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Item Disputed By Consumer

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haulingthescoreup
Moderator Emerita

Re: Item Disputed By Consumer

The J.Crew account is no longer in dispute, because they finally grasped that when someone pays off a balance, they really need to update to the bureaus. So I can't copy/ paste anything.

 

But both times that it was in dispute, it showed as such on all three reports, and it was absolutely included in scoring. The balance was listed in total balances, and the lates were listed as negative factors. The Sears non-dispute still shows as in dispute, and it is not included in scoring. Neither EQ nor TU say that I have a three-year-old late, even though the late still shows on the accounts page.

 

I understand that your experience has led you to believe that all disputed accounts are ignored for FICO scoring, but my experience, and other posts I've read in the past, and what I was told by the myFICO admin (who ought to know), leads me to believe otherwise. Smiley Happy

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 11 of 13
RobertEG
Legendary Contributor

Re: Item Disputed By Consumer

From my experience, I agree with the position taken by hauling.  The very fact that the CA is still showing in your CR, along with the status statement, is pretty clear indication that it is still being used in credit scoring, even though reported as under dispute.

 

I would suspect that the problem is lack of proper updating of "field code 20" in your credit file, which records your current "Compliance condition code."

That is what is used as the basis for any determination of how FICO will score the account, regardless of whether you subscribe to the hauling or S0Cal versions.

 

When you file a dispute, then the creditor/CA should update the status under field 20 to report code "XB" (account under consumer dispute under the FCRA) in their next reportiing to the CRA. 

That code remains until it is later updated.  When the dispute is resolved, the creditor/CA should update this code to "XC", which desginates the dispute as having been resolved.  It appears that the CA did not update the status code to "XC."

I dont see this is as having any current affect on your scoring. 

 

 

Message 12 of 13
AndySoCal
Valued Contributor

Re: Item Disputed By Consumer

Interesting. I am doing some furthur research.

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Message 13 of 13
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