Positive account removed during dispute process

[Anonymous]

Equifax started my dispute investigation a few days ago. Today I looked at credit karma ( not for scores I know those are FAKO)and it stated that my 11 year old mortgage account had been removed ( not deleted) . My FAKO dropped 15 points.Comments do state consumer disputes reinvestigation in progress....I was only disputing the five 30 day lates from a few years ago. Is this common to have a whole account removed? It’s still active and open, I still have this mortgage so my guess is once the investigation results are mailed to me it will reappear but hopefully with the lates gone.

[909]

I’m curious why you’re disputing the 30 day lates? If they’re real and the lates don’t disappear then you’ll likely still have the lates plus your dispute on your report. Its unlikely you’ll get approved for another mortgage with any disputes on your report. Also, a dispute removes the acct from some score considerations so it could have a positive or negative impact on your scores.

[Anonymous]

I never said I was applying for a new mortgage I do not care about the dispute comments. My question is about this 11 year old account being restored since it affects the AAOA. I am disputing the 30 day lates for the same reason most people do to improve my score!

[Anonymous]

Also my understanding is if I were to apply for a new mortgage anyways it won’t cause a loan denial but it will slow down the process a bit. There are ways to remove dispute comments. But again that was not my original concern but I just wanted to clarify for others who might be new to this and buying a home.Thnx

[Anonymous]

If you dispute an account there is always the possibility it will be removed if the creditor does not respond within the time frame. That is how disputes work.

[Anonymous]

To correct your above thinking, you only dispute things that are incorrect and should not be on your file. For things that are correct, such as what I am understanding your 30 days lates are, you write a good will letter to the creditor reporting and ask them nicely to remove them from your report. Since you said they were several years old, if you hadn't had any lates or other issues with the mortgage, they most likely would have removed them for you. Now that you have incorrectly disputed something correct, you have most likely burned that bridge, the lates will remain, the comments will as well and they now look worse. Plus, 30 day lates decrease in their score hit rapidly after 12 months with them no longer in play after 24 months. So essentially, you made an oops that had you either asked or read the forum would have realized. I have also read of a couple of people on here who disputed and did lose the line of credit. It continued forward but they lost all previous positive history on the account which hurt in varying levels depending on the weight that particular account held for them personally.

Hope it works out well for you.

[Anonymous]

Gingerbrew ... speaking based on my own YMMV experiences with disputes, I found that some of my positive reporting disappeared for reasons unknown to me. Since I had enough I let it go as I did not want to "poke the pig" (note each credit bureau and report is unique). As to positive reporting, the rule of thumb is around ten years and things start to fall off the credit reports (note not always). This is one of the arguments for keeping open one credit card to maintain positive reporting beyond when other reports may drop off. Loosing long term positive reports may affect one's score so it is a game!