Why is half of the stuff on my credit report wrong or outdated? ?
I was recently denied financing when I went to go buy some new furniture. It was only 970$ so I just paid instead of opening credit but I could not understand why I was denied. When I came home I decided to check my credit report(s). The Experian one was pretty accurate because I have 2 hospital bills and 1 gas bill that all totaling less than 400$ but I didn’t think that was a big deal because my credit score with them was still 715 which is considered in the "Good"range. When I checked the Equifax one there were 3 items on there that were paid off a long time ago one of them years ago. Is Equifax the one they check most often when opening a new line of credit? That would explain why I was denied. How can these companies get away with being so inaccurate? I spent all morning on the phone with Equifax disputing the charges and they told me it would take 45 days before I got any resolution to these matters. I know I don’t owe any money because I called the creditors before I called Equifax. Certainly these companies have to answer to someone. How can I make complaints on them?
I know I am to blame for not staying on top of these guys but why should I have to? Also How do people get 30k in debt when a guy who is only 400$ in dept can’t even get a 500$ credit card? this whole thing doesn’t make any since.
Correct, It was like they didn’t report my last payment. I had 3 items in collections that had a balance of the last amount I paid them. So they would keep reporting them every month I had a balance and when I paid them off they would just leave a very small balance on my credit report.
|
Check the Situation That Best Applies to You... And Then Click the Button Below to See Your Credit Scores Free I want my free credit scores I want to apply for a credit card I want to protect my identity Just curious
(Click the button above to see your Experian, Equifax and Transunion credit scores absolutely free) |
September 27th, 2010 at 11:43 pm
***I totally agree with your additional details section***
It took me 5 years to straighten out 10k of petty debt that did not belong to me and kept being reported.Some chick in Ohio, her 411 was being reported on my file.I have never been to Ohio in my life!!!!
>You have to make contact with the companies reporting the info to the agencies.Write letters, make calls, everything you have to do to get out of the collection agencies systems.<so tedious and
annoying.
September 27th, 2010 at 11:43 pm
Most credit stays on credit reports for 7 years, medical bills can stay on 10 years. Even if you have paid off a creditor, if you were 30 days late for any payments, it will show up, and it doesn’t get taken off just because you paid them off.
September 27th, 2010 at 11:43 pm
are you sure which one the furniture place used? contact the 3 companies that were paid off awhile back to update your file in writing.
but also pay the 3 current ones you have totaling less than $400 . you could have been denied simply due to the fact of owing 2 hospital bills.
September 27th, 2010 at 11:43 pm
Is your report saying you didn’t pay them off? Or is it saying that you paid them, but they are just still on your report? In either case, everything you’ve EVER done will be on your report. Paid or unpaid. So if it was late in the past, it will still show up that it was late back then and negativley impact your score today, depending on how long ago it was (7-10 years.) If you paid it, and it’s saying you didn’t, you might have to either a) order an updated credit report (it doesn’t update on it’s own, you have to pay for it.) or b) dispute the information.
Also, when YOU check your score, chances are you are checking your PLUS score. Which is through places like Free Credit Report.com etc… You can check your three (Experian, Transunion etc…) PLUS scores there. However, companies can pull any one of the three OTHER scores you get, but can’t see. They pull what’s called a FICO which is significantly less than what you see. Mine was 70 points LOWER than what it said on my report! Yikes!
September 27th, 2010 at 11:43 pm
The banks and multinational corporations are running the world so these credit bureaus can do whatever they want. I had to send certified letters and copies to get incorrect items removed from my credit report.
Maybe you could complain to your congressmen but they are probably bought and paid for by these corporations.
September 27th, 2010 at 11:43 pm
I’m not say that the credit bureau are not to blame because there is a human factor in this and they do make mistakes. The original credit has an obligation by law to update yoiur credit with the bureaus. Any of these factors could of cause the errors.
1. The original credit no longers uses that credit bureau, and you slip through the cracks when they changed bureaus.
2. They lost money on the debtor and they really don’t care.
3. The original credit was bought out by another creditor and why updating the computer systems you just dropped out.
This is why you are entitle to one free report so that you can stay on top of any errors that happen. Yes it does take time to correct. When you contact the bureau to dispute they have to contact the creditor and let them know that there is a problem then the creditor has to research it, so yes it takes times.
Everyone is in such a hurry to sue now adays no wonder it takes forever to get a true criminal into court.