Found out I have a 120+ day late on credit report over$15 *killing my credit

CHOPTALK · May 24, 2009

2 years ago I get a phone call from HSBC telling me that I still owed them $15 bucks and it was 120days late.

I did not think anything of it, so I told told them let me pay the balance over the phone. I thought that was the end of that.

But I am in the process of wanting to buy my first home. I never thought about that day till yesterday when I did my credit score. It is showing 120+ late on this HSBC!!!! which totally wreacked my CS!

Here is how it happend. This HSBC was though H&R BLOCK. I owed a bunch of taxes that year and they had a program where you could pay your owed taxes to HSBC in monthly payments. It took about 4 monthly payments to pay the whole thing.

What I would do was make the payments over the phone thru a voicemail system.

On that 4rth and what I thought was my final payment I punched in the amount that the phone recording said I owed to pay it off. Well the payoff amount did not incluede the $15 phone charge fee that they were charging.

So I hung up the phone thinking that I paid off the whole amount until 3 or 4 months later they said I still owed $15.

Is there anything that I can do?

Is there any justice n this world at all?

Should I be stopped from buying my dream home because I had a leftover $15 from an account that I thought I paid off?

Surely there is something someone can do. Comman sense has to take over somehow.

I have and had loans far greater then $15.
I had no intention of not paying. I thought I paid the whole balance.

This has lowered my CS by almost 120 points according to a credit simulator.

Can I call these people and ask them nice to take it off?

Please help.

What should I do, and what can I do?

In2Win · May 24, 2009

file a complaint with a credit bureau. They will review the complaint with the company and chances are it will get removed. I don't know the exact site you can do this, but I did my own credit check and I had a bill that I never recieved in college because I moved. There was an option to file for a review of bad credit, I followed through answered a few questions and it got removed.

Shub · May 24, 2009

Well I lost my dream home because of them. I returned something I bought on my best buy card but it just so happened I bought it right before the billing cycle ended. So when I returned it I still owed $40 for the monthly payment for an item that I returned. Not only did I get screwed for that 40 but I was in my wifes country for a month and had no idea I owed them $40. My credit got messed up so when I went to get approved for rehab loan to by a bank owned property my credit score was to low because of these idiots. It was really demoralizing. I think about that house everyday.

ProPokerPlayer · May 24, 2009

Find a mortgage company who will overlook the obvious. Easily said but rare due to ur not being a minority. Try Churchill Mortgage Company.....If i run across their number ill post it...

billsfan · May 24, 2009

I honestly do not think there is anything you can do....I have something cheesy like this on mine, from Verizon like 3 years ago...Apparently, I was late paying my phone bill?? It has the symbol KD (key derogatory) on my report. My score is still high, but cant imagine what it would be without that symbol.

billsfan · May 24, 2009

Choptalk, haven't you looked at your credit report in the past two years to know that this was on there?? or were you just suddenly suprised??

In2Win · May 24, 2009

I have the info at home but I am out of town I will get back to this post monday evening and I can get you more info on how I handled this

funtyme007 · May 24, 2009

i am scared to see my creidt score... :>(
I plan on fixing things later this year...

Zip · May 24, 2009

Every 4 months I go to https://www.annualcreditreport.com/cra/index.jsp and request a free credit report from one of the agencies listed. They will give it to you for free. You can also get your fico score from two of them for a fee if you wish. The third one uses an inhouse score which no one follows - don't buy it.

Use a different agency every four months. That way you can check your credit for free - each agency will give one free credit report per year.

If you can't get the lender to remove the negative report - you can post an explanation for the item in the credit report, which might help.

bigtendominator · May 24, 2009

Zip said:
Every 4 months I go to https://www.annualcreditreport.com/cra/index.jsp and request a free credit report from one of the agencies listed. They will give it to you for free. You can also get your fico score from two of them for a fee if you wish. The third one uses an inhouse score which no one follows - don't buy it.

Use a different agency every four months. That way you can check your credit for free - each agency will give one free credit report per year.

If you can't get the lender to remove the negative report - you can post an explanation for the item in the credit report, which might help.

How much do you pay for the fico score?

It is complete BS, when they give you the report for free because nobody understands what the fuck that means without the fico score.

wannabewhale · May 24, 2009

Last time about 3 months ago-I got all three FICOS for $38
Sounds like alot-but once a year + the free credit reports once a year seem CRITICAL in todays world

quantumleap · May 24, 2009

I go to freecreditreport.com. Before buying a major item like a house or vehicle I would suggest you check your credit at ALL 3 credit agencies.

I am in the process of cleaning up my credit report so I can refinance my vehicle. I had an item from a cable company that never contacted me to pay the bill. I got my 3 credit reports and filed a dispute at all 3 agencies. You can do it online. One credit agency has already removed it.

OccamsRazor · May 24, 2009

Is there anything that I can do? No. Keep renting

Is there any justice n this world at all? Yes, if you are willing to pay for it. Find out who has the final say on your loan and slip them $500 or whatever they want, you'll get your loan.

birminghambook · May 24, 2009

I hate HSBC. I truly hate this company. I could give you 1000 reasons why but I will not waste your time.

The truth is though that the fault lies with you. You are responsible to make sure you are 100% paid in full on your debts or make your monthly payments on time. It is HSBC's duty to report you as late whether you owe $15 or $15,000.

All is not lost. This should be a big lesson for you. Follow up on all your debts monthly and get paid in full receipts. Sign up for a credit reporting agency. I have one that I pay around $90 bucks a year or so. Gives me updated FICO scores monthly and lets me know every time I have a balance change, FICO score, etc.

Chalk it up as a lesson and be more responsible in the future.

Did I say how much I hate HSBC?

aceduecetrey · May 25, 2009

OccamsRazor said:
Is there anything that I can do? No. Keep renting

Is there any justice n this world at all? Yes, if you are willing to pay for it. Find out who has the final say on your loan and slip them $500 or whatever they want, you'll get your loan.

You are living in a dream world if you think just giving someone some cash willget you a mortgage. Not anymore anyways.....

That being said, just call HSBC and tell them the scenario and they in all likelyhood correct it for you. might take until the 15th for it to be reflected though, depends on how fast you act on it.

OccamsRazor · May 25, 2009

aceduecetrey said:
You are living in a dream world if you think just giving someone some cash will get you a mortgage. Not anymore anyways.....

That being said, just call HSBC and tell them the scenario and they in all likelyhood correct it for you. might take until the 15th for it to be reflected though, depends on how fast you act on it.

Oh I forgot, along with the money show them the gun.
:laugh:

aceduecetrey · May 25, 2009

OccamsRazor said:
Oh I forgot, along with the money show them the gun.

Now you are talking.........

ParanoidAndroid · May 25, 2009

Seriously?

I know that mortgages are a challenge to get right now, but seriously. If this is the item that's holding up your application, then I suggest you find a new home loan rep or company. NO ONE out there has sterling credit any more and your agent should know exactly how to handle this, if they don't then you need a new agent.

aceduecetrey · May 25, 2009

ParanoidAndroid said:
Seriously?

I know that mortgages are a challenge to get right now, but seriously. If this is the item that's holding up your application, then I suggest you find a new home loan rep or company. NO ONE out there has sterling credit any more and your agent should know exactly how to handle this, if they don't then you need a new agent.

Things have changed dramatically over the last 18 months. When I was doing loans, the bank rep. would actually write the letter of explanation for you to give to your client. I remember a loan I put through Lenders Direct with a 510 middle score and 12 LOE's. Guy was a janitor at a school and stated that he made 150k a yearand bought a 320k home with a 100% ltv. Wonder why they went down........

ParanoidAndroid · May 25, 2009

^^^
No doubt there were a TON of bad paper written and the loans ARE harder. But, I also know money is still out there. I'm a little "in the biz" and know what it takes to close right now. The OP has a relatively minor problem, there are still loans closing with MANY more problems than an old $15 mistake. So either the OP is not telling the whole story or they need to find a new home loan rep