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Mortgage help

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Regular Contributor

Mortgage help

Hi, I have worked the last three years to keep my payments on time and paid everytime. I had no credit remarks thanks to that. I stupidly took out a loan from Republic Finance last Christmas for $600.00 and paid double payments to pay it off early. I paid it off (I thought!) in July and didn't think of it. On October 24th, I get a phone call from them and they say I owe $275.00. I told them I didn't believe it because I wouldn't let something like that jeopardize my efforts to improve my scores after 3 years!


Spoke to that one's manager, she said I owed 75.00 and then a third person stated that I owed 220.00. After all this, I asked them to send me a letter with the documentation of my payments so I would know exactly what I owed. They mailed a letter to me, they claimed I missed my first payment which was in their words "reversed" when they tried to draft my checking account. They weren't supposed to draft a payment until the 18th of January. That was the contract. It said so on their own letter explaining(
?) how they came up with their numbers. 


SO I waited for another explanation and didn't get one. I wasn't satisfied that the amount was correct. I wasn't told anything else and while I was waiting, they reported me to the credit bureau as over 30 days late. That had a devastating effect on my equifax and experian scores. 


I wrote them a letter offering to pay more than the amount they claimed I owed if they will remove the baddies. Waiting on a response but i mailed the letter the 7th. 

In the mean time, I sent them another letter asking if they would consider a reasonable accommodation as I have memory problems due to medications and medical condition. I asked that they write to me versus contacting me by phone. I am considered disabled and I mailed the documentation with my request. I asked that they relax their reporting policy due to my problem understanding what the problem was. Still waiting for a response there too. 

I need that off my credit report before the mortgage company re-pulls my credit report in about 6 to 8 weeks. 

Any advice? If they were to remove the bad remarks would my scores rebound to where they were before? Please help I'm so upset.

Message 1 of 7
Established Contributor

Re: Mortgage help

In the meantime check your own bank records and get the better business bureau involved.
Message 2 of 7
Regular Contributor

Re: Mortgage help

Thanks but I still worry they will retaliate if I complain to the BBB. They could just make things worse. I've been looking at my bank records but they don't match up to their claims.

Message 3 of 7
Valued Contributor

Re: Mortgage help

Did the lender do a full evaluation of your credit profile? Did they say you wouldn't qualify unless the remarks were removed?

Mortgage Loan Officer licensed in CA & AZ

Message 4 of 7
Regular Contributor

Re: Mortgage help

Hi, thanks for your help. I don't know if they checked the complete record. The loan officer just told me to try to get it removed but he mentioned an option we could use if it wasn't cleared up. The problem isn't paying it off, the problem was how my scores dropped 37 and 48 points from my Equifax and Experian scores. Just finished a complaint to the CFPB to offer payment regardless if I actually owe it, in order to have their remarks corrected on reports.

Message 5 of 7
New Member

Re: Mortgage help

did this get resolved for you?

Message 6 of 7
Regular Contributor

Re: Mortgage help

It did finally. My scores rebounded after they updated the accounts. I paid them what they claimed I owed them. Hopefully they will remove all mention of this but I doubt it as they have no incentive to now. I will say it's been my experience getting a complaint filed with the CFPB definitely gets their attention.
Message 7 of 7
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