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Help! Incorrect collections posted by TU yesterday

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ryanls1
Established Member

Help! Incorrect collections posted by TU yesterday

Looking for some help here.  Approved for mortgage last week, nothing showing on my wifes CR. We close on Dec 11th.

 

Yesterday, 3 collections showed up on my wifes TU report with dates on them back to 2017/2018.  I know these have been taken care of and called the creditor to find out what was going on.  All of them say they show no account with them and are not reporting anything to TU.

 

How can this be and what do i do about it?  Im scared to dispute becuase that will hold up funding and closing but i also dont want to risk credit being pulled before closing and these 3 account show up.

 

Thanks

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2 REPLIES 2
JVille
Valued Contributor

Re: Help! Incorrect collections posted by TU yesterday

Speak with your Loan Officer immediately. He can reach out to the Credit Bureau to investigate. You are likely going to need dispute them. But don’t do anything before speaking to lender. You have 3+ weeks to fix.
Do you still have proof these are paid?
Message 2 of 3
homeloanexpert
Established Contributor

Re: Help! Incorrect collections posted by TU yesterday

Not sure about your lender, but we pull a refresh report just before closing. Any new collections will generally be disregarded while any new accounts will flag the file for Underwriter re-review.

 

If you know there will be new collections showing on the credit report, I would certainly encourage you to be honest with your loan officer so you can strategize about it now instead of dealing with this in the 11th hour.

 

Best of luck!

Branch Manager - Specializing in FHA, VA, USDA, Conventional, Jumbo, Portfolio and Non-QM Loan Products.
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