Major Dilema Regarding CRA's Reporting Correctly

MsKitty · ‎08-06-2008

I use Transunion to check my info. regularly and I know from this forum that the scores I receive are FAKO. But I do check for changes and updates. I use MyFico to give me a more accurate outlook of my credit reports. When changes are made the individual CRA's send me a new CR.

Here's my concern:

While comparing info from my CR info and MyFico info I noticed inaccuracies between the two. For instance, I may have been reported late with no date given on MyFico, yet given a date on the CRA report. I am wondering how is this so? When I disputed, I was told, of course, that the info is being reported accurately. The CRA even sent me a list outlining my account history. I was reported late when my account history shows that Ihad a zero balance.

What I thought I would do is call the CRA and tell them of their errors, hoping that they would eventuall delete the items or change it to show that it is not late. What I do not want is to have this on my rocord anymore. Yes there were times when I was late. I do not know if I brought this to their attention will it prove to have a negative impact on me, or can I say that each occurance could potentially cost them 1000 dollars. Does this even apply in this situation. I am uncertain of that which is why I am asking now.

I am interested in getting a home loan and I have been trying to clean up those things that I can in the last few months. So far my Fico scores from July are EQ674, EX722, TU627. I am a little nervous, ok very nervous about this process and I look to the forum to see how I might prepare myself for success. I am not sure if I am ready to head to the mortgage lenders office now.

Another thing I was wondering about regarding crossmatching the MyFico info and the CRA reports: Which do mortgage lenders look at? MyFico info or CRA info?

Any help from anyone reading would be great. I know moderators often check out the forums. If any of you have time to answer, I would appreciate it greatly.

MsKitty

P.S. Has anyone out there in FicoForum Land had any sucess with GW letters to Citifinancial Auto? I have about three payments left and about 6 baddies that I would like to have removed. I called but the CSR were snotty with me. If there are any addresses or names that I should send letters to, please help. I know getting them removed would be a great thing. Thanks again for taking the time.

Message Edited by MsKitty on 08-06-2008 03:04 PM

Anonymous · ‎08-06-2008

Your full credit disclosure will come from the CRA.

MyFICO is a 3rd party reseller, therefore you will only get a credit report. Just the basics. Sometimes the information doesn't display as it should, which is why you should always view reports from the CRA.

When you go for a mortgage, the lender will either pull directly from the CRA or from a reseller. Their reports should show the payment history as you see it on your report from the CRA. Your score will be a FICO score becuase the FICO formula will be used to calculate it, however it will likely not come from FICO.

If you are being reported late for months after the account was paid, that is inaccurate.

Lates on a collection will don't affect, because collection is worse than lates. FICO scoring won't ding you on the same account for lates and for collection.

Hope this helps. Let me know if I didn't answer your questions.

MsKitty · ‎08-10-2008

Thanks Sidewinder,

now I know to use MyFico as a guide. Like I said I noticed the differences and was hoping there was a way to get them removed.