26

Hold on ! Whoa Nellie ! This is a biggie !

The lender might really have only one question if you don't have a credit file with the bureaus :

Who are you ?

Don't give up yet !

Maybe you can do something about it !

Can you start a file by asking the credit reporting agencies to add accounts to your file ?

Yes !


Your credit file may not reflect all of your credit accounts.

Most department store and bank credit card accounts can be included in your file, and not all creditors supply information to credit reporting agencies.

Among those that don't report are entertainment groups, travel, local retailers, credit unions and gas card companies.

If you've been told you were denied credit because of an "insufficient credit file" or "no credit file" and you have accounts with creditors that don't appear in your credit file, ask the credit reporting agency to add information about these accounts.

Best wishes !

Any thoughts ?

 

Next: Unable to Verify the Income As Stated On the Loan Documents

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David Saks

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The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

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