In preparating to request a home mortgage, I pulled my credit report today only to find an account reported by RJM Acquisitions Funding/Fingerhut in collections. Although I have never had an account with Fingerhut, an account--reportedly opened in August of 2002--was reported with a deliquent balance of $194. This has significantly lowered my credit report to the point that unless I wait to get a mortgage until this is cleared off my report, it will cost me tens of thousands of dollars more (if not more) over the life of my loan. Or I may not qualify at all...All of this because of some ERROR...just a pure lack of due diligence on the part of RJM.
I disputed it with the credit reporting agencies and will be calling RJM Acquisitions EVERYDAY until removed from my report. From my experience, regardless if removed or not, it will require many tireless hours of research, calling, follow-up, calling, and more research over many months to get this removed. This alone will delay me getting into a new home at the right price/rate (which I desperately need with a new baby on the way). The credit reporting agencies will not even be getting back with me for 30 DAYS!
Even when this error is removed, RJM should be punished for causing all of this to me and to you. If many of you are like me, I was totally shocked to see a deliquent account on my report and more surprised when I had not even been notified (not sent a bill, not notified of a past due balance...nothing) of such deliquency. It is pretty sad when the report (credit) that matters so much to most american's--basically making or breaking their dreams for a home or car--can have so many errors, effect so many people, take so long to resolve, and the companies like RJM Acquisitions Funding go scott free with not penalities.
From my research, RJM should be make to remove all deliquency reports from accounts in August 2002 until the balances can be justly verified.