Credit Report Question
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Credit Report Question
| Fri, 04-08-2005 - 8:32pm |
Question regarding credit report: I paid my mortgage late last month (but not 30 days late) and called my mortgage company to let them know the payment would be a bit late. All is well and good until I just reviewed my credit report and although they are reporting my payments on time and paying as agreed there is a comment there that says "under payment agreement/condition: derogatory." Will this comment get taken off now, I paid them. My score went down about 50 points too! Any suggestions/comments/answers?? Thanks.

It shouldn't be reporting as derogatory if it wasn't 30 days late. If it dosen't show a 30 day late, it shouldn't be affecting your score. They won't automatically remove the comment, you will have to be pro-active. I would request a report from all three agencies (Exiperian, Trans Union, and Equifax). You can do this for free by phone, contacting each one seperatly. They will allow you to dispute any and all inaccurate info. The whole process, once you recieve the report will take about 30 days.
FTR, if you have any 30 day lates on your report...even if you actually did pay late...dispute them as well. Usually 9 time out of 10 it just gets removed. By law, places you have credit with have only thirty days to verify if the info is accurate. If they do not respond, it automatically gets removed. Because it cost them money to verify this, most places do not bother. There are a few that will however. Capital One and Citi are two that I can think of off the top of my head.
Good Luck!!!!