Issues with updating

[Anonymous]

I am not sure if this would be the correct board to ask, but I am hoping some of you have input that will help us out. We have been working very hard over the past year to improve credit scores and have managed to pay off all collections and establish three great lines of revolving credit. We found the home of our dreams and applied for a USDA loan. While the equifax score was way above the minimum required, Transunion and Experian were still below, both at a 603 and almost 50 points behind what the Equifax shows. On equifax all three lines of revolving are showing and all of the collections are showing paid and closed over three months ago. On experian and transunion there are lines of credit not showing up and also collections accounts STILL reporting as open and not paid. I have the receipts where these were paid in full over three months ago. Why has these two bureaus not updated?!?!? What do I need to do from here? Our Loan Officer said that those collections reporting incorrectly cost us the loan ... and in turn the home of our dreams    I'm so frustrated at this point!!!

[RobertEG]

Once a party reports information to a consumer's credit file, they have a continuing statutory requirement to maintain the accuracy of that reporting.

Send them a direct dispute of the accuracy of their reporting, reminding them of their statutory obligation under FCRA 623(a)(2) to timely update the accuracy of any information reported to your credit file.

[llecs]

I'd call the creditors you opened the CCs with and see if they even report to EX and TU. Most all do report to all 3, but there are some oddballs out there.

In order for a FICO to be generated, you have to have open accounts at least 6 months old. If your lender provided these FICO scores you are citing, then you have other open accounts reporting and helping your score aside from these CCs. Therefore, I'd focus on the collections. I'd call them and ask if they'd delete since you paid them. Per FICO, if they update to $0 and closed, your FICO score will not change. paying a CA never helps your FICO.