If it is a year old then it is already on your credit report.
BTW, how come you have not checked your report already? Do it for free at www.annualcreditreport.com.
You need to pay that money. You owe it, and the underwriters will likely not approve you with an open collection account.
The debt is yours, you know it is yours, acknowledging changes nothing.
It is on there. But can it get more current? Can it effect the closing?? Shift my credit points?
it would have already been on your credit report
I am in the process of buying a home but it has been a never-ending roller coaster. I am still waiting to hear if my "conditions" have been cleared. Supposedly the conditions had nothing to do with me...it was a few things my broker had typos on and had to clear up. I am Supposed to close next week after being pushed back 3 weeks already. Waiting on that C 2 C.
SO, there has been a collection account on my record since I began this process. It is for $900 dollars, a surgery I had a year back and I completely forgot that I had a deductible... the reason it slipped my mind so easily is because I was never notified by the medical office, I didnt get a call or letters or emails, nothing... then when my LO pulls my credit I had to give an explanation for this...and I did just that.
THIS MORNING I got a call from the credit bureau agency.... FIRST TIME EVER. I told them I am aware and will pay it within the next few weeks (which I will, but my LO said dont pay it right now it may eff up the credit so wait and see if they instruct you to pay it).
HOWEVER, I DIDNT EVEN THINK... CAN SPEAKING WITH THEM AND ACKNOWLEDGING THE DEBT MAKE ME NOT GET THE HOUSE??? CAN IT MESS WITH MY CREDIT MORE? MAKE IT MORE 'CURRENT' EVEN THOUGH IT IS ONLY A YEAR OLD?
PLEASE HELP.
SINCERELY,
-FREAKING OUT.
