Jeff0222

Help with my TU Credit Report

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Hi, on my TransUnion Credit Report, 65 pages, I have a number of questions and wondering if anyone can help me out:

 

  • Shows 7 addresses, i have lived at 4 of the 7.  2 others are family members, never lived there, and one i have never heard of?  Is this an issue and should i worry about it?
  • I have 5 adverse accounts. What can i do to change? 
  • 1 adverse is 60 days late on a cc bill from early 2010. every payment after that was "ok" and on time.
  • 1 adverse is my past mortgage, I want to purchase a home this year.  It will be 3 years in november 15 since I short sold my last home yet I did go  past due for 8 months in 2012.  Am i screwed or can i make that happen?  The home never did foreclose and again did short sell.  Here is the description........Remarks say "Settled - Less Than Full BLNC<; >Acct Paid, Foreclsr Started..........
  • 3 adverse marks on medical bills.   Total is only $1,100 for the 3.  Should I pay those off or do i let them sit and fall off in 2017,  and 2 in 2018??
  • I have over 40 loans on my credit report from school for my masters degree. They have now all been sold and report as 2 loans but they all still show, yet all in good standing as "closed". Is this hurting me?

 

Again, I want to purchase a home end of this year that i currently live in today.  Is this going to  be likely.  I have not ran my other reports but if I remember correctly, one of the three, said foreclosure, which is not true. What do I need to do.  I am married, but my wife does not work.  thank you in advance!!

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Shows 7 addresses, i have lived at 4 of the 7.  2 others are family members, never lived there, and one i have never heard of?  Is this an issue and should i worry about it?

 

You can call TU and dispute the addresses as never having been  yours and get them removed.  It isn't an issue as far as getting credit but I recommend the report being accurate.

 

I have 5 adverse accounts. What can i do to change? 

 

Depends on what those accounts are, when you defaulted, and if they can still sue you.

 

1 adverse is 60 days late on a cc bill from early 2010. every payment after that was "ok" and on time.

 

1 adverse is my past mortgage, I want to purchase a home this year.  It will be 3 years in november 15 since I short sold my last home yet I did go  past due for 8 months in 2012.  Am i screwed or can i make that happen?  The home never did foreclose and again did short sell.  Here is the description........Remarks say "Settled - Less Than Full BLNC<; >Acct Paid, Foreclsr Started..........

 

A late payment 4 years ago is likely not doing any damage with a history of no lates on that account after that.  Past due for 8 months 3 years ago could be a problem since it is a mortgage and now you want another mortgage.

 

3 adverse marks on medical bills.   Total is only $1,100 for the 3.  Should I pay those off or do i let them sit and fall off in 2017,  and 2 in 2018??

 

If you want to buy a home you will need to have those paid off or removed from the credit reports.  Outstanding debt of that amount will be a huge red flag to underwriters.  They do not want any debt that could become a lien on the property.

 

I have over 40 loans on my credit report from school for my masters degree. They have now all been sold and report as 2 loans but they all still show, yet all in good standing as "closed". Is this hurting me?

 

Closed and in good standing is doing no damage at all and probably helping.  Leave this alone.

 

Again, I want to purchase a home end of this year that i currently live in today.  Is this going to  be likely.  I have not ran my other reports but if I remember correctly, one of the three, said foreclosure, which is not true. What do I need to do.  I am married, but my wife does not work.  thank you in advance!!

 

You need to order hard copies of all 3 credit reports and find out what is on them.  No mortgage lender is going to go off one bureau they will pull all 3.  

 

I am not going to tell you that buying a home this year is impossible but you have A LOT of work to do to get another mortgage approved.  I would recommend taking the hard copies of your credit report to a broker and discussing the stumbling blocks to home purchase and what you need to do to get approved THEN start working on those items.

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I say the addresses could be a big deal.   The way the "e-Oscar" automated system works is that the CRA can see what has been reported by whom.

 

Elaborating just a bit: Addresses get on your credit file one of two ways:

  1. You self-report the address usually by credit application
  2. A data furnisher (creditor / JDB / CA) reports the address

If these aren't addresses that were ever yours, then it's unlikely they came from a credit application.  (If they did, you could have ID Theft... are all of the accounts yours?   Don't answer that, just think about it to yourself  :yahoo: )       

 

If they didn't come from a credit application, then they came from a data furnisher.   If those faulty addresses are still the most recent address with one or more data furnishers, then Trans Union will be loathe to remove the address since it is a currently reported item.   If this is a zombie debt, i.e., it's not being actively managed anymore, then removing the address for that creditor is a big deal.   Why?  Because one of the primary keys the automated dispute system looks for is a match on the address field.  If that isn't there, the account will (usually) fall off during a dispute.  

 

 So, one decent strategy to try when doing credit repair is:

  1. Remove all old addresses.  
  2. Wait 30 days.  
  3. Dispute all TL that might be attached to those old addresses..

Note: this won't work for those creditors who are still actively managing your account.   In fact, it may cause those creditors simply to update your address, send you a notice, and restart their collection efforts, including phone calls, and potential lawsuits.

----------------------------------------------------------------------------------------------------------------------------------------------------

 

 

That's a bit esoteric and long-winded.    But, that answers that first question about addresses.

 

The rest of your stuff sounds pretty minor.   The 3 year old short sale is bad, but it's not horrendous.   I don't think it's a deal breaker by itself.   

 

You can always get a true FICO score at myfico.com to see how it's affecting your score.   With 65 pages of positive history, and this thing being 3 years old, I bet you're still above 700.

 

Before following the above poster's advice and going to a bank / broker with a flawed credit report, I would go through a full round of credit repair, dispute all negative accounts, all late payments, everything.   Do it by mail; don't do the online dispute.   Tons of strategies you can try:

  • Disputes under the FCRA (re-investigation)
  • Disputes with the OC under FACT Act
  • Debt Validation letters under the FDCPA with the collection agencies
  • You can negotiate with the collection agencies and offer PFD
  • You can (potentially) file lawsuits

 

There is more than one way to skin a cat.

 

That's just the tip of the iceberg.   Stay!  Look around a bit!  Read!    There are people out there (lots of them!) who have enriched themselves and gotten their credit fixed at the same time.

 

Your issues sound minor compared to some of the stuff I've dealt with in the past.   I would wager you can fix these problems with some research and effort.

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@Bigwoodystyl

 

Disputes with the OC under FACT Act

 

 

 

Before doing the above, a dispute must be made with the credit reporting agencies in order to have a private right of action for any violations of the Act.

 

 

Debt Validation letters under the FDCPA with the collection agencies

 

 

 

Unfortunately, the debt collectors would not be required to respond and could continue reporting.

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