A really busy day! I missed posting yesterday so I am doing it today!
I am in a refinance process for my home. Yesterday, the underwriters were working on my file and before starting the final processing, they asked me to unfreeze my credit with TransFusion. I did and in half an hour, the new documents from the lending company came with a credit score below 700 when I had it above 800 for the last many years. What a shock! I thought they had pulled someone else's credit report!!
They sent me a screenshot of some collection company posting one unpaid bill of $95 (to which they had added interest of $23! Who says we are in the world of low interest rates? LOL, the rates are low on your savings and deposits with the bank, and oh, yah, also on refinance ;) but the rates are still high on pay-day loans and credit card debts which are mostly used by poor or lower middle class. The interest the collection agency charged was for two months so the rate is probably more than 200%!!).
After some checking, I found that there was a bill from my healthcare provider. Actually, after one year, they had sent a bill to me saying that my son had no insurance during one particular visit. He has been fully insured since birth/ We had health insurance at that time so I replied to the provider with the proof of Insurance card with validity dates and also policy info. After that, the provider sent reminders and I ignored them. That was my mistake that I didn't call to follow up on them when they arrived. Then around the Nov-Dec period, when I was paying some copayment amounts on my and my wife's accounts, I inquired about the balance in my son's account. They said there was no due! I assumed they settled with the insurance. Yesterday, I found that they had sold it to some collection agency which then posted it on my credit report. I immediately paid the amount to the collection agency. (I added $2 more in my payment in case if they have some more interest accrued!). Took around 3-4 hours of time on calling the collection agency, the lender, and the credit reporting company. In the end, the lady from the insurance told me that the item was dropped from my account. Not sure how it got dropped but it was pleasing to listen to it.
The most striking timing in this episode was that the credit report posted the item on my credit file yesterday only! The day when I need the report to pull out the score which is 800 plus for the last 15 or so years! One day, few hours, that just robbed me of my afternoon. Still, there is a bit of uncertainty until I hear from the lender that all is well.
Whatever way we plan, live or intend, there are uncertainties in life. They just happen we want them or not, and sometimes, the timing can be so weird it can beat all odds and laws of statistics and probabilities.
Enjoy your weekend.
No comments:
Post a Comment