Valued Contributor
Mike_B03
Posts: 1,146
Registered: ‎11-30-2012
Re: HELP! New collection popped up and dropped score 60 pts!

jjmtmj126 wrote:
We went through the whole process and everything was fine.....but at the last minute they said they wanted my hubby to have more time on the job. He was at his current company for 9 months..... And his previous employer for 2.5 years, same line of work. So fast forward to now...almost a year later and in a better position financially, both our scores went up....they were at 640ish.

I really find it hard to believe that with $20,000 down we will not qualify because of a STUPID $67 collection from 3 years ago. That's just crap!!!!!!!!

So 3 days before closing, they denied it because your husband's job history? That seems insane, didn't they already know his job history when you started the loan process?

 

Was it a scheduled closing date...like you had "clear to close" and then it got denied, or it was just a date that was put on a the sales contract by the realtor at the beginning when you signed the sales contract?

Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
Re: HELP! New collection popped up and dropped score 60 pts!
You need to send a good will letter. Before you paid it, you should have sent a pay for delete letter and not pay until you got something in writing from them saying they will remove x from your reports after payment of x. PFDs are easier than GWs because the collection agency wants their money and are willing to remove the account if they get it. Once they get your money, they are less likely to want to work with you. But GWs can be executed successfully. So I would go to the rebuilding forum and ask what is the best approach to take when you want to goodwill a collection agency, and they will be able to help you. Some may have worked with the collection agency that you are currently dealing with and they can tell what their plan of attack was and then you can try their method yourself and see if it works! Best of luck to you. I truly hope everything works out. Stay positive and determined! :-)
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Established Member
jjmtmj126
Posts: 58
Registered: ‎03-13-2012
Re: HELP! New collection popped up and dropped score 60 pts!

Here is the info about the collection that came on my report:  Thank you for looking into this!  

 

 

Experian®Equifax®TransUnion®
 
Account NameENHANCED RECOVERY CO LENHANCED RECOVERY COENHANCRCVRCO
Account #6991XXXX6991XXXX6991XXXX
Account TypeCollection Department / Agency / AttorneyCollection AccountCollection Account
Balance$67.00$67.00$67.00
Date Opened12/1/201212/1/201212/18/2012
Established Member
jjmtmj126
Posts: 58
Registered: ‎03-13-2012
Re: HELP! New collection popped up and dropped score 60 pts!

Here is the specific information on each account you've opened, past and present. Positive information about your accounts stays on your report indefinitely. You'll also find creditor contact information conveniently located with each account – to help you resolve any issues.

 

Sort By   Status 

Name   Account Type   Past Due   Balance   Date Opened

    
ENHANCED RECOVERY CO L

Potentially Negative


Close Account Details
800-496-8941
8014 BAYBERRY RD
JACKSONVILLE, FL 32256
 Experian®Equifax®TransUnion®
 
Account NameENHANCED RECOVERY CO LENHANCED RECOVERY COENHANCRCVRCO
Account #6991XXXX6991XXXX6991XXXX
Account TypeCollection Department / Agency / AttorneyCollection AccountCollection Account
Balance$67.00$67.00$67.00
Date Opened12/1/201212/1/201212/18/2012
    
Account StatusClosedClosedOpen
Mo. Payment   
Past Due$67.00  
Payment StatusSeriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection departmentUnpaidCollection account
High Balance   
Limit   
Terms1 Month  
Comments UnpaidPlaced for collection
24 MONTH PAYMENT HISTORY
  
2011          2012           2013
FEBMARAPRMAYJUNJULAUGSEPOCTNOVDECJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDECJAN
                       KD
                        
                        
 
 
Experian
Equifax
TransUnion
Valued Contributor
tooleman694
Posts: 2,297
Registered: ‎08-25-2011
Re: HELP! New collection popped up and dropped score 60 pts!

See that line where is says

 

Terms 1 Month

 

That is ILLEGAL!!

 

Fire out disputes targeting that. You can't have a term on a collection.

 

It will go away.

Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
Re: HELP! New collection popped up and dropped score 60 pts!
I would start off by sending a GW letter to the address shown on your credit report and call them up in 2 weeks to discuss it with them.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Established Member
jjmtmj126
Posts: 58
Registered: ‎03-13-2012
Re: HELP! New collection popped up and dropped score 60 pts!

SERIOUSLY????  It's that easy???  

 

So what do I say in the dispute?  Exactly what you wrote?  That it's illegal to have a term on a collection?  If so... you are one AMAZING person and I'd owe you so much!!!!!!!!!!!!  :smileyhappy:

Established Member
jjmtmj126
Posts: 58
Registered: ‎03-13-2012
Can I do the dispute AND send them a GW letter?  Will the...

Can I do the dispute AND send them a GW letter?  Will the agency know that I tried to dispute it?  I'm wondering if I dispute it and then it does not get removed if the collection agency will be "mad" and not help me at all.  

 

I'm new to this so excuse my ignorance.  

Valued Contributor
tooleman694
Posts: 2,297
Registered: ‎08-25-2011
Re: HELP! New collection popped up and dropped score 60 pts!

[ME]

[EQUIFAX]

Dear Sir or Madam,

This letter is a formal complaint that you are reporting inaccurate credit information on my report #xxxx. Because of the mistakes on my credit report, I was wrongfully denied credit recently for a home loan. My social security number is xxxxx and my current address is listed above. My last address was xxxxx. My contact number is xxxxx.

The following information is incorrect and therefore needs to be corrected or deleted from the report as soon as possible:

ENHANCED RECOVERY CO L (Account Number):

-This account is showing to have a term of one month. This account is in violation of the FDCPA Section 807(10) prohibits the "use of any false representation or deceptive means to collect or attempt to collect any debt or to obtain information concerning a consumer."

According to Section 611 of the Fair Credit Reporting Act, I am requesting that these items are investigated and deleted from my report as soon as possible. Also in accordance with the FCRA, please FULLY investigate my disputes and verify with the furnisher of information, not just your own data. Be advised that the description of the procedure used to determine the accuracy and completeness of the information is hereby requested as well, to be provided within 15 days of the completion of your reinvestigation.

 

Valued Contributor
Mike_B03
Posts: 1,146
Registered: ‎11-30-2012
Re: Can I do the dispute AND send them a GW letter? Will the...
[ Edited ]

Nice letter! That could certainly scare them into remove it, I like! :smileyvery-happy: