Not Sure What to Do

[Anonymous]

I have been trying to get approved for an fha loan to purchase a house and have been tring to clean up my credit to be approved.  I have checked with two different loan officers, and I am hearing two diffeent things.

I ran my credit a few months ago, and I had a high score of 640 and a middle score of 617.  I was able to get a late status removed bring the account to good standing, and 3 collection accounts fell off my report.  The problem is my scroe went down.  My high score now is 635 and my middle score is 605.  I am not sure why my scored dropped from that, unless it was from the hard pull.

Here are the sugestions that have been presented to me to imporve my score from one loan officer and a credit repair specialist.

Loan Officer - Establish new credit.

Credit Repair - here is where it gets odd.  I was told that before I can be approved for any loan that I need to have the CRA do a re-score to removed the workd "dispute" from my entire credit report.  She seems to think I need to pay $600 to the CRAs to have this done.  I have no accounts that are in duspute now, but they do say "Account was in dispute but has been resolved". Is this information even correct?  I have not heard anything about it, and the loan officer did not mention it.  I am not about to drop $400 on the credit repair then another $600 to the CRAs to remove the work "Dispute" before I have verification.  She also seems to think once I re0score my scores will go down.  Outside of doing that she suggested I try to remove the last few collections and just give it time.

On my report

Lates

ACS/JP Morgan Chase			na	Feb-04		GW 60-Day 2010
Chase			$0	Feb-04		60-Day 2007
Chase			$0	Feb-04		60-Day 2007

Good Standing

Gordon's			$0.00	Oct-06
Orchard			$385.00	Oct-08
Toyota Motor Credit			$10,267.00	Nov-09
Best Buy/HSBC			$0.00	Jun-99	Sep-12
Texas Guaranteed Student Loan			$0.00	Jun-02	Mar-14
GE Capital/Mervyns			$0.00	May-98	Oct-18

Collections

Financial Control Svc			$294.00	Sep-05	Mar-12	PFD
Healthcare Collections			$496.00	Oct-07	Jun-13	PFD
Medical Data Systems			$3,021.00	Mar-07	Jun-13
Medical Data Systems			$579.00	Jul-07	Sep-13
Healthcare Collections			$284.00	Jun-10	Sep-13	PFD

I am at a loss as to what I should do.  Should I establish new credit?  Should I pay for a re-score?  I am definatley going to Pay for delete the last few collections I have.

thanks for any help with this.

[Anonymous]

I know rapid rescore does cost money to do so but I think 600 is alittle high. As far as the dispute remark, I know it was mandatory to have it removed before but it was recently posted on here that if the account is 0 but it has the dispute remark it wasn't as big a deal. I think it depends on the lender though. When I applied through Quicken they stressed how much they needed it removed but when I applied through Chase they never even mentioned it.

Have you thought about applying somewhere else?

[Anonymous]

I applied with Chase and with a lender my realator recommended.  The Chase Loan Officer suggested I open a new line of credit.  The lender my realator recommended operates through SupremeLending, and his wife does the credit repair.  Almost everything she said about my report contradicts things I have heard on here and the interwebs.  Half the time I talk to her I feel like she is trying to scam me, but my realator has so much faith in her that he offered to put up $200 of the credit repair fee.  She is the one who told me lenders will not give me a loan even if nothing is in dispute, but the tradeline has "disputed but verified by lender" in it.  She said it costs $30 per tradeline that has the word "dispute" in it to get it removed.  I have never heard this, and as far as the rapid rescore, I thought that was just a rescore of the information in the report, not that it removed anything.

I am so confused, but I am having a hard time believing anything she said.

Does anyone know how long a new "positive" tradeline takes to positivley affect my score?  If I open it in the next week will it start helping my scroe in 6 months?

[Anonymous]

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@Anonymous wrote:

I applied with Chase and with a lender my realator recommended.  The Chase Loan Officer suggested I open a new line of credit.  The lender my realator recommended operates through SupremeLending, and his wife does the credit repair.  Almost everything she said about my report contradicts things I have heard on here and the interwebs.  Half the time I talk to her I feel like she is trying to scam me, but my realator has so much faith in her that he offered to put up $200 of the credit repair fee.  She is the one who told me lenders will not give me a loan even if nothing is in dispute, but the tradeline has "disputed but verified by lender" in it.  She said it costs $30 per tradeline that has the word "dispute" in it to get it removed.  I have never heard this, and as far as the rapid rescore, I thought that was just a rescore of the information in the report, not that it removed anything.

I am so confused, but I am having a hard time believing anything she said.

Does anyone know how long a new "positive" tradeline takes to positivley affect my score?  If I open it in the next week will it start helping my scroe in 6 months?

---

I am no expert but there are so many red flag in your last post, I highlighted them.  I am in the process of purchasing a home also and it can be such an emotional roller coaster and frustrating.

I don’t judge people but after reading your post, I would be very skeptical.

When I opened my credit card about five months ago it took about a month to report.  I personal would work on the collections give it some time and see if your score rebound then go from there.

[Anonymous]

I was able to remove the dispute remarks on my own, for free. EX was the easiest, EQ gave me alittle trouble but TU was the hardest. But I did it within two weeks or so. I can't say for sure if she is running a scam or not but I do feel that if you feel something is off then you should go with that feeling.

[MBOhio2]

wanttomove - I know there have are a lot posts on the removal of "dispute" comments, but since you've been successful recently, I want to pick your brain. I called EX today and, like you said, they did it immediately over the phone and said I would see the comments removed within 72 hours.

I am about to tackle TU and EQ - how were you successful? I am reading conflicting suggestions and I'm really hoping to have it done within the next 2 weeks. How did you get them removed from TU and EQ. Thanks!!

[Anonymous]

MBOhio2 - Thanks for asking those questions, I started to post the same thing last night, but got busy and never finished my post.

[Anonymous]

I received these back door numbers from this site:

Experian 714-830-7000 ask for the Executive Cust. Service Team

Equifax 404-885-8300 Executive Cust Service Team

TU 312-985-2000 Special Handling Dept.

The Equifax number may transfer you to someone's voicemail but keep trying. The woman I spoke to was extremely helpful and had it done in 24-48 hours. Explain your situation to them. If you call their 800 number they will just open another dispute to investigate the disputes (can't understand the logic there).

TU is the hardest one, because they refuse to remove the comment without contact from the Creditor. In that case, I called the creditor and explained that this is stalling my ability to close on my loan and they were helpful.They faxed a letter saying they would remove the disputes and I sent that over to TU directly.

I'm not going to lie, it is a pain. I spent about a week and a half getting all of this together and it was only for two items. But I think it is definitely worth a shot. Good Luck

[Anonymous]

Thanks for the numbers, I will be contacting them this afternoon.

[MBOhio2]

UPDATE on my progress:

Called Experian yesterday at 714-830-7000 and asked for the "Executive Cust. Service Team" - I was rudely and affirmatively told that no such thing exists and she asked what I needed. I explained that I wanted the "dispute" comments removed and she immediately transferred me to someone else in "National Customer Sevice". I explained to the next person that I wanted the "dispute" comments removed. They asked where these appeared and I told them the account. They said they would file a "dispute" for this request, which after additional explaining by me ("I'm not disputing anything, I just want comments removed") they explanined was really just an administrative request to have them removed. The person then mentioned 2 additional accounts (I had not noticed) also had dispute comments and she processed the request to remove those too. She asked for my email and said the results would be finished within 72 hours and emailed to me. When I checked my email at 8am this morning, I had an email from Experian and the dispute comments were removed.

Called Equifax today at 404-885-8300 and immediately explained that I wanted the "dispute" comments removed. I was transferred to someone else who was a hard-driving salesperson and spent most of the call trying to get my to cancel my myfico.com membership and join Equifax's program. At one point, she even told me that the only place to get my "real" credit score was directly from Equifax and said that the scores I'm getting from myfico.com aren't accurate (not true, they're FICO scores). Anyway, after pointing out to her the accounts with the "dispute" comments, she also processed a "dispute to remove the disputes" and said that it would require verification fromt he creditors and could take 7-10 days to process. I also explained to her that I wasn't disputing anything, I just wanted comments removed and she said this was the only way to do it. I didn't have the energy to keep fighting with her, so I gave up and went with her "disputes." We'll see.

I actually faxed a letter to TransUnion a few days ago because I read in another post that you could fax a the dispute removal request to their Fraud team. Haven't heard back from TransUnion, but I thought I would call to follow up soon. Haven't done so yet, but will soon and will update!