My wife and I have been planning to buy our first house for a while. We selected a beautiful piece of property that would be big enough for us and 2 of our kids. I applied for a mortgage and was told by my mortgage broker that I have deregulatory information on my credit report from Verizon Wireless. The deregulatory information/delinquency absolutely must be removed in order to buy that house.
So, I called Verizon Wireless and was told that I had close to $1,500 of unpaid charge-off balance since 1999. I pleaded with them and asked them what it would take to remove all the deregulatory/delinquent information from my credit report. They told me if I paid off the whole amount, and my account would reflect the full payment and all the deregulatory information would be removed.
I didn't bargain. I sent them the check for the full amount. Two weeks later I got a letter from them saying that my account is paid in full, but it would still reflect a charge-off, leaving the deregulatory information on the account. I called them back numerous times and reminded them about our agreement, but to no avail. After they got the money, the willingness to talk to me magically disappeared.
I can't get that house now. My wife and I are devastated.
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