11-19-2012 10:31 AM
So before becoming a member of this forum I disputed alot of my collections. Since then now when I pull my credit they say account in dispute. BUT its been 5 months later and I figured it wouldnt say that anymore? Im trying to buy a house but Im not sure if the collections saying that will make the banks a little uneasy. Is it ok for these collections to say that? Or should I call each CA and have them take that statement off?
Thanks for any help!
11-19-2012 12:18 PM
I can just tell you from my experience, I had to have all disputes removed from the CRAs before mortgage approval. And I wasn't even disputing, they just took some of my PFDs and GWs that way. But I did have to scramble around and get everything removed.
11-19-2012 12:33 PM
The CRA is required to make a final determination on a dispute within 30'ish days of receipt.
It should be a normal part of their process, once concluding a dispute, to lift the dispute flag, as the sending of their required Notice of Results of Reinvestigation formally terminates the dispute.
From many, many posts in the forum, it is evident that the CRAs are not complying with that part of the process, leaving dispute flags in place long after their conclusion.
I would call the CRA and request removal. If informal request dont work, a formal dispute of accuracy of that information in your file can be sent to the CRA. But that's a catch-22..... filing a dispute to get a dispute removed!
It's kinda silly..... but important, as the continued presence of the dispute flag removes certain items from your FICO scoring. I would get them removed prior to any loan app., thus giving the potential creditor access to your real score.