11-09-2013 10:56 AM
After MONTHS of disputes and involvement of the NC State Attorney General and the Barclays Executive offices, as well as some helpful folks here, I got a letter from Barclays on October 16 that showed the late payments they were reporting were erroneous. Mortgage company supposedly did a rapid rescore Oct 18 but the consumer CR that I pulled Nov 5 still shows the erroneous lates.
I contacted all 3 credit bureaus on Friday, and Barclays has not updated the payment history since Sept 12.
Current scores are 641-653-702. I closed on my house October 30 and need to open a Lowes card or a Sears card in order to buy appliances in the next 2 weeks....not sure I can get either of those cards with those scores. Mortgage has not started reporting yet.
If I dispute the account again with the CRA's and Barclays and provide the letter from Barclays as documentation, will this speed up the process at all? or if nothing else, will it get that account of out scoring so I can apply for Sears or Lowes?
11-09-2013 12:30 PM
Where did you pull the report that still shows the lates?
It can take up to 90 days to have the lates removed.
Have you contacted Barclays and asked them when they plan on updating or if they have sent paperwork yet? It has been less than a month since you received the letter from them. When they do something like this it is done manually and not automated.
Until you speak with them I would not dispute. It could cause the deletions to take longer.
11-09-2013 12:40 PM
USAA Credit Check monitoring service. It has all 3 CRA's on it.
I tried to call Barclays Executive office twice and haven't gotten a call back. I may try that again but not leave a voice mail...just not put in an extension and get back to a live person.
Why would it take longer to have the lates removed if I dispute it? I'm not sure I understand why it would take 90 days. They report the balance every month, why not the payment history?
Given that it is erroneous, I need to get this account out of scoring until it's corrected ASAP. Would adding a consumer statement help?
11-09-2013 02:17 PM
Consumer statements don't help your score and are rarely considered.
Updating of any TL can take up to 90 days. Why, I have no idea.
If you dispute and they are trying to remedy the lates, it could interfere with it. In addition, you have already disputed them and they came back verified correct? If so, the CRA could say your dispute is frivilous and not take any action on it.
If you apply for credit and they see an account in dispute it could cause issues also. They want to see what your real score is minus the dispute.
Instead of disputing, you can send the letter to the CRAs and see if they will use that to remove the lates. They may or they may say it needs to come from the creditor directly.