You nailed it. We are going to attempt to close on a house we pre qualified for in December. We're looking to close end of June first part of July.
I do have other collection accounts on my file. Depending on wich report you pull, between 4 and 6. Nothing for more than $500 bucks or so and the most recent one was 18 months ago, the rest are 2006 or older.
I was told not to pay them because it would make them appear as "new" negatives.
I was also told that PFD is hard to get, and most CA's won't go for it.
I am disputing everything and paying off all credit cards. Hoping it all works out.
You nailed it. We are going to attempt to close on a house we pre qualified for in December. We're looking to close end of June first part of July.
I do have other collection accounts on my file. Depending on wich report you pull, between 4 and 6. Nothing for more than $500 bucks or so and the most recent one was 18 months ago, the rest are 2006 or older.
I was told not to pay them because it would make them appear as "new" negatives.
I was also told that PFD is hard to get, and most CA's won't go for it.
I am disputing everything and paying off all credit cards. Hoping it all works out.
There is a lot of CAs who do PFD.
As for making it look "new", what I believe you are talking about is the CA updating the last reported/updated date. Disputing can cause the same thing.
They told me that there was nothing they could do to lower my scores. I have already seen a couple of the CA update the date reported field, but haven't seen a decrease in score.
If that's the case, I will just pay them off then.
They told me that there was nothing they could do to lower my scores. I have already seen a couple of the CA update the date reported field, but haven't seen a decrease in score.
If that's the case, I will just pay them off then.
Best Wishes.
Just depends on what the last reported/updated date was BEFORE they changed it. The more recent, the less of an impact.
Well, just paying them off won't do much, it'll just show as a Paid as Agreed or Paid in Full or something of that nature. You'd want to get an agreement in writing that "if I pay X amount, you agree to remove the reporting from the 3 CRAs". If that makes some sense..!
Also, be careful disputing so close to getting your home. Most lenders now are not approving loans until all disputes are resolved. I'm in the process right now of getting my disputes line off my reports so I can get my loan.
Starting Score: 668 Current Score: 712 Goal Score: 750
Starting Score: 668