Buying a house

Lesson learned #213:

The lender will ask you to ask your bank for a copy of every check you've deposited over $100 for the last so many days. In this case, 30 days, and the bank kept mailing the deposit slip instead of the actual check.

Not sure I'll go through this again, but I think the best advice may have been "start on paperwork earlier". We finished a day after the bank gave us the forms to fill out and the list of things they needed. Well, finished, save that check. We *should* have asked the bank proactively about that stuff, found out about the check earlier, and already have had it.

Well, one thing I know not to screw up next time. :-)

Email in, answer out

Gosh, I wish I had discovered your website last year! Last year, I settled a debt, and that settlement is still on my credit report. They never reported me as always paid on time, or any of that (I didn't even know to ask!). Is there any hope for me? I figure since I paid out to debt, I can't really ask them to prove it's mine. I mean, I gave them my bank account number and everything (haha). The original debt was through Wachovia bank, but it was later sold to a collection agency, so would they still be required to send me a copy of my signature?

As always, I'm not a professional, and my advice might be bad.

I settled debts with collection agencies without knowing that, either.
When I sent the letter to my credit agencies still listing that debt,
I said something to the effect of "this should be listed as paid, can
you please investigate this for me?" It didn't work every time, but
it worked at least half the time on the first letter, without going to
"prove it's me" or anything like that.

Probably is worth writing that first letter, and just ask the credit
agency to confirm that it's a valid debt, and see how it goes.

Another one from the inbox

I have a problem. I never knew any of the things that I know now. To make a long story short, the negative items that were on my credit report has been pd in full before I knew anything about negotiating the outcome. I did not know that an item had been posted to my credit report. I received a letter from a collection agency stating that I owed money apparently for a check that had bounced. I had no knowledge of this so I pd the agency as soon as I received the letter & asked them to send me a receipt. They agreed, but now they refuse to remove the item from my report saying that it will stay on my report for 7 yrs. This particular item had been placed on my report since 11/2005.

I know that it can stay on there for that length of time but it does not Have to. I tried explaining my situation to them, letting them know that I had been a victim of domestic violence & was staying @ a safe house for women & children during the time this incident occurred & they were really nasty like oh well, its staying on there for 7 yrs. Is there anything else that I can do to get this resolved? I was trying to purchase a house.

Is there any hope for this item to be removed? If so, can you please send me an email with you suggestions?

My answer:

Hello! Don't know how much help I can be, but glad to give a quick opinion. From what I've seen from other people, there are decent odds you can get it removed, but nothing is 100% certain.

I'd try sending a short letter to the credit agencies, asking them to investigate the negative report, and telling them (truthfully) that your account should be listed as paid in full. Don't lie, don't offer any extra information, just get them to look at it. Equifax takes a little over a month to get back to you, the other two agencies were quicker, last I knew. Write the letters in pencil and paper, and keep a copy for yourself; remember the date you sent 'em in.

If they get back to you and didn't take something off, you can contact the credit card company, and request they mail you written proof that the account in question belongs to you. "Written proof", as near as I could figure, was a copy of the original signed credit card application you sent in to get the card. If they don't have a copy of that, and/or can't provide it in a month, write back to the credit agencies, and explain that you've asked the creditor for proof it was your account, and they aren't able/willing to provide it to you; ask them to investigate whether it's your account. Again, always be extra friendly and polite, as it never hurts.

Basically, you're allowed to keep asking these things. If you ask too often, they're allowed to stamp "nuisance customer" on your file, and ignore stuff from you. But if you don't ask too often, most folks seem to report success on getting negative items removed from their record. I'm not sure what "too often" is, to be honest.

Again, I'm not a professional of any sort, and I don't guarantee the advice, but figure it can't hurt. Again, don't lie, and don't hassle them too much.

That answer any questions?

I've been behind

Got a few emails in:

On the info I received back from experian it allowed me to dispute each item of information. yet you don't say anything about that on your site,?? Are you saying it is better to send individual letters than use the experian web site?

My answer:

Don't use the website version to respond, send one letter to Experian listing all of the separate items you're disputing. Seems to work better if it's done in a written letter instead of submitted via the web.