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Hi all,
after spending thousands of dollars and a few months cleaning up my report and paying down my credit cards I have run into another problem. I am still unable to get my middle score above the 640 mark for my fha mortgage. I put some information below and need some suggestions on how to handle my problem.
Credit cards:
Barclay card (1 month) CL 500 only have a 10 dollar balance reporting
Capital One (2 years) CL 400 only have a 5 dollar balance reporting
Credit one (1 month) CL 400 zero balance
I have a few collection accounts, mainly one, that are currently being reported on my credit report. The first collection is Calvary Port service. They have been paid but will not change the status of the account to paid. I was told by them since I paid with a debit card they won't update for 180 days after payment. The only other collection is Receivables performance for 439.00. That account is still being handled. I want to pay them but they refuse to remove the tradeline from my CR. A few months ago I disputed it the the credit agencies because they never sent me a letter or called or really anything. After the investigation the account was removed but later added without letting me know. I am more than willing to pay but they just wont budge on the deletion.
Positive stuff:
I have an 8k car loan that only reports to experian. Would like to know how to get it added to the other two
I have a 29k student loan in good standing reporting to all three.
Fico scores:
Equifax: 630 myfico
Experian 619 myfico
Transunion 633 myfico
Calavary won't update because you paid with a debit card? They are bound by the FCRA to report that information in a timely manner. They are knowingly reporting false information by not updating that account. Nothing gives them the right to wait 6 months because you used a debit card.
I would be filing a complaint with the CFPB.
If the other account was removed due to a dispute but later reinserted, the CRA was supposed to notify you within 5 days of the reinsertion.
Paying the collections won't help your score, you really need them removed.
I would let 2 cards report a 0 balance and one at 9% or under. This will give an optimum score.
You can ask the lender if they will report to the other CRAs but it cost money for them to do that. Some just choose to report to one.
Other than that you are doing what needs to be done. Letting your accounts age will help.
Calavary deleted? If so, that is good!
Can you give some more information about the other CA?
How old is the debt? Inside your suing SOL?
Changes are it will have to be paid sometime during the mortgage process.
If you know it is yours I would just pay it and start sending GW letters.
Is this CA out of WA state?
First time they talked to you they were required by the FDCPA to send a dunning notice within 5 days. Don't believe it matters who initiated the contact.
Send them a DV first and see if they validate.