@Anonymous wrote:Hi all,
You have all been so incredibly helpful in my credit journey - thank you all for your experience and eduction you've given the rest of us!
Myself and DH are headed in to request a mortgage in the next month or two (I know, soon!) and I have two issues that I've read all about but now feel dizzy with options of how to handle them.
1 - Had a student loan with the school that went into default. I didn't learn of it until I requested a school transcript. (This was last year) - I was given option to "Rehabilitate" over 9 months so that they would then not report the "default". It was down to the line and I needed my transcript, so I PAID in full (~8k) in April last yr.
All three CRA still report it's Open and "past due 180 days" with the balance as it was originally.
It's been 9+ months since I paid this.... I want to send the dispute letter to all three CRAs with the cancelled check info so they can update it.
--- Do I ask for this to be "deleted" or "corrected"? In the end, it's up to them how they handle it, right?
I am sure they will just correct it, not delete it
--- Is getting this fixed going to help or hurt my credit score?
It can only help
2 - Here's my baddie.. it's the bain of my worst self esteem thoughts for the last 2 years and yet, I don't know what to do:
OC is CIti and after everything is a ~$8k debt. I don't know when it was last paid... 2014?
I MAYBE verified it in 2015 before I had read all of your experience and learned.
It just wasn't on any of the reports until last month. We bought a car and BAM! it showed up just as now debt owned by Cavalry (CPS). They are reporting, my score dropped >40 points. (about 720 to 680)
I'm sorry I couldn't understand what you're saying
--- Keeping in mind I need a mortgage -- do I pay it? Ask to pay for delete? It just seems unlikely from everything I've read. Is my score going to worsen if I pay and it's NOT deleted?
Oh! and for extra kicks i have a "Current" Open Citi account listed under one CRA (TU) - this is for ~3k but is listed "paid as agreed" .. I have no idea what it's from. how do I find out without affecting my score?
You should get a full credit report from TransUnion
This is a long message, but you all can be so helpful. Any answers/comments are greatly appreciated!!
@Anonymous wrote:Sorry I didn't describe this well -
The original creditor is CItibank and it is a ~$8k debt.
I don't know when it was last up to date but suspect it was 2014.. Then I may have verified the debt in 2015 over the telephone while being bullied.
It just wasn't on any of my credit reports and didn't seem to be impacting my score, so I had ignored it as to not stir up negative info. Last month it showed up just as now debt owned by Cavalry (CPS), I got a letter that Citi had transferred the debt to Cavlary Portfolio SE, a debt collector. They started reporting, all 3 of my scores dropped dropped about 40 points. (from about 720 to 680).
My current credit score is Experian 683, Equifax 680, TU 695 -
To get a mortgage in the next 3 months, I think I'm going to have to address this above issue somehow.
What should be my first step? My ideal goal?
Should I be working towards paying this debt fully? - It's $8k and I would hate to pay it all now and have my score go down just in time for trying to get a mortgage!
thank you for your above help!
I spent the last couple hours disputing and such on the other issue.
I'm afraid I don't really know the answer to that. I believe the best thing is to pay it in full if you can.
