I discovered the concept of GW letters. Figured "Hey, why not? All they can do is chuckle softly and throw it at the mail guy's head." Well, of four (or was it five) that were sent out, three resulted in good things. One was to a local credit union where I do 95% of my banking. They wiped the account in question out from even existing. The other was a single letter to GERCB for dings on JCPenney and Old Navy cards (first marriage, plastic-happy ex who didn't understand that "it was on sale" means jack when one can't cover the bill, still completely inept at money management, etc. Bet someone can relate). They were gracious enough to revise the history and report it almost immediately.
Well, see, what had happened was. . . EX and TU took care of business almost immediately. EQ however. . . well, apparently they're the more stubborn of the three (and slowest to reflect positive changes from both personal observance and reading bits from other people). So EQ keeps reporting the JCP account as having three 30day'ers on file. I disputed. It came back. "Nope, we show three 30day'ers. We verified it with this stone tablet covered in Etruscan runes and this novelty pen shaped like a fish's head. That, and Melvin and Zephram in maintenance said it looked right to them. Go away or I shall taunt you a second time." (paraphrased to how it sounds in my head right about now). Needless to say, I'm getting miffed about it, and I want results now, by jingo! It's a Saturday evening, so there's naught to do as far as contact goes. . . or is there?
I called up the kind folks at GERCB (yes, they're getting a bit of butter and cinnamon because they helped a fella out) as per the most recent dispute report to verify that they'd covered their end. After a brief hold, some cat named Paul talked to a manager and found that they had in fact submitted updates to the bureaus. Any further issue would be on them being able to read reading when they can't read writing. So what to do? How do I get this response letter into someone's hands quickly? Like Monday, I want someone saying "Oh. . . oh, well. . . Gee, we screwed this one up, didn't we?" FAX!!! I need a fax number. Dear Google, hook me up yet again with your deep-reaching shadowy fingers! I found one of several (will happily post them if someone in charge says that's an okay thing to do), dialed it on my cell to make sure, and had to spend the next thirty seconds getting my vision back in line because of the shrill handshake tone that shot me in the face (note to self: don't put the phone up to ear when dialing a number that's probably an actual fax machine. It hurts something fierce).
Downlioaded the mail form from EQ, filled it in with the report number and offending account info while avoiding offedning whoever will read the thing, merged it with a scan of my response letter, and off she goes to the incoming tray via FaxZero (paid the two bucks to have an ad-free cover page). Now, whether this will be the tray of rekindled hope or the tray of anguish and shattered dreams. . . I suppose we'll see the outcome soon enough.
GW letters are great. EQ is slow.
11-03-2012 04:43 PM
Long read, good results. Keep at it!
11-03-2012 04:47 PM
Thanks. I had to get the annoyance out of my system. :-)
11-03-2012 05:18 PM
Thanks for the laugh! I had a similar situation with a stufent loan. EQ is still showing one 30 day late (4 accounts), even though the student loan company removed all (2-30 1-60) the lates from all bureaus on all the accounts. However, I am afraid to redispute. I think the creditor is annoyed with me calling, and she has resubmitted twice. I am afraid if I redispute, she will just get tired of it and resubmit all the lates. I am better off living with the one 30 day late and letting it go, or should I redispute it again? I'd appreciate any advice.
11-03-2012 05:27 PM
A.) You're quite welcome.
B.) I should state that TU did glitch for a minute. They had removed it then put it back in play for some reason. I mailed them a copy of the letter, and it was gone after all of a week. If you have a written statement from the loan folks, it might be a good idea to send them a copy with a mail-in dispute. Things done with ink seem to carry a heckuva lot more weight with the bureaus, or so it would seem.
11-03-2012 05:29 PM
Though I will say that I am still green at this whole business. Perhaps someone with a longer list of trials and triumphs will chime in.
11-03-2012 05:35 PM
I don't have anything in writing. The student loans came off of deferment, and I threw away the notices thinking they were those annoying 'change in terms' letters or statements. So it was 30 days twice and 60 once before I caught it and got it on autopay. However, the lady was super nice and willing to delete them if I did autopay. Since it hadn't updated after several times of her 'manually' updating the bureau, I called her several times to try to get it fixed, as only EQ is not complying. This last time I called her, she sounded annoyed. I don't want to bother her cause it is not on her end. And if I refile disputes, she is the one who gets them. My fear is that she'll put all the lates back in. So I have nothing in writing to send in. This is the only solid difference in my reports, and EQ is 483 today, TU was 619 yesterday, and EX FAKO is 594. We need a 580 midscore, so I am hoping I can scrape by in March without EQ mattering, but it'd be nice to have the added security. My last step at this point is just getting util paid down. Don't think I will pull 100 EQ points off of util/aging alone. ): Any ideas you have for me would be great.
11-03-2012 05:44 PM
Ahh, I see. Yeah, I've learned recently about actually looking thru the mail instead of just saying "Oh, this redundant waste of paper again. . . Blah *toss at mail guy's head*"
(no, not really. Why would I throw an envelope at myself?!?)
Gotta love EQ not getting the picture. Maybe the utilities getting trimmed down plus aging will buffer it a bit to a low 500ish. If the others elevate up in kind, you might be alright.
11-03-2012 05:52 PM
We are good as of now with the other two reports above 580, but, I hate to have that conflicting info out there on a triple bureau. Plus, with the good results I have had, I am kind of hoping for a 620 midscore by early March (lower interest). Might raise flags at the bank. But thanks any way for the advice and humor!
11-03-2012 05:52 PM
Of course, and best of luck to you!
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO