Does this hurt scores?

[sunrise]

When disputing incorrect items on your credit report and they update (verify) the info, does this hurt your scores?  I sent a few disputes last month, one was deleted, one was updated and one was verified.  My scores dropped.  Now my reports are showing "reported date" 2/2008.  Is this re-aging?

They were all baddies.  I am just trying to figure out why my score would drop when I had a medical collection dropped a negative acct. turned positive and a credit card w/ an old 30 day, verified.  All I can think is that maybe the "reported date" made it a current negative.  It was late back in 2003.

What do you all think? 

[George2037]

Same thing happened to me.  I was denied AMEX for having a judgement outstanding (it was piad off it 2004 but lawyer never sent satisfaction letter).  When I contacted saud lawyer they sent in the satisfaction letter but the public record was updated and my score dropped 30 points. 

AFNI was updating a collection weekly until I DV'd (that stopped everything) and that was keeping my scores in the low 600's.

It took about 3 months for them to stop effecting score so much, now I'm in the high 600's.

[Anonymous]

I'm still a newbie, however as far as I can tell...

Report Date doesn't matter.

They (CAs)will sometimes report every month to update reports..but the date that matters is the Date of Last Activity or the Date of First Deliquency.

I disputed items at the start of FEB and my score dropped 18 points...I don't understand why either...

hopefully someone has some insight into this.

[George2037]

Reporting date does matter when calculating scores. 

DOFD or DOLA only effects fall off date. 

If a CA is updated today it will effect your score negatively (paid, unpaid, disputed, anything), if it hasn't updated for a few months it won't have as much effect.

[Anonymous]

Yeah, it's weird how prior to my dispute ltrs to the CAs last week how come of the CAs hadn't reported in AGES (some in yrs) but when I printed my Feb CR it showed some of them updated.

I'm wondering now if it hadn't been for two deletions if my score would have improved/decreased because of it.

SerenityBound...indeed!

[PayYouNever]

This is the old "let sleeping dogs lie" issue, where when you DV an account that's over 2.5 years old and it gets verified the "new" negative information reports... and therefore brings your score down. It basically has to do with the age of a negative account, in which FICO puts less wait on a 2.5+ degrog account as it's not recent.

I think that your FICO score is weighted toward the most recent 30 months of reporting, this doesn't include public records like a tax lien or a judgment as those just continue to bone you until they're paid and marked correctly in your file.

[Anonymous]

Sorry all!

PC went all schitzo on me!

I was asking PayYou, with that being said (what you posted about sleeping dogs), do you recommend still DVn a CA after the CRAs dispute?

SerenityBound....indeed!

[Anonymous]

Every time that you dispute and the OC verifies  it updates the account and yes it hurts.

For old late payments send a GW letter to the address on your CR....don't dispute......GW do not update the account.

When they up date it shows as....report date   this is legal!

[Junejer]

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@sunrise wrote:

When disputing incorrect items on your credit report and they update (verify) the info, does this hurt your scores?  I sent a few disputes last month, one was deleted, one was updated and one was verified.  My scores dropped.  Now my reports are showing "reported date" 2/2008.  Is this re-aging?

They were all baddies.  I am just trying to figure out why my score would drop when I had a medical collection dropped a negative acct. turned positive and a credit card w/ an old 30 day, verified.  All I can think is that maybe the "reported date" made it a current negative.  It was late back in 2003.

What do you all think? 

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Yup Sunrise, that's what happened. That's why the dispute process is so unstable. You could wind up doing more harm to your score than good. However, during an AR, you are looking good, b/c the collection is gone.

[George2037]

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SerenityBound wrote:

Sorry all!

PC went all schitzo on me!

I was asking PayYou, with that being said (what you posted about sleeping dogs), do you recommend still DVn a CA after the CRAs dispute?

SerenityBound....indeed!

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I know you wern't asking me, but if you've already disputed I would send a DV and wait until you've recieved the Green card back.  Once you have it send the CRA a MOV letter or request a re-investigation (although the MOV will get a better result).

Once the CRA has done the dispute the TL is already updated so going with the risk of having the update hurting your score is less (because it has just been done).  If it's been a while (6 months or more) since last update I would let sleeping dogs lay and only address it if they start updateing.