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Just found something a little fishy on my credit report!

thedarkwolf

Diamond Member
Oct 13, 1999
8,960
89
91
I have been considering buying a house so while screwing around tonight I came across one of the sites that lets you see your credit report for a couple bucks so I figured what the hell might as well look at it. Well everything is ok except in 1998 I got a $1000 loan from my credit union and I paid the thing off a long time ago but it still says I have a Balance of $47 and a balance date of Aug 1, 2000. The wierd part is it doesn't show me as having any late payments. So what the hell is going on? I was planning to go down there later today anyway to see if they would give me a house loan so I guess I will ask about this while I am there.
 

Tauren

Diamond Member
Jan 30, 2001
3,880
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1. Have them re-report it as paid off.
2. Why would you PAY to look at your cedit report, when you can get it for free, once a year, from eaaach credit agency?
 

Cable God

Diamond Member
Jun 25, 2000
3,251
0
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Tauren, some people don't want to wait a week to get it. It's that instant gratification to know it right then. He wanted to go to the bank that same day, so, why noy pay a coupla dollars? :)
 

Frenchie

Moderator Emeritus<br>Elite Member
Oct 22, 1999
2,255
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Tauren: Not everyone is entitled to a yearly free credit report. THey must fit within the federal guidelines.


thedarkwolf: The quickest way to get rid of it is to file a dispute. Trust me I represent creditors (credit card companies, banks, credit unions, et al.), and that is the way that the generally prefer that you handle it.
 

MrBond

Diamond Member
Feb 5, 2000
9,911
0
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Yeah, I was gonna order mine just for the heck of it, but I'd hae to pay :). So I guess I'll just hope for the best, even though I'm pretty sure mine's alright *knocks on wood*
 

Tauren

Diamond Member
Jan 30, 2001
3,880
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Frenchie No, ANYONE is entitled to a copy of their credit report once a year and when ever they are turned down for a loan.

EDIT - unless the laws have changed in the past 2 yrs.
 

rahvin

Elite Member
Oct 10, 1999
8,475
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<<Frenchie No, ANYONE is entitled to a copy of their credit report once a year and when ever they are turned down for a loan.>>

The law only says you are entitled to one if you are turned down for credit. The big three credit agencies used to give a free one every year, they stopped that in 99.
 

Frenchie

Moderator Emeritus<br>Elite Member
Oct 22, 1999
2,255
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Tauren:

Wrong. See rahvin's post. If you are denied credit within the past 30 or 60 days, you are entitled by law to a free credit report once per year. Same is true (free, once per year) if you live in certain states (about a half dozen).
 

Shazam

Golden Member
Dec 15, 1999
1,136
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thedarkwolf: credit reports are not updated frequently. That entry will probably disappear in a few more months....
 

pmark

Senior member
Oct 11, 1999
921
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I think it varies by state because I think in Mass you can get a free one each year.
 

Thorn

Golden Member
Oct 9, 1999
1,665
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Credit checks actually lower your credit rating (by 1 point each time it's checked)... I'm not sure if reports do the same, but if they do you may not want to get a report too often.
 

forkd

Golden Member
Jan 17, 2001
1,122
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Absolutely, when anyone looks into your credit the log of that will reduce your total score. Companies that scan randomly for qualified clients still log but do not lower the score(Fair Issac).
If you have problems with a reported items accuracy dispute it. You can file a dispute with the big 3 credit reporting agencies over the phone very easily. If the company with the inaccurate information cannot back up their claim the mark must be removed. This is pretty much the only thing credit repair companies do, file dispute after dispute 'til all is well and charge a &quot;hefty ransom&quot; for it.

I am a Financial Planner and the companies I represent check my credit randomly, kind of like a drug test. Once they found a $200. charge off 9 years old and another account overdue that didn't belong to me. Both were gone within 45 days.

just my $.02

Good luck
 

forkd

Golden Member
Jan 17, 2001
1,122
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By the way DarkWolf, If you want to you can get an approval letter from many creditors without even having a credit check based on the information you give them. The lender will also pay the fees for a credit check.....just don't forget they are in business to make money.
 

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