topic Re: How to Remove items without opening new dispute for FHA Mortgage approval in Rebuilding Your Credit

How to Remove items without opening new dispute for FHA Mortgage approval

Anonymous — Sun, 26 Jul 2015 23:14:56 GMT

Hello, these forums are very helpful. How do I remove items from the bureaus without filing a dispute? For example, I have several old accounts that are expired now. On 2 of them, I tried calling the creditors directly and they were so old that they said they had no information. I can't file a "dispute" with the bureaus because as you know, you can't close on a mortgage with an open dispute and I don't have time to wait 30 days. I can't quite go to the creditor when they're like "it's so old we have no information."

The other issue I have is there are some blatant errors. For example, student loans errors. I have letters from my student loan company saying they've corrected with the credit bureaus -- but then they show up. What should I do? Again, I can't open disputes because I can't have an open dispute and close on a loan.

LVNV put something on my credit report for a dental bill I paid in cash. It was years ago. I don't know how to go about proving I paid it.

Last but not least I have a charge-off from Bank of America that's reaching the 7 year mark in 2 months. Is B o A good about removing after it hits that mark? Should I even try a goodwill ask of them to remove it early or at least update it to a 0 balance? (They didn't sell it so it still shows a balance) Or anything? I'd be afraid of offering any type of payment for fear they'd open the loan and re-age it since it's going to fall off in a month.

All help appreciated

Re: How to Remove items without opening new dispute for FHA Mortgage approval

Anonymous — Sun, 26 Jul 2015 23:24:41 GMT

It wont be BofA that removes it at 7 years, it will be the credit rteporting agencies. You can ask for an early exclusion (I had good success with TU and EX and didn't have anything on EQ to try on.) Call and ask for EARLY EXCLUSION. TU may take a few tries before you get someone that knows what you are talking about. EX was a piece of cake. You will need a report number to get thru on EX phone system (the last copy of your free report from annual credit report will have a 10 digit number at the top). If the others are old you can try the same thing, otherwise you may have to contact the creditor and get them to email you letters stating it should be updated and get those in the hands of the

Re: How to Remove items without opening new dispute for FHA Mortgage approval

Anonymous — Sun, 26 Jul 2015 23:32:13 GMT

So here's the thing. You can call the credit agencies and tell them you no longer dispute an item. They'll ask you if you're applying for a mortgage then take it off within a couple business days (in my case, one). I was disputing the exact date a collections began but decided it wasn't worth it since the item was satisfied anyway.

However, sometime after that, an account showed up (which wasn't mine) with an unpaid balance of around $105 that was past due by several years. I called the company (MCI now Verizon) who confirmed that it indeed wasn't mine. I also initiated a dispute and it was resolved within two business days. I think with the situation you described, a dispute will work well for you and if not, just cancel it a week before you're going to apply.

Re: How to Remove items without opening new dispute for FHA Mortgage approval

RobertEG — Mon, 27 Jul 2015 00:22:16 GMT

As stated, the furnisher of information (i.e., creditor or debt collector) has no involvment in the exclusion of their reported derogs other than to report the date that ultimately determines its exclusion. That would include the mo/year of any delinquency, and the DOFD for any charge-off or collection.

If the CRA has not excluded by the max statutory date, there is no inaccuracy in your credit file, and thus no need for a dispute. The issue is lack of CRA compliance with the statutory exclusion provision of section 605(a), which you can handle by a call or letter as a complaint or request for review rather than by filing a dispute over inaccurate information in your credit file.

The CRAs are usually excellent in complying with the credit report exclusion provisions. \If the date of a derog clearly is such that it should be excluded, I would highly doubt that there would be any reluctance by the CRA to do so.

Re: How to Remove items without opening new dispute for FHA Mortgage approval

Anonymous — Mon, 27 Jul 2015 01:38:49 GMT

UPDATE!!! OMG -- I just found a copy of my credit report from 2012 and on the Bank of America -- it says "This account is scheduled to continue on record until June 2015." !!!! It's July!!! It's still there!!! Grrrrrr. Perhaps I call the 3 credit bureaus and tell them -- and even fax over a copy of the old credit report! Boy, it pays to save your files and then *think* on a Sunday to go searching your computer for them!!! What do you guys think?

Edit: pfarro thanks for that idea! Robert -- thank you! I had to read your post twice, wow you really know your stuff! I think that might work especially since I have "proof" in a previous credit report saying it should've fallen off by now.

Re: How to Remove items without opening new dispute for FHA Mortgage approval

RobertEG — Mon, 27 Jul 2015 07:38:41 GMT

Your earlier credit report is helpful, but is not yet "proof" of required credit report exclusion.

Credit report exclusion of a charge-off or collection is mandated at no later than 7 years plus 180 days from the DOFD on the OC account.

Most commercial credit reports do not include the actual DOFD, but rather provide an estimated or expected exclusion date, which is approx 7 years from DOFD.

The CRAs normally exclude at approx 7 years to avoid going over the max statutory period.

Thus, a prior credit report that shows an expected or estimated date does not proivde a required exclusion date.

To determine definitively when a collection or charge-off must be excluded, you need the actual DOFD that was reported to the CRA.

You then add 7 years plus 180 days to the DOFD to get the statutory maximum (latest) excluesion date.

If it is not shown in your commercial credit report, order a copy from annualcreditreport.com, which usually provides more details.

Re: How to Remove items without opening new dispute for FHA Mortgage approval

Anonymous — Mon, 27 Jul 2015 18:38:09 GMT

I understand but they're reporting the DOFD incorrectly. That's why my 2012 CR gives it correctly. It's impacting my mortgage application. What I need are strategies etc. to get them to remove it a month or so early. If not, fine we'll wait until it falls off but it would be very helpful if someone had ideas on how do this without opening a dispute with the credit bureau. Someone from BOA customer resolution team is going to contact me today. I'm going to try the "early exclusion" (even if I don't feel it is early since it should've been off) with bureaus and see what happens. I may also try asking BoA when they call and emailing them the 2012 CR.

Re: How to Remove items without opening new dispute for FHA Mortgage approval

Anonymous — Mon, 27 Jul 2015 20:47:06 GMT

WELL ***UPDATE*** DO THEY READ THESE FORUMS??? SOMEHOW I pulled them today and they're gone!!! What the -- maybe my phone call helped! In just the time since I posted this and today they're gone! (at least on 2. I paid for 2 I haven't checked TU.)

Re: How to Remove items without opening new dispute for FHA Mortgage approval

Relique — Mon, 27 Jul 2015 21:23:02 GMT

It's unclear exactly which items you made progress on so this may be irrelevant now... but disputing items that are too old to be on the report will not take anywhere near 30 days. I have disputed old items with all 3 bureaus (online) and have gotten an answer within a handful of days at most. If you are too worried to do that you can just call the bureau and explain the situation, I have heard of plenty of people here that called in and were able to get old items removed on the spot.

For any disputes requiring you to send proof. I have found that calling the creditor (or bureau) is a lot better than just disputing using an online report. The online site often ends up with the bureau verifying the debt with the creditor which can be a total waste of time. It's a lot more reliable to explain the situation to a person and get it dealt with that way. Of course this will take longer than a few days and the dispute can show up on your report for the duration. I still think it's worth it just to get that off your report as soon as possible.

Finally, I can tell you from personal experience that with credit applications... rushing things can be a real detriment. For me, there have been many situations where I applied when I knew I wasn't ready and waiting a month or two would have made a real difference. I will not pretend to understand your circumstances but I think it's worth considering taking a little extra time to improve your report as best you can for the short term.

Re: How to Remove items without opening new dispute for FHA Mortgage approval

Anonymous — Mon, 27 Jul 2015 23:56:32 GMT

We're not really rushing. Yes, that was my experience was a couple phone calls. So I guess it can work!

Re: How to Remove items without opening new dispute for FHA Mortgage approval

Anonymous — Tue, 24 Nov 2015 18:56:38 GMT

What's a good contact number for the bureau to speak to a love person?