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What is "account updated from processing of your dispute" on a CR collection?

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Anonymous
Not applicable

What is "account updated from processing of your dispute" on a CR collection?

Hi,

 

I have been reading through the forums and I stumbled upon some threads and I have been trying to find an answer for my situation. I will be applying for an FHA mortgage soon and I have been reading that I cannot  On my CRs, I have some paid student loan collections that are showing a $0 and a "paid collection" status but the notes in them say "Account updated from processing of your dispute in MM/YYYY" I disputed the items because they were still reporting as "unpaid" and had a balance on them after I had paid them all off in full. The disputes corrected the reporting of all the items. It doesn't seem to indicate a current dispute but a dispute that I had that was resolved and they changed the account. do I need to get that removed from all the items somehow to be eligible for a mortgage?

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2 REPLIES 2
Revelate
Moderator Emeritus

Re: What is "account updated from processing of your dispute" on a CR collection?

Get dispute remarks removed.  Not a hard thing to do at least.

 

http://ficoforums.myfico.com/t5/Mortgage-Loans/Best-Way-to-Remove-quot-Account-In-Dispute-quot-for-M...




        
Message 2 of 3
Anonymous
Not applicable

Re: What is "account updated from processing of your dispute" on a CR collection?

I was actually thinking of disputing them all again. They all have a DoFD of 1/2009 which means they should fall off in January 2016. They all have a zero balance and show as paid collections so I was hoping maybe the collection agency would not be interested in them since they are already paid off,they will come off naturally in about 10 months and maybe would not respond? I have a old statment that shows the first missed payment in 06/2008. I know that isnt necessarily DoFD but I thought it may help convince them my DOFD was acutally early than shown and they would just delete them. I am just trying to make sure my credit looks its best for when I actually apply. I don't plan on applying until June (I want to move September 1st). So if they all stayed on my CR, I figure I would have time to call them all and get any dispute remarks removed then. Is that a good idea or should I just leave well enough alone and get the original dispute marks removed? Thanks for any responses!  

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