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Hello, if a similar post exists, please let me know and discard my post. Thank you. Three years ago, I had a lengthy short sale. At the end of the process, I settled with the bank by paying as much as we can on the loan with a balance as debt forgiveness. In the after settlement letter, the bank said the debt forgiveness will be reported as "account paid in full for less than the full balance". As little as I understood back then, I didn't think this would be a problem for getting a mortgage in the future when we rebuild our life. Now we are trying to buy a home and getting a mortgage, the lender pointed out this particular report on the short sale three years ago. Currently on my CR, it says: XXX Bank INS 03/11 91125 Coll/ChrgOff TRU01 acct#YYY 180 M 637 06/07 88215 0 * 03/11 637 3822 (EFX,XPN) SECURED UNPAID BALANCE CHARGED OFF The lender indicated that this line is a concern for the underwriter and should be changed to something like "balance is zero". Could you please give me some advice/directions how I can fix this: 1. Should I contact the short sale lender and request them to change the report? If so, what should I ask them to change to? 2. Or should I dispute with the CRAs (if it's disputable)? Thank you so much for your help!
I have the following items remaining that have $0.00 balances, (2) accounts are only showing one 1 CRA and I have 2 reporting to all 3 CRA's. Even though they have been completely paid for at least 1.5 years now they are still showing as "Potentially Negative". Is there a way I can have those deleted or moved to out of the "Potentially Negative" area? These are the last 4 accounts reporting in that area. VETERAN'S ADMN- Account #--9XXXXXXXXXXXXX Account Type--Installment Balance--$0.00 Date Opened--3/1/2011 (Completely paid off as of 3/2012) Reporting Bureau: Equifax COLLECT ASSOCIATES Account #-CXXXXXX Account Type-Collection Account Balance-$0.00 Date Opened-9/29/2011 (Completely paid off as of 9/2012) Reporting Bureau: Transunion G M A C Account #-3XXXXXXXXXXX Account Type-Auto Loan-Installment Balance--$0.00 Date Opened-11/1/2004 (Completely paid off as of 6/2010) Reporting Bureaus: Transunion/Equifax/Experian USA DISCOUNTERS CREDIT Account #-3XXXXXXXXX Account Type-Installment Sales Contract Balance--$0.00 Date Opened-9/1/2007 (Completely paid off as of 3/2010) Reporting Bureaus: Transunion/Equifax/Experian
hello, i havent posted on here in awhile. last time i did i still had several thousand dollars in credit card debt. i have finally (within the last month) paid these all down to a zero balance. i have been told by a couple friends of mine, that it is better from my fico score to use it at least once per billing cycle. my friends, although well meaning, repeat a lot of hearsay. so my question to the community here is: is there any advantage to using a credit card once per month and paying it off each month, or using it monthly and letting a small balance carry over, versus not using the card at all (emergency only) i have had these cards for 6months to three years. high balances for the last 8 months or so, up until the last 2 months or so, when i was able to get them paid off. I thank whoever takes the time to read this and share their knowledge with me. Also, happy 2014!