VA Mortgage Credit Cleanup

I am trying to clean some stuff off of credit report for VA home loan.  I looked at sheet from transunion which loan officer requested we pay off to get a loan with them.  Problem is that some of the entries have no name to whom we should pay to get the balance to zero.  Also there are a couple still there that were on a previous bankrupcy.  Any way we might need some help to get information so we can deal with them to pay them off.

Stevan

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Hello Stevan,

It sounds like another case of loan officer bad advice.  Whether or not you obtain a VA mortgage after paying the collections remains to be seen; one thing you should expect, however, is a lower credit score after paying the collections.  That’s why I say mortgage broker bad advice.  Let me offer some better advice.

First, the bankruptcy items can be cured through a rapid rescore. 

Second, the items that have ‘no name’ may be medical collections that limit reporting to subscribers per FACTA. 

You can obtain your own report through annualcreditreport.com or the like to determine the identity of the furnisher.  If they are valid then contact them and get a written pay for delete.  If they are not valid, then contact the bureau by phone and request an Expedited Dispute Resolution because you have a pending mortgage application.

Thanks for the questions and hope this helps.

Paul