As mentioned, we are first-time home buyers and are having our house built as I write this. Even as a newly self-employed blogger, we did get approved for a loan, but the rate is a bit higher than I would like and I would like to shop around. I have a hunch that part of the reason the rate is a little bit higher is because two of my student loans that I paid off years ago are showing as unpaid on my credit report.
It comes up to about an extra $15,000 of debt that Transunion has stamped on our credit report that is actually paid. So needless to say, I have been working to have it removed.
Here is the timeline so far…
07/15 – I notice that our loan application shows an extra $15,000 of student loan debt that has been paid in full. I call our lender and ask about it and he said, they pulled it directly from the credit report.
07/16 – I call both student loan companies and ask what I need to do to get this removed. One says they will send out a letter immediately proving that it was actually paid in full. The other requests that I fax over the page on the credit report with the error. I immediately fax the credit report to the number they gave me and retain the fax transmission verification report.
07/20 – I call the student loan company to see if they have taken care of the error yet. They explain that it takes 2-3 business days for credit report error requests to show up on the system (apparently another department does this, and I am not allowed to talk to them.). They confirm with me that I did indeed fax it to the correct number. They inform me that when it does “show on the system” it takes 7-10 business days to process and get it removed. They suggest calling back later next week to check on the status. I am frustrated, but let it go.
07/29 – It is now nearly 2 weeks after I faxed the document. I call the student loan company again hoping that the whole thing will be resolved at this point. They explain that nothing is showing on the system and that they haven’t received a fax from me. Again we confirm that I faxed it to the correct phone number. They again explain it will take 7-10 business days to process once they receive the fax and suggest that I re-fax it.
It is at this point that I realize the Lord is testing me to see how well I remember 1 Corinthians 13 😉 . I ask if I can email the document and talk to anyone there to verify that it was received and the answer is calm no. “Once the fax is received it will show up on the system in 2-3 business days,” they say. So basically there is no way to know if they got my fax until 3 days later. I should also mention that they said I don’t need to re-fax it because they are “taking care of it for me”, but still can’t tell me when it will be showing on “the system” or give me the number of someone to contact who will put it on the system. Then the conversation begins to turn as they more-or-less explain that it really isn’t their responsibility and I should just call Transunion. I ask the lady on the phone what she would do if she was in my shoes, she said she would check back in 7-10 business days. Without giving all the details, after 20 minutes of going round and round with someone who just didn’t get it, I give up and end the call because I am now more frustrated than I have been in quite a while.
Keeping at it…
The challenge in my particular case is that I am no longer a customer for this company and they seem not to have any interest in helping me resolve this. The sad thing is that this is probably one of the easiest credit report errors to get fixed. They acknowledge that it is paid in full, and I wish it were as easy as having a three-way phone call to have this thing settled in 5 minutes. But I have a feeling it is going to take a while.
I am not going to give up, although I am still trying to figure out what my next move should be. All I really need is to get something from them stating that it is paid in full. I hear that the lenders will be satisfied with that. It shouldn’t be this difficult…
Have you ever had the joy of trying to get errors removed from your credit report? Any suggestions?