My husband and I are hoping to buy a house in the spring. We're not sure if we'll be conventional or FHA - depends on where my credit score ends up (mid to upper 600s now). We'll have 20-30% down payment.
I pulled my credit report and noticed an old bill from the Blair clothing catalog from years ago (5 years +, I think) that was mine, but I wasn't aware I owed anything on as I haven't gotten any kind of bill in years and it wasn't on the credit report they pulled when we leased our current house a year ago. It's only $70 and I'm calling tomorrow to pay it and see if it can be deleted or at least the lates removed.
It is noted as being charged off several years ago (2005-6, I think; don't have report in front of me) on all 3 credit reports right now but still reporting 120 days late to Equifax every month for the last two years (Transunion was pulled for my house lease, so I didn't see this). No lates in the last two years for the others.
I'll pay this and try to get them to remove it when I pay but if I can't, how much will that hurt me when I try to buy a house? That's my only late reported in several years. Is there anything I can do to get that removed if they won't remove it when I pay?
Thanks in advance!
I know someone' s going to yell...but.
I would dispute the lates, sometimes they can't verify the late payments and the whole thing is removed.
If you pay it, you are bringing it back to life, Charged Off over 5yrs....leave it alone.