Just Married, Home Loan Prep, found utility collections - Need Advice

[Anonymous]

Hi folks,

Just got married, just completed my student loan rehab, and we are going to be buying a house before the year is out, its a big year!.  I need advice from all of your brilliant minds on 3 things.  I'm trying to clean things up on the CR so we don't get murdered on our mortgage rate.  Thanks in advance for you help!

Sincerely,
Tom

There are 3 things I need advice on:

1.  I called American Education Services and they said they contacted the CRA's on May 9th to remove the ugly stuff.  I pulled my free reports today and they ugly stuff is still there.  I called AES back asking for a copy of the letter they sent and they told me they couldn't give it to me.  Has anyone else been in this situation?  What should I expect? I was hoping for some type of score increase.

2.  Utility Collection - I'm pretty sure its from my college apartment, I have no clue if I truly owe it or not.  Never got anything in the mail on this.  I've heard if you call these people about old stuff it can have a negative impact on your score.  Heres the info (taken from Experian):

NCO-Marlin
Address:  PO BOX 8529, Philadelphia, PA
Account #:  "1351...."    <-whats up with not giving the account number, how does that help me?
Original Creditor: Allegheny Power
Status: Collection Account. $310 past due as of Apr 2009
Status Details:  This account is scheduled to continue on record until Feb 2010
Date Opened: 08/2004
Type: Installment
Credit Limit/Original Amount: $310
Reported Since: 08/2004
Terms: 1 month
High Balance: N/A
Date of Status: 08/2004
Monthly Payment: $0
Recent Balance: $310 as of 04/2009
Last Reported: 04/2009
Responsability: Individual
Recent Payment: $0
Account History: Collection as of Apr 2007 to Apr 2009, Aug 2004

3.  Utility Collection - Same deal with this one, never got a letter in the mail, I'd happily pay but don't want to risk waking the sleeping bear.  Heres the info (taken from Experian):

ALLIANCEONE
Address:  1684 WOODLANDS DR STE 15, MAUMEE, OH 43537
Account #:  Full # is there, won't post it
Original Creditor: Columbia Gas
Status: Collection Account. $48 past due as of Oct 2003
Status Details:  This account is scheduled to continue on record until May 2010
Date Opened: 10/2003
Type: Collection
Credit Limit/Original Amount: $48
Reported Since: 10/2003
Terms: 1 month
High Balance: N/A
Date of Status: 10/2003
Monthly Payment: $0
Recent Balance: $48 as of 04/2003
Last Reported: 10/2003
Responsability: Individual
Recent Payment: $0
Account History: Collection as of Oct 2003

[llecs]

1) AES...I'd give them 30-45 days from the date they initially told you that they were going to help you. Most CSRs are unfamiliar with the reporting of their own company and some companies only update once a month.

2) NCO - if you have the $$$ to PIF or you are beyond SOL, then send them a DV letter. If they respond, and you agree, then offer them a PFD for removal.

3) Alliance One - same way with NCO. Send a DV then PFD.

[RobertEG]

If a collection agency posts to your credit report, they are required under FDCPA 809(a) to send you what is callled a written "dunning notice" within five days of that posting.

There is no legal reason for a CA to post to your CR, and not provide you the required notice.  This should not just pop up in your CR.  That is what the FDCPA is all about.

They are apparently in clear violation of FDCPA 809(a).

I would not DV them.  I would send them a letter requesting deletion from you CR of their illegal posting in violation of FDCPA 809(a).

I would also send a dispute under FCRA 611(a) to each CRA that they have reported to, requring that they verify the accuracy of their reporting. along with a request under FCRA 611(a)(6)(b)(iii) that they provide a full description of the procedure used to determine the accuracy and completness of the information reported.

[Anonymous]

Does anyone else agree that I should go right for the throat?  Last thing I need is a legal battle over $300 bucks.  I really don't care about the money, I have it, and will pay if it resolves it.

 I'm just worried about my credit score.

[Anonymous]

Have you actually spoken to a loan officer yet?

Do you know what your EQ and TU FICO scores are?

The Alliance One account hasn't updated since 10/2003, chances are they don't even have the account any longer.

NCO may still have the one account since it was last reported recently.  

With these being this old, they may not actually be affecting your that much and you might possibly get a decent rate without doing anything with these.

My suggestion would be to either wait for the student loan to report without all the negative and check your scores and/or talk to a LO or follow llecs advice.

[helplesslydrowning]

I am sorry that this is unrelated, but weispennstate, I live in State College. Nice to see someone who might know what that is haha.

I am also trying to rebuild my credit. I am hoping this forum can help me!

[Anonymous]

EQ Fico is 656.  Didn't buy TU 

I spoke with a LO a few months ago just to find out if I was doing everything correctly for credit repair.  She said concentrate on the student loan rehab and pay down the CC.  CC are completely paid off and rehab is complete with an 7.5k balance and 5.5% rate

I'll make another appointment and check with them before I start throwing stones.  I appreciate all the feedback. 

[Anonymous]

Yep, I went to Penn State, screen name is a play on words...  Lived in State College Park on North Atherton St. behind the Giant supermarket.

Don't give up on the credit repair.  It means everything!

WE ARE PENN STATE! 

[helplesslydrowning]

Yeah, it's a great town to live in! And I refuse to give up. I have 2 things left in collections to pay off, then my fiancee has 3 things left. Our main thing is that we are so young and we haven't established enough credit history. But we have an auto loan that we have been paying on time for a year and the same with a credit card. We are hoping to hit the 600's before the year is over!

[Anonymous]

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weispennstate wrote:

I'll make another appointment and check with them before I start throwing stones.  I appreciate all the feedback. 

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That would be the best choice for you.

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weispennstate wrote:

.  CC are completely paid off

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Having all your revolving accounts reporting $0 could cost you a few points. I'd let one report a very small balance, just like 1%.