Need advice: House foreclosed on but natural/declared disaster claimed on CR.

[Anonymous]

Should I dispute this?  Do you think they will remove the entire line or just edit the reason for the bad debt?

Thank you in advance.

CN

[Jazzzy]

Hi...and welcome.

Your question is about whether to dispute or not...is this information incorrect?

[Anonymous]

Yes that is what I am asking.  The information is incorrect, I was never involved in a natural or declared disaster.  My house was foreclosed on due to personal circumstances.  My TU score is still 708 at the moment so I do not want to jeopardize a decent score.

Thank you

CN

[Jazzzy]

Before you dispute, I don't think there's any way to tell what they might do.

How old is this account? Do you know how close it is to falling off on its own?

Also, is your 708 a FICO score...or is it one of the "credit scores" sold by many vendors?

[Lel]

This is an unusual situation.  The information is clearly inaccurate, but disputing the information and having the foreclosure report correctly will cause your scores to plummet.  This will potentially lead to all sorts of problems with your current and future creditors, so I can understand why you'd be hesitant to correct the data on your credit report.  I don't think you're legally obligated to correct this error.

Regardless of what you choose to do, just remember that if you decide to apply for another home loan, you will be legally required to disclose your prior foreclosure on the loan application, even if it does not appear on your credit report.

[Anonymous]

Yes, 708 is my FICO score.  Well, it's my Transunion score.  Is there a difference?

I would hate to see my credit score plummet.  The account is roughly 2.5 years old.  I may just leave it on there.  I was hoping that by removing the foreclosure it might help my report, but it may also backfire.

Thank you for all the help thus far.

CN

[Anonymous]

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@Anonymous wrote:

Yes, 708 is my FICO score.  Well, it's my Transunion score.  Is there a difference?

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Transunion sells their FICO score as well as another version, an insurance score I think they called it.  You'd have to check to see what you purchased.  If it's a FICO score it should be clearly labeled as such.  If if doesn't specify FICO, it's probably one of their other versions.