Credit Bureau - US Credit Report & Debt Records

Does anyone know if Wells Fargo still ignores HROK, or am I just imagining things?

Bank of America is the only one ignoring HROK... honestly, I have no idea how much longer they can keep this up, especially since everyone else is already on board with HROK, which you can clearly see right on their website.

So, I just got my loan approved over at Wells Fargo. Here’s the kicker: even though they’re part of HROK, they don't actually bother checking anyone's data through them, and they won't cough up any of their own info either (they’ve even got an asterisk next to their name on the HROK website). Basically, they aren't using HROK at all when they're greenlighting loans. Just figured I'd drop that knowledge here in case it helps anyone else out.

They don't even bother looking at the HROK if the amount is under 65 dollars $23. Once you cross that threshold, they start getting picky—they'll demand that the client brings in an official HROK report requested "on their own accord."

I’m wondering—once those two years are up, do they just wipe the slate clean, or do we stay stuck on that closed blacklist forever?
How does the whole process actually work?

So, you didn't get an answer there?
Look, records get wiped three years after you settle the debt, but honestly, your HROK report matters way more than some generic "blacklist." Once you've cleared what you owe, you shouldn't be losing sleep over whether you're on a list or not...

Richard Wright said:So, you didn't get an answer there?
Look, records get wiped three years after you settle the debt, but honestly, your HROK report matters way more than some generic "blacklist." Once you've cleared what you owe, you shouldn't be losing sleep over whether you're on a list or not...

Do you think I track everything? I thought it was two years. I went back to check that thread just now—I’m forgetful, but even there, nobody ever replied. Isn't the deletion supposed to happen after two years?

The debt is settled; it’s been nearly a year. I don't get why they didn't close it out immediately. It took months. Total incompetence.

It's frustrating. I've had an account at my bank for over a year. My salary is about $4,500, yet they won't let me go into overdraft, even though they'll give me a Mastercard.
What's the point? If they won't allow a small overdraft, who's to say I'll actually qualify for a loan if something serious comes up?

I am currently looking into securing a loan backed by my home savings account—specifically for $15,000—and I must admit, this is my first encounter with HROK. My average monthly income sits at $1867. Currently, I am managing an existing loan $8333 with a monthly payment of $213. Additionally, I have a balance on my Mastercard totaling $2667, which I repay at a rate of 5% each month, and I am also dealing with a bank account overdraft of approximately $1667. Given this combination of obligations, I find myself somewhat anxious about how lenders actually calculate creditworthiness. Has anyone here had any direct experience dealing with HROK? Specifically, does a Mastercard balance factor into the calculation of one's debt-to-income ratio, and if so, what is the standard formula they use?

Hey, does anyone know what it actually means when a bank asks for an exception regarding a loan?
So, I’m trying to get a $21,000 unsecured loan through Bank of America, but they just told me that HROK is being difficult because of some old debt I had with Amex—which, for the record, has been fully paid off. I do occasionally run a bit into the red on my checking account, sometimes dipping past the limit toward the end of the month, but I always settle it up within three or four days. I guess I'm wondering what you all think my chances are of getting this approved? My average monthly pay is about $1867, and the monthly payment should be around $667. I don't have any other loans, credit cards, or anything like that. The only thing really weighing on me is that they mentioned needing to file some kind of exception now.

Sam Davis4 said:Hey, does anyone know what it actually means when a bank asks for an exception regarding a loan?
So, I’m trying to get a $21,000 unsecured loan through Bank of America, but they just told me that HROK is being difficult because of some old debt I had with Amex—which, for the record, has been fully paid off. I do occasionally run a bit into the red on my checking account, sometimes dipping past the limit toward the end of the month, but I always settle it up within three or four days. I guess I'm wondering what you all think my chances are of getting this approved? My average monthly pay is about $1867, and the monthly payment should be around $667. I don't have any other loans, credit cards, or anything like that. The only thing really weighing on me is that they mentioned needing to file some kind of exception now.

I'd suggest asking Amex in writing for proof that you settled your balance; I had to do that once before and it helped.

An exception basically means someone had to manually override it because something tripped an alarm—probably that outstanding debt you owed to unknown.

My personal banker just let me know she received the confirmation and is sending the request off for processing, though she mentioned I might still need a co-signer, even though I already set up a life insurance policy to cover the loan.

And honestly, you can never really tell with those guys. If they come asking for one of your organs, you might just want to be ready to hand it over... good luck.

It feels like they're just pushing everything toward getting us to sign up for more credit. xD I guess anyone else here dealt with this kind of stuff before?

If you need anything at all, just ask.

You guys actually ended up helping me out... I'll let you know how things play out. They told me they should have an answer by tomorrow or the day after regarding what the credit board decided.

Just wanted to say thanks for all the advice; my loan finally went through.

Sam Davis4 said:Just wanted to say thanks for all the advice; my loan finally went through.

Well, congrats, I guess. Just don't forget you actually have to pay it back. 😁

Yeah, I get what you mean... but I guess that won't really be an issue.

I’m bringing this topic back up, but I really need some quick advice here...
The situation is that someone from Microsoft is asking me to co-sign a loan for them—monthly payments would be roughly $667—while my own mortgage payment sits right around $667. My take-home pay is about $1933, and quite frankly, I want to be absolutely certain that I CANNOT act as a guarantor; I have zero intention of getting dragged into a financial mess like this...

I hope I’m reading this correctly and that it's actually impossible for me to qualify as a co-signer, though I realize her bank could easily run a credit check on me if I were to provide my Social Security number (which she already asked for🙄, though I haven't handed anything over yet until I'm positive about my own credit standing...)

Anyone have thoughts?