Credit Bureau problems!!!!!!!
- Thread starter Rob Taggs
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- Sep 28, 2002
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Yes, I'm wondering why the underwriter doesn't take the proof of payment?
I have/had stuff on my credit report from my late mother. I had the same issues that you did. When we researched a second mortgage a while back ..the lady pulled up my/our credit report and said "You have several accounts that were written off." I told her that they were my dead mother's and showed her documents that were addressed to me from recovery agencies and the creditors that had HER name on the account.
The problem arrose when I was also an account holder with the same company. For example, Providian was my mothers creditor. They went under and were bought by ...(I think) either Chase or Citicorp ..who I also had accounts with. Some internal machinery linked my name and address with my mothers newly acquired charge off of about $15k
There was never any collection action brought forth from any agency over 7 years.
Anyway ..we didn't get the 2nd at that time ..but it was approved and we would not have had to pay any of those debts of my mothers to get our money out.
The main problem was that all of our credit card contracts ties your interest rate to your credit rating. One day I saw that my rate was jacked. All my accounts were in the 0%-5% rates due to my credit rating. So I got those debts cleared off of TRW ..NO PROBLEM ..then it showed up on Equafax ..they didn't clear it ..then it got sold from Providian to Citi (or Chase) ..another cleared item put back on from a different creditor. Get the picture?? I felt like a goalie with no defenders with the NHL all-stars with a generous supply of pucks taking slapshots at me. You can "STONE" em for a while ..but it was like "Whack-A-Mole".
I just paid off the credit cards and kept the documentation if I needed a loan.
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