The Famous Credit Question When Qualifying For a Home…
Getting a Collection account deleted
To remove a collection account from your credit report ,you must contact the ORIGINAL CREDITOR (the business that filed the collection) and make payment arrangements with them, contingent on them deleting or canceling the account with the collection agency it was sent to. You(the consumer) must obtain a letter from the collection agency that is reporting on your credit report stating the account is being deleted or cancelled. Then the credit information company can use that letter to remove the judgement.
Re-pulling Data After a Rescore
If the credit information company(CISCO) updates the account at bureau( Experian, Equifaxor Transunion) level, they can re-pull 1 or 2 bureaus if you only need a mid score adjustment, then they make a copy file combining the new score on a re-pulled bureau with an acceptable score from previously pulled different bureau, ONLY if the file has not already been submitted to automated underwriting. If one of the existing bureaus that has been re-pulled is still reporting old data, automated underwriting will see the old data, so if the bureau is reporting a late or other unacceptable data all bureaus that data have to be re-pulled after the adjustment is made.
Changing Input Data On a Credit Report
The credit info company can change a name, a social security number or address that has been entered incorrectly on the credit report and the file can be reissued, as long as it has not already been to automated underwriting programs, and as long as the correct information was retrieved from the bureaus. If the file has already been submitted to auto-underwriting, the credit file must be re-pulled.
Removing a Consumer Dispute Statement
To get a CONSUMER DISPUTES statement removed from CISCO report only, You have to sign and date a letter referencing the account(s), account number stating they do not dispute the account – CISCO can now use that letter to remove it from the credit report.
To get a CONSUMER DISPUTES statement removed at bureau level:
1. You have to get a letter from the creditor stating the account is not in dispute and was never in dispute
2. You need to authorize the creditor to release information on the account to all 3 credit bureaus (Equifax, Experian and Transunion)
3. You have to sign and date a letter referencing the account and account number stating you do not dispute the account. * NOTE: Item 3 is very important as there are 9 different types of disputes, only some can be removed with letter
CISCO can then send this info to the bureaus to have the dispute verbiage removed.
Judgements/ Tax Liens
In Maricopa there is a 5 year Statute of limitations on judgement where the court can intervene( this varies by state). The judgement can be ordered VACATED and dismissed after this period as long as the judgment has not been re-filed,(this rarely happens). You (the consumer) must go to the court in question and file a motion to vacate and dismiss the judgement. This will be approved by the court, which can be immediate or may take up to 2 weeks depending on their case load. Once they have this motion, you can send that to us to do rescore( credit bureau update) to have the judgement deleted at the bureau level.
Federal tax liens normally expire after 10 years. This will be noted on the original lien filing stating the lien it self release after the date in column (E) (on credit report). This document can be sent to the bureaus for a rescore( credit bureau update) and this will usually delete the entry. CISCO can also use this form to update the entry on a credit report as supplement ONLY.
Consumer Disputes (Manual Bureau Updates)
If you the consumer wishes to update an item on your credit report with the credit bureaus, simply go to CISCO homepage and click on “Documents” the “Consumer Dispute Form”. Fill this out, send it back to CISCO, and will forward that to the credit bureaus. This process normally takes 30-40 days.
BEST OF ALL…There is no additional charge for this service
