Just found something a little fishy on my credit report!

[thedarkwolf]

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]

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]

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?

 

[Emulex]

all you want to learn about credit.

read the message board or site.

board.creditnet.com
www.creditnet.com
www.millcbs.com

good stuff

 

[Adul]

good links emulex.

 

[Frenchie]

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]

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]

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.

 

[Moonbeam]

I never done mine.

 

[rahvin]

<<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]

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]

thedarkwolf: credit reports are not updated frequently. That entry will probably disappear in a few more months....

 

[Ender510]

Emulex: thanx for the links.. good stuff.

 

[pmark]

I think it varies by state because I think in Mass you can get a free one each year.

 

[Thorn]

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]

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]

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.