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I recently applied for a mortgage refinance and found out that a collection agency had reported a debt of $166. This $166 dropped my fica score by almost 100 points. This seems outrageous to me, how someone with nearly perfect credit since first establishing credit could possibly lose a 100 points for this. Now instead of a very low rate, I'm stuck having to wait 30-45 days hoping this is fixed and the rates are still low. The debt is a dispute I had with a company over a service they performed that I did not approve or consent to. I have contacted the business and they've agreed to call their collection service, TEKcollect, to have it removed from my report.
I geuss my question is, in these cases who does the burden of proof lay on. Is a simple invoice from the company with no approval by the consumer validation enough to be put on a credit report. How would I go about keeping a disputed debt like this off my report. A debt that has no contract, approval, or any link to my social security nu... Read More
New Credit Score Calculati...
I recently used AnnualCreditReport.com to obtain yearly reports for myself and my wife. One of the Big 3 (I cant remember which) offered a credit score along with the free report for $5, and I bought a score for my wife. Her score was 912. We are confused by this...FICO cuts off at 850 if I remember, so I assume this is a new method of calculation of scores, at least by that Bureau. Their range apparently runs up to 1000 for "perfect credit" score. Can you shed any light on this? Are you aware of any change in score calculation methodology, either across the board, or by any of the Big 3? What would a score of 912 equate to per the standard FICO formula?
Soci... Read More
Taking Over a Credit C...
My father recently passed away and as the Executor I have the option to take over his credit card. I know he has had a very long, very good history with this credit card. Will taking over this credit card change my credit score (... Read More
No Credit At A...
If you do not have a credit history and you apply for numerous credit cards or credit financing in a short period of time, does it hurt your non existing credit sco... Read More
can A paid off medical debt be disput...
Hi,I have paid of a medical debt. It was supposed to be paid by my insurer, but it was handed over to a CA. Then I paid it off and then got it reimbursed from my insurance.But it still shows on my CR as paid. and is certainly hurting me to get good rates for my dream house.. How can I dispute it ? Can I dispute it ... Read More