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New Contributor
cbjn1103
Posts: 144
Registered: ‎06-01-2007

Re: Help!!!!!!!! My score dropped 24 points for disputing

Thanks, myhearts07.
You have been a big help by letting me know that this has happened to you as well. Not that I am glad that it happened to you. But it relieves me to know that this is common practice. However, it shouldn't be common practice. I don't think it should effect a person's score either way, regardless of wheter the dispute is valid or invalid until the investigation is verified. If the dispute is verified to be valid, and it is fixed appropriately then it should increase your score, if it is verified as invalid/or reported correctly, then your score should remain the same.
 
I think what midnightvoice said makes a lot of sense. It could be that they are not including the accounts while while in dispute in my scoring. If I lost JC Penny positive report, I would most likely lose a lot of points. It is one of my oldest credit reporting histories and has a big positive effect I am sure in my score. But on the other hand......Crap One, if it isn't included in my credit score at this time then it would most likely increase my score. But on the other hand, Crap One is a old account and has less impact on my score than if it were new.
 
I am going to keep my fingers crossed that maybe what midnightvoice said is the way it works, and once it is investigated and settled then maybe I will get those 24 points back.
New Contributor
cbjn1103
Posts: 144
Registered: ‎06-01-2007

Re: Help!!!!!!!! My score dropped 24 points for disputing

Thanks Tuscani, I knew I could count on you to jump in here.
 
The Crap One is a collection.
 
The JC Penny is not a collection. It has a great positive impact on my score.
Valued Contributor
TheNewWorldMan
Posts: 2,374
Registered: ‎03-15-2007

Re: Help!!!!!!!! My score dropped 24 points for disputing

I would wait for the results of the dispute to be final. As others have pointed out, disputes can do weird things with your scores while they are in progress.
- - - -
in a credit-scoring postnuclear Stone Age...
Regular Contributor
Zen
Posts: 123
Registered: ‎06-04-2007

Re: Help!!!!!!!! My score dropped 24 points for disputing

I'm not surprised. It's one of the credit secrets that lenders and credit card companies fail to tell you....and yes, even FICO.
 
If you dispute an account, particularly an old account, it WILL drop your score. It can take months for you to recover.
 
I went to one of those vulture mortgage lenders early last year at Wells Fargo who told me first that he just wanted to get me into a home...and to make myself look  better to the underwriters, to just "dispute everything on my credit report" in hopes that the inaccurate information would just drop off. It didn't. Instead, my score fell 28 points, putting me out of range for a mortgage that wasn't 10 percent interest with three points. At that point, he didn't want to work with me any more....So now I'm renting.
Personally, I wanted that WF lender hogtied and placed on a C-17 over Baghdad....and pushed out into enemy territory. Then perhaps he would have known somewhat about how I felt about not only his bad advice, but his abandoning me after it just made things worse.
 
Get a lawyer and dispute directly with the company....not the credit agencies, unless you just want to spend the next year getting back on track.
ZenYoga
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007

Re: Help!!!!!!!! My score dropped 24 points for disputing

[ Edited ]
Disputing supposedly won't cause your FICOs to drop. Now that we've got that outta the way.
 
I know from experience that disputed items might cause your FICOs to change. I disputed an adverse TL, and my EQ FICO climbed. When it came back verified, my EQ FICO drop. Talked to others who've experienced the same thing.
 
Anything reporting inaccurately should be disputed as inaccurate. If it's showing BK7, but you filed BK13, dispute it.
 
 
MyFairCredit BK forum has a number of good reads on BK and credit reporting. Those guys are mostly lawyers posting, and they really seem to know the caselaw and statutes.


Message Edited by Noah_Bodie on 07-05-2007 11:42 AM
Established Contributor
myhearts07
Posts: 858
Registered: ‎06-26-2007

Re: Help!!!!!!!! My score dropped 24 points for disputing

Noah,
 
You are correct about my fair credit.  I have gotten a lot of info from them.  I even received an email with direction on what to do about my BK& Judgment situation.  Since I was in BK protection, the automatic stay was violated when they filed that judgment against me.  So I need to file a motion to vacate the judgment.
 
I also had a lender drop me just recently because of my scores dropping due to disputes.  If it takes months to get my score back up and I am screwed!!! I will have to get a second job just to pay the mortgage on my home or try to put it on the market .....  D**n fico scores.
 
 
Trying to do right.
New Contributor
cbjn1103
Posts: 144
Registered: ‎06-01-2007

Re: Help!!!!!!!! My score dropped 24 points for disputing

Thanks everyone for your advice. I am going to wait until the disputes are finished to see what happens. Hopefully I will get my 24 points back, but I don't look for that to happen. I figure I will get half of those points back. Fico Scoreing system doesn't seem to work in the consumers favor.
 
I will update this post when I get the dispute results back.
Established Contributor
beach123
Posts: 570
Registered: ‎05-02-2007

Re: Help!!!!!!!! My score dropped 24 points for disputing

HELP on this whole thing then...my score blows period on EQ & EX and it shows right on the CRs that I (consumer) disputed an account reporting TWICE - so it appears I owe double the debt (this is the one I"m fighting); anyway, is it the fact that I dispute or are they really counting the double debt?
 
Thanks!

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