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Sherman Acquisition
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Posted by fishers1
(192.77.198.12) on May 30, 2003 at 14:17:10:
I just had my credit pulled by my mortgage banker, and found out that my credit score has dropped 80 points since October 2002. Upon combing through the credit report, I noticed Sherman Acquisitions listed as a $98 debt. I called them and they said it was a Sprint long distance calling card account opened in 1993! They had a previous address of mine when I was in college, but have not heard a thing about this account - EVER! When I moved from the address that they mentioned, I had all of my mail forwarded, and therefore should have received correspondence if this was a legitimate account. I called Sprint, and they have no record of me having an account with them. I'm at a loss of what to do! I've called all 3 credit reporting agencies and have filed a dispute with each of them, but have to wait 30 days for the result. By then I may miss the great refinancing rates, because my credit score is now below 620, and my refinace won't be approved with that low of a score. We figured it out, and if I were to refinance with the current rate that is offered to me, I would save $100 a month on my mortgage. Over the life of the mortgage, with interest, it would equate to $72,000! Sherman Acquisition has cost me AT LEAST that much! Not counting what I could make if I were to invest that money elsewhere! I am located in Connecticut. If anyone has further suggestions of what to do, please, please reply! By the way, the only thing that had changed on my CR since October was the addition of the Sherman Acquisition collection. Everything else had stayed the same or amounts owed had decreased.
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