Good Evening everyone. I am seeking some advice about my current situation. I am in the middle of buying my first home and received a phone call Fri 11/16 afternoon from my LO stating that I needed to have a consumer dispute comment removed from my file. After speaking with the customer service from Asset Acceptance I was told I could submit a letter requesting the removal of the comments but it will take 10 days to process. I then called all of the CRAs but reached answering services due to the weekend. My question is should I just pay the debt if I can get Asset Acceptance to mark it as a paid debt (not settled). My closing date is scheduled for 11/27/12. Any advice or assistance would be greatly appreciated.
Even if paid the comment will remain. Was paying it a condition? I'd work with the CRAs to get the comment removed. There are quite a few threads in here talking about it. I'd also pay off the collection. Maybe Asset would be willing to delete when paid.
After calling nonstop for 4 hrs, I was able to speak with someone in Disputes and have them remove the comments. She was able to send me the notification I needed as well so the persistence paid off. Now patiently waiting to hear back from the underwriter
Been there. Done that. Send a certified letter to the original lender and tell them that the account is no longer in dispute. Also send certified letters to the credit bureaus. It our case, it took less than 2 weeks to have the dispute comment removed. I don't know if they will require you to pay the balance or what impact that will have on your loan. We were disputing a late pay. In the meantime, tell your lendor that the underwriter does have descretion to overlook the dispute comment if the account shows a zero balance. Some underwriters will, most will not in the case of FHA loans. It is worth a try.