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We had something similar happen to us with our past rent. We paid it about 5 yrs ago & it still shows up on our credit, but as paid. First, did you keep the receipt or get a conformation number if it was paid over the phone? Also you will need to call them & make sure they update your credit report. You may have to try a different loan company if this one still says no. Our loan company has us write a letter explaining the situation & sign & date it. That might help. You can also try one of those credit improver places, but it will take 30 -45 days for them to up your credit score. I would suggest reapplying somewhere else with a written letter in hand & proof that you paid. I hope you get your house!! :)

Source(s)

Personal experience

by Lisa

5 months ago

Asker's Rating: 

I am in the US, but it is getting to the point that banks will use any excuse they can to avoid making mortgage loans. After all, in the US, a bank does not need to make loans to make money, all it has to do is to wait for another 100 billion dollars in taxpayer money for free. If you get billions handed to you every few months for doing nothing, you don't have to work.

by Gorkbark Porkduke Gefunken Fubar- 5 months ago

Just been through this garbage ourselves. We live in NSW and we got knocked back from a PAID credit card debt of over 5 years ago... Sorry to say, the application will be destroyed and he will have to reapply again. But it will be on his credit rating for a while. Even though it will say paid next to it (IF they bother to update it) The bank will see that and more than likely knock him back again Our debt was like I said PAID more than 5 years ago, we can more than afford to pay a mortgage, but because of that, the bank said no. I highly doubt they will overlook it. Because to them, your boyfriend couldnt pay the bill before, so they will think he cant afford to pay the mortgage. We are not going to bother now because of what we found out... But yeah, he will have to reapply... if he wants to, but tell him to keep in mind that it will go against him because of the debt.

by Ali J- 5 months ago

This website should help; au.pfinance.yahoo.com/credit...frequently.asked.questions or get a mortgage broker, they will do their utmost to get a mortgage deal for you.

by Sandi- 5 months ago

I had a similiar incident a few yrs ago I am in the US so I am not sure if it is different there also this was before the whole recession, credit crunch, etc. I had a previous debt on my credit. I had had some furniture financed. The company went out of business soon after and sold all the accounts to someone else. When I received anything from the other co. I threw it away thinking it was a scam (it never said that it was for the furniture store) Anyways, when I went for loan to rewire the electrical system in my house it came up. What my bank had me do is call them set up payment arrangements then provide the bank verification that I had done so. When I provided the information my loan was approved. Another option you might look into would be to go to a credit union if you have those. He could try reapplying and speaking w/ the loan officer and providing a copy of the receipt that the bill was paid. That may help. Good luck.

by psu176- 5 months ago

The problem is you are dealing with one lender only, Get a Mortgage Broker they have access to approx. 50 - 60 different lenders. Chances are they will get you financed without issue. Happy House !

by nature4me- 5 months ago