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Dillards & TU...I could go postal!


dgold21
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I'm in escrow on my first house, and am due to close in a few weeks. During this time, I'm continuing to try and increase my scores. I paid off a number of credit accounts, all good tradelines, to show zero balances and try to increase the scores. After they were paid, I had the creditors send me zero-balance letters, which I then forwarded to the CRA's to try and get the balances updated more quickly.

WELL, when TU verified the balance with Dillards, they updated it as zero, but also reported it as a PAID COLLECTION! Score dropped almost 100 points overnight. I called Dillards, and they verified it was a mistake, said they would send updates right away to the CRA's, and they sent me an apology letter. It's been a week since I talked with Dillards, and the tradeline still has not been updated. Time is running out before my lender will want to pull my score again. What can I do?!!!

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  • 2 weeks later...

bump/update

Dillards has basically verified to me that they have never reported this account as in collections...never even had a 30-day late in 6 years. They've sent me documentation, which I have forwarded to TU trying to get this updated. They basically keep telling me the documentation is not in the "correct format", whatever that means. The last set of docs that I faxed (at their request) on last Thursday, hasn't even been reviewed yet. They just won't listen to me!

Doesn't it stand to reason that if the payment history has been flawless for 6 years, that there would be no reason whatsoever to put the account in collections?

If this error in reporting causes my escrow to fall through, what recourse do I have? It is TU's error, not Dillards. I stand to lose $1350 in deposit and appraisal fees if this deal doesn't go through. I've got less than two weeks to close this thing.

Someone throw me a bone!

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Show your documentation to your lender, ask them to "Rapid Rescore" . check out the Mortgage forums for more information on Rapid Rescore they can explain it much better than I can. But, as I understand it it is a way(for the lender) to get your report corrected virtually overnite, provided you have documentation (which it sounds like you do.)

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Another update...

After my last barrage of phone calls and faxes on Tuesday, TU removed the "collection" status on this tradeline today! FICO for TU jumped 85 points.

I had almost given up on this one...glad I didn't. Now I can move on my mortgage...

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