Hello I did a short sale in 2014, it never affected credit and I actually got another VA home loan in 2018. However it appears to have finally showed up a few days ago as a 'derogatory remark' on the closed Wells Fargo mortgage account, on my CreditKarma portal, under TransUnion.
So I immediately signed up for TransUnion's official portal...where it is nowhere to be found? No remarks, WF mortgage showing as closed. It has been about a week and multiple refreshes to no avail. I submitted a dispute regarding the timing. I should 'pay the price' back in 2014...not 6 years later. Maybe this was accounted in the score drop amount? It went from 750ish to 670ish. Nothing on the other bureau portals either.
Anyone experience anything similar with delayed remarks?? Should I just sit tight and await dispute results?
The FCRA imposes no time constraint on inclusion of information in a consumer credit file/report after occurence of the event.
It only imposes a time limit upon how long after occurence that the information may continue to be included in a credit report provided by the CRA.
The FCRA requirement regarding credit reporting is that reported information cannot knowlingly be inaccurate.
Lack of prior reporting does not disadvantage the consumer with respect to its affect had it been reported earlier.
The consumer, in fact, benefits by having years of not having the adverse information reported and affecting their score prior to the date it was eventually provided.
There is no showing of inaccuracy in the reported information, as required under FCRA 611(a) for establishing a dispute, and thus any dispute could be dismissed as being "frivolous or irrelevant."
Unfortunately they are well within their rights to put the negative information at any time within the 7.5 year reporting period. Just because they hadn't done it up until now doesn't mean they lost that right. Since the negative info has been added, all you can really do is wait until it falls off, or try writing them GW letters and hope someone who can do something about it takes compassion and removes it. But disputing accurate information won't help.
OK Thanks all, that does make sense. I was not aware of the timelines being so fluid.
Now it has totally disappeared as of this morning? What gives? It would be nice to have them consistently report
I would just be thankful that it's approaching the 7 year mark and doubly thankful that it didn't mess with your 2018 app.