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Mokie74m

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  1. Mokie74m

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    I don't think it should be an issue as long as the sellers have enough money to pay it off at closing.
  2. Mokie74m

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    the seller will have to pay it at closing.
  3. Does myfico update all the credit scores or just the FICO8 scores? I signed up for their middle plan (3B) and it seems that the Fico8 scores update monthly but the "other" Fico scores don't. Is there a way for me to see what the other Fico scores are (i.e. Fico5, Fico4 and Fico 2)?
  4. I have a charge off with Macy's that was charged off in April 2010 and they reported no data for years after the charge off, however since January 2016 it has been reporting as a charge off every month (Jan, feb, March, April). They say that that is the correct status as it is a charged off account.
  5. I did dispute it and it came back as validated. Also by disputing it they updated the status on CR, where it was being reported as ND for years before the dispute.
  6. I am trying to settle a debt with Portfolio that is beyond the statute of limitations and is going to fall off CR in a few months. The debt is $614 and they want $429 (which is 71%). I offered $150 (25%) they refused which I figured they would but the Supervisor was obnoxious and kept saying there is no way would accept $150. I said there is no way I am paying $429 or anywhere near that. End result, after realizing the call was going nowhere I hung up. FYI the reason I need to pay this is our lender is requiring it be paid before closing. Any suggestions on how to deal with collection agencies and negotiating settlement?
  7. I don't know if it was sold to a collection agency but there's no collection agency on his CR for that debt just the OC is reporting it a charge off. The account was charged off in 2010 not 2006 (typo).
  8. My husband has a Macy's account that was charged off in 2006. We were approved for a mortgage but one of the contingencies for the approval is that we have to pay the charge off. I've never dealt with Macy's before, will they negotiate or do I have to pay the whole balance? Has anyone had success with a pay for delete with Macy's? Any tips or advice is greatly appreciated!!
  9. I'm definitely going to mention it to my loan officer. Thank you!
  10. It is for a VA mortgage loan. We were preapproved back in February and were told then that we had to pay the charge offs prior to closing. The loan is underwriting now for approval but the loan officer has that as one of the check list items we need to take care of prior to closing. Should I mention that the debts are beyond the SOL and are less than $2000 and see what they say?
  11. I know this might be a silly question but here it goes any way: my husband has two charge-offs that the bank obviously wants paid off before closing (one is for $880 and the other is for $611). Do I have to pay the full amounts or can I try and negotiate and try to settle for less? Basically I want to know if they bank will allow me to settle as long as I have proof that $0 is due and owing or will they require proof of the full amounts? Also, both charge offs are beyond the NY State Statute of Limitations. There were a bunch of errors being reported on the small charge off. For example, on the credit report it shows that this account was charged off in 2011 and sold to another lender, yet they are showing a monthly payment of $540. They can't report a monthly payment for a debt they do not own, not to mention that the $540 amount is totally wrong. For "Recent Balance" it is showing N/A, from my understanding due to the fact that the debt was charged off and sold to another lender it should be showing $0 balance for recent balance (I understand that it is still going to show original credit amount). There are a few other inaccuracies and I have disputed all of them with the Creditor (corporate office) directly. If they delete the whole account from my husband's credit report will the bank still require proof that the debt was paid with a $0 balance? Being that the creditor is no longer the debt owner and no collection agency is listed on the credit report for this debt, how do I either negotiate settlement (if they don't delete it) or get a $0 balance letter?
  12. I got the scores from Myfico yesterday. The Fico 8 score was a 587 (they said its the most widely used version). The Fico 5 score was a 651 (says this is most widely used for mortgage lending). Then of course there were a bunch of other scores, but they reference auto and credit card scores. So I still wanted to try and get the score up in case the lender used the Fico 8 or 9 scoring system. I understand what your saying about the charge off being 6 years old, however, since Portfolio updated the credit report status it is making it current, it looks as if it was charged off in March 2016 instead of 2011 and that is what dropped my husband's score so much. So I was just trying to see what I could do, if anything, about removing the current notations, even if they don't delete the account I was hoping to negotiate the March and April collection/charge off status.
  13. Is there a better way to deal with Portfolio? If not a PFD then what else will they negotiate? DO you think if I offer a settlement, ask them to mark it paid (instead of paid collection, etc) and ask them to remove the current status updates of C for March and April that they will agree? It was previously reporting ND for a little over a year.
  14. I am about to write a letter to Credit One regarding a charge off (from 2011) that they are reporting with a $540 monthly payment, they are also reporting the Date of Status as March 2016 (instead of March 2011 which they previously had been reporting for years. My credit report also says this debt was purchased by another lender and they updated the status to charge off for March 2016 and April 2016 when it had been reporting ND since 2011. So from what I have been reading, if a debt was charged off by the OC they should be reporting it as $0, however it is reporting as NA for recent balance. I've also read that it should not be reporting any activity since the debt was sold to another lender and that activity is the current 30 day status of the account. Being that they haven't owned the account since 2011 the only activity they should be reporting is ND. My question is how should I handle this dispute with the OC. Should I tell them to remove the $540 monthly payment as it is clearly a mistake, especially since they don't even own the account and advise them to remove the current status updates and report them as ND? Or should I dispute everything and ask them to delete the entire account from CRs. Are they in violation of FCRA Section 623? The original amount of the credit was $400. I disputed the debt as my husband didn't remember it and thought it might not be his and doing so, the verified it with the Credit Agencies and then that is when they updated the Date of Status to 3/16 and the status activity to be CO for March and April when it had been reporting ND since 2011. Any suggestions would be greatly appreciated.
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