Friday, October 27, 2006

Home refinance paid 30 days late by new mortgage lender.

I am having a problem with my credit report, and the dealings with a certain creditor. It is my hope that you can help. Here is my story.

The first part of August this year, I was finishing the refinancing of my home through another bank. The current mortgage was through HSBC. Toward the end of my refinance, I telephoned HSBC to make them aware that the refinance was about complete, and they will receive payment in full soon after. I also made known to HSBC that the money from the refinance will most likely be in their hands AFTER the 30 day mark, and I asked if they please do not report me as delinquent. The Customer Service Representative from HSBC told me that since the loan would be paid off, the fact that it will be after 30 days it will not show up on my credit report as being late, since the loan would be paid off in full. The refinance was completed, and HSBC was paid off. Unfortunately, it showed up on my credit report as being 30 days past due. I contacted HSBC directly to have them address this situation, and I asked them to please remove the negative item on my credit report. They were very nasty to deal with, and I was told that the item would not be removed from my credit report, and will remain there for 7 years. I then explained to HSBC what their Customer Service Representative told me, and I was told that they do not remove anything from credit reports. I was basically called a liar.
I then disputed all 3 credit reporting agencies to no avail. I have since taken this a few steps further. I contacted the Ohio Attorney General, The Florida Attorney General, The Illinois Attorney General, and The BBB asking for assitance in getting this matter resolved. I was basically called a liar by HSBC, and I will not stand for it.

My question is, am I doing this the right way? and if not, what do you suggest that I do to get this information removed from my credit report?? I had "PERFECT" credit, but it is now ruined by the lie that was told to me by HSBC.
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I had the same thing happen to me on a re fi.
Turns out the ONE 30 day late mark had no "real" net effect after about 6 months.
Sounds to me like you done eveything one can do. I would let it go.

One thing you can do is write a 50 word max statement and send to the bureaus. Have it attached to your credit report as explanation. It will not help your score but will help potential creditors read your report.

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