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UGH! Feel like I'm starting again from square 1...


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I admittedly am not very "deep" in the process. I've done a round of disputes with EQ and got several TLs removed from our reports. I'm in the middle of disputes with the other two as well as sending out DV letters to some of the real baddies.

My score is 574 and my husbands is 587.

We are gearing up to buy a home hopefully this year, so the goal is to get to 620 asap. Don't know if that will happen but we'll see..........

I spoke with a lender today and he gave me some info that is contrary to what I've learned here and I wanted to get some input....

1) He said to pay first and negotiate for a delete later. He said that if they don't delete, that you then can challenge with the CRAs and it will most likely get removed because the CA/JDBs have no interest in maintaining the TL.


2) He also advised against disputing because he said if you owe money, there isn't anything stopping them from putting the TL BACK if it gets deleted. ????

3) He also said (and I'm pretty sure he's wrong) that there is nothing stopping a CA/JDB from re-reporting and "starting the clock over". He said that is the case with several of my lines, they've been re-reported every year or so to "start the clock over".???


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There is one of two possibilities, your broker is trying to deceive you to keep you scores down or he is a buffoon.

1) False, that would be like going to the dealership buying a car and then wanting to negotiate the purchase price. The CA/JDB wants one thing, the money you have. Short of suing you, and even then in some states that will do them little good. You have to be willing give it to them, hence negotiations. While some may not bother to reply if disputed others will hang on to that TL tooth and nail.

2) Again wrong, if the TL was disputed and removed then it was because it could not be verified as accurate. The FCRA defines the requirements for accurate reporting. If indeed the TL legitimately returns then really you are no worse than you are today. Rinse and repeat.

3) Again he is wrong. What stops that, is called the FCRA, the clock starts from the DOMD from which the account was not brought current, period. He is likely referring to updating the TL, tricks FICO models to see a more recent event, but the reporting period remains the same.

I hope this puts you a little at ease don't stop now! You should also brush up on Calif version of the FDCPA, it is the Rosenthal act and is much more restrictive than FDCPA alone. Good Luck!

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It is frustrating to hear that you are being told this type of information. I am sure it set you into feelings of self doubt and wondering if you can ever overcome these problems. Makes me feel bad for all those people out there that do not have or do not know how to get access to relevant information that can help them.

Good luck.

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You say this is the "Lender". Are you sure it isn't a broker? To be honest given the inaccurate information you are being provided with I would seriously reconsider his fitness to give accurate advice on a major financial transaction such as a mortgage/house purchase.

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I will tell you this, What the lender was telling you about paying the debt then goodwilling it off later, this was for underwritting purposes ONLY, underwritters will accept a PAID CA better then a non paid CA.

A PAID CA hurts your scores just as bad as a non paid CA. DV and if you agree with the validation PFD it, but only if they DELETE not update it.

Underwritters DO NOT like to see accounts listed as in dispute or dispute resolved

Nothing can restart a SOL clock unless the account HAS BEEN BROUGHT CURRENT.

This one STINKS like rotten fish! look at your reports VERY and I mean VERY carefully, read the inquiry section hard and soft and look for any inquiries from companies that you do not recognize, a CA will do what is called "fishing" or "ghosting" and when they find out you are trying to make a big purchase will slam your report because they know the account will be conditioned by a lender to be paid off before you can close (sneaky Bast**ds), they also know you WILL NOT dispute it because you don't have time for that and will just pay them, this should be ILLEGAL as hell but it isn't.

Another red flag for underwritters is new accounts, this is a NO NO, so if you plan on buying in 6 mos to a year DO NOT open any new accounts and keep your inqs down.

Another warning, if you have a CA that has been on your reports for more then 24 months doing a PFD will possibly drop your score (not by much though), why? AGE, you will be losing the AGE of an account, doesn't matter if it is a bad account or a good one, the ones that hurt the most or will not change your score are the ones that are older then dirt, 3-4-5-6 years old.

If you go through HUD or USDA they require that you have NO CO's in the last 24 months, personally, I think that is hog wash, if it is CO and only 24 months old you can still be sued by the CA and thus have a judgement, garnishment or a lien on your new home NOT COOL!

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