Rescore did not work?

gpeach · ‎04-03-2009

We had one recent collection arranged a PFD. The PFD letter they sent me specifically says we paid in full and they requested it to be deleted. The LO did a rescore for that tradline on all 3 CRA but it did not "work". It is still there on all of them. And I got letters today from one CRA about the investigation saying the creditor is reporting a zero balance for this account .Does not mention anything about delete as if they only read the first half of letter.

Was it the rescoring company or CRA fault? I called the CA a couple weeks ago as I noticed it updated but not removed. They said it was supposed to be removed but it was at the time only reported as paid. They then said they updated the file for delete and it should be gone soon. The LO said they would rescore since it still was not changed.

Then when the rescored they disputed it on my report too. I don't understand that one. Why would they dispute his item on my report?

Anyone have this happen?

Anonymous · ‎04-04-2009

@gpeach wrote:
We had one recent collection arranged a PFD. The PFD letter they sent me specifically says we paid in full and they requested it to be deleted. The LO did a rescore for that tradline on all 3 CRA but it did not "work". It is still there on all of them. And I got letters today from one CRA about the investigation saying the creditor is reporting a zero balance for this account .Does not mention anything about delete as if they only read the first half of letter.

Was it the rescoring company or CRA fault? I called the CA a couple weeks ago as I noticed it updated but not removed. They said it was supposed to be removed but it was at the time only reported as paid. They then said they updated the file for delete and it should be gone soon. The LO said they would rescore since it still was not changed.

Then when the rescored they disputed it on my report too. I don't understand that one. Why would they dispute his item on my report?

Anyone have this happen?

The dispute looks like it is because you have asked the CRA to look into it, by doing that you are effectively disputing what they are reporting and therefore as long as it is under investigation it will show up as a dispute.

As for the delete, if it was reported incorrectly and the first time they knew that was two weeks ago then even if they contacted the CRAs immediately it can take anywhere from 15 - 45 days for that information to update. So you may have to wait another couple of weeks before it will go off there once the CRA has pushed the change through. Do you have the letter from the CA agreeing to a pay for delete? If so then you may want to send (a copy of) that to the CRA by registered mail and ask for it to be removed.. or you could just give it more time

gpeach · ‎04-04-2009

Do you have the letter from the CA agreeing to a pay for delete? If so then you may want to send (a copy of) that to the CRA by registered mail and ask for it to be removed.. or you could just give it more time.

Yes I do have a letter from the CA which states I paid in full and that it was to be deleted. The LO had that and used that in the rescore.

SonorityGenius · ‎04-04-2009

It seems like you disputed the account with your CRA and than with the CO and it was sort of a mute vs deaf resolution (no offense, called a 1-2 punch elsewhere)

I would follow as suggested above and fire off a copy of the agreement letter CMMR to all 3 CRAs and another one to the CO stating the said account has not been updated.

Anonymous · ‎04-04-2009

Also, just wanted to point out just so you are not confused...it can take quite a while for your credit reports to be updated from the time the creditor sends in the request to have the item deleted. Just because they had already sent you the letter, doesn't mean it was already deleted from your reports. Before you have your lender do a rescore in the future you would want to monitor your reports first to make sure the item was indeed removed, otherwise, you'll end up with the unwanted result that you had this time....a rescore only to find the same old stuff...

gpeach · ‎04-04-2009

When I did the PFD the CA gave me a letter back as proof paid and the agreement of deletion. At 4 weeks it showed updated but no deleted. My loan officer suggested the rescore so we did not have to wait another 4-6 weeks. We already missed out on a great house and I am having a baby in May. Once this is updated we will be approved.

Anonymous · ‎04-04-2009

Sorry to hear about your missing out on the house and having to deal with all of this at the end of your pregnancy. I'm sort of surprised your loan officer would recommend a rescore knowing the item had not yet been deleted from the reports. I would def. send in a copy of you letter to the credit bureaus to have it removed. Unfortunately, as long as this stuff takes, you will be missing on stuff in the meantime. Perhaps you'll wind up finding an even better house and in the end it will all have been meant to be! Good luck.