New Member
josh9955
Posts: 7
Registered: ‎12-05-2012
Most bizarre thing happened when I applied for a loan
[ Edited ]

I have a 750 FICO score and have tons of accounts but when I applied for a loan today the report she pulled only has two accounts!  Both were collection accounts that dropped off my reports over a year ago.     I have maybe 20 other positive accounts and the only thing she could see on my report were the two collection accounts so I was denied.

 

What the heck???

Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011
Re: Most bizarre thing happened when I applied for a loan

Must be a split file.  You will have to call the CRA to have that fixed.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
Re: Most bizarre thing happened when I applied for a loan

I'd suspect that too. Was this EQ?

Mega Contributor
RobertEG
Posts: 18,166
Registered: ‎03-19-2007
Re: Most bizarre thing happened when I applied for a loan

If they dropped based on expiration of the credit report exclusion period, then the CRA has committed a rather serious violation of FCRA 605(a)(4) by including them in any credit report provided to others.

The CRA should fall all over themseleves to correct the mistake, whatever the basis.

I would couch any contact with them as a complaint of violation of the FCRA exclusion requirement, which is imposed directly on the CRAs.

New Member
josh9955
Posts: 7
Registered: ‎12-05-2012
Re: Most bizarre thing happened when I applied for a loan

yep, equifax.

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
Re: Most bizarre thing happened when I applied for a loan

josh9955 wrote:

yep, equifax.


EQ is notorious for split files. Your CR file is allotted but so much space and data. If you have many accounts and several soft and hard inquiries, it'll split your file to make room for all the data. As a result, you can pull your CR one day and see 20 accts, for example, and pull the next and only see a couple. 

 

I've never been through this, but others have documented their results in here. It can be fixed by contacting EQ and they'll go over your reports line by line and determine how to piece it together.

Valued Contributor
AndySoCal
Posts: 1,944
Registered: ‎04-07-2009
Re: Most bizarre thing happened when I applied for a loan

Josh995,

 

Is the address where you applied for the other 20 accounts the same one as the one used on the loan app? I presume the social security number is the same as well.

Equifax My FICO score 815 5/28/2012, 818 on 7/28/2014 . Average of Accounts 12 years and no Installment accounts. MyFICO TU 810 6/26/2012 809 4/21/2013 MyFICO XPN -805. 2/26/2014 Discover TU FICO 813 App free since 9/2011
Mega Contributor
RobertEG
Posts: 18,166
Registered: ‎03-19-2007
Re: Most bizarre thing happened when I applied for a loan

I would send a formal complaint to the FTC for violation of FCRA 605(a), with a cc: to the CRA.

That should get some butts in gear.......

New Member
josh9955
Posts: 7
Registered: ‎12-05-2012
Re: Most bizarre thing happened when I applied for a loan

Thanks guys.   It was indeed a split EQ file!

 

Took a while (one EQ guy even told me there is nothing they can do and i'll have to live with it!), but I kept calling and someone fixed it for me.

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
Re: Most bizarre thing happened when I applied for a loan

josh9955 wrote:

(one EQ guy even told me there is nothing they can do and i'll have to live with it!)


:smileysurprised:    Glad you remained persistent.