Removing correct information from my credit report?

[creditworthy]

Hello everyone,

Since the information on my credit report seems as accurate as I can guess I thought I was stuck with it but after poking around these forums I got to wondering if there was some way I could speed things up. I am looking at doing a no doc purchase on a multi family and it would really be nice if I could get the middle score over 700.

My biggest blemish is a Chase account that I paid off in 2000(?). At least I thought I paid it off. The report shows a stream of delinquencies spanning two years then it was turned into collection 8/2002 and shows as a paid charge off the same month. The amount, $4. I do not remember paying this off, but I might have. I also do not recall being notified about this at the time, but it might have gone out with the junk mail.

I also have an old Kohl account from the same time period that built up lates to 150 days late, then was caught up and stayed caught up until 1/04 when all of a sudden the final month it was 150 days late again??? This account shows as paid, though.

Both of the above accounts were closed by the creditor. I am bothered that a $4 collection can cost me thousands on my mortgage a couple years after the fact but if that is the case then so be it. I just thought I might post it here because members of this board seem to come up with ideas I had not considered.

Thank you for your time!

[Rezin]

I would DV them, and dispute them with the CRA's

Also, pay down your CC balances as much as you can, for a fairly good score increase if you can do it.

[creditworthy]

Thanks Rezin,

I guess I need to poke around a bit more. I thought a DV was to verify the debt had been passed properly to the CA? In this case the OC still owns both accounts and there is no CA, even the collection appears to have stayed inhouse.

I also feel odd about disputing a tradeline that is probably technically correct. Especially on the Kohl account. What if they investigate and find out the error goes against me and the truth is worse than what is reported? I wonder if I should call the creditors first?

I will be paying off my last 5-6k on CC in a couple weeks but I do not think it will give me the boost I need because it represents less than 15% of my total revolving credit allowed.

[tropicaljo]

Hey there, creditworthy!

When I first started out, I didn't know you weren't supposed to DV the OC's, so I sent everybody DV's, including OC's. I just told another member about acting like the dumb consumer that the creditor assumes you to be, at least with initial communication. Looks like both of your accounts are about 4 years old...I'd write both of them and say, "Gee, I could have sworn I paid these off...please send a payment history so I can be sure I'm paying something that I'm responsible for paying... 8) "

And as far as working on getting a correct tradeline deleted. Common knowledge...you can't get correct info removed, but you CAN challenge the CA or OC's right to report the debt. If they don't have the proper paperwork to back up their right to report the debt, ie. signed contracts, payment histories, etc., then they have to stop reporting the debt.

[creditworthy]

Thanks tropicaljo,

I guess getting a written history of each account would be the most sensible place to start so I know what I am working with. I have no doubt the have all the necessary paperwork to keep reporting, it is just how my life works.

[flacorps]

The line you always see is "accurate negative information cannot be removed from your report" ... which is very misleading. Accurate negative information need not be removed from your report, however, you are free to pester, bluster, cajole, lie and simply repeatedly dispute (every 60 days or so) until you either succeed or get tired of doing it.

Even if the CRA, OC or CA would be mistaken to remove it, at some point you may trigger that mistake. Or you may trigger the "frivolous" response from them. That's when the going gets tough and the tough get going.

[creditworthy]

The plot thickens.

I called Chase and they have no record of my account and all they could offer was a fax number to send inquiries to. I faxed them a letter asking to delete all derogatories or in lui of that to send me all the verification stuff.

Kohls was a different story. They had my record on file and show me 120 days late on Oct 2001 then caught up and current until Feb 2002 when I paid them off in full. On the credit report is shows 120 days late in Sept 2002, Oct 2002, and Jan of 2004! It also shows DOLA of Feb 2002 so there is obvious errors in place. When I mentioned the discrepancies, the representative conferred with her manager and informed me my only recourse is to dispute with the CRA.

It appears now I am trying to remove INcorrect information and it is time to start sending CRA disputes.

[creditworthy]

What a differance a derogatory makes!

Chase responded almost immediately to my faxed letter with an apology and full deletion. Kohls took a little longer but deleted the derogatories after my plea through planetfeedback.com. I also had a mortgage late but my credit union cited FCRA obligations to leave that one in place in response to my goodwill letter. I was still two for three.

With the old inquiries I was not sure how the scores would add up but was amazed when I made a mortgage application yesterday and found out my middle score is up to 776!

Thank you to one and all! I would not have done it without the credit boards.