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[MarineVietVet]

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@EW800 wrote:

Can I get some opinions on the bullet point below, which was mentioned above...

--  If you have collections, charge offs, inaccurate information on your report DISPUTE DISPUTE DISPUTE

I have a credit card account with Chase that was Settled for Less  Than Full Balance.  It has not even crossed my mind to dispute it, as I figured there was no chance of it coming off (or staying off) and I also do not want to risk doing anything that could possibly make anything worse somehow.  

How do some of you feel about disputing something like this?  Is it good advice?  Is it a risky move?  

Thanks much,  

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What would be the basis of a possible dispute? For information you feel is incorrect then of course the dispute process is a valid approach.

But just having negative items on your report is not a reason to file a dispute.

[Anonymous]

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@MarineVietVet wrote:

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@EW800 wrote:

Can I get some opinions on the bullet point below, which was mentioned above...

--  If you have collections, charge offs, inaccurate information on your report DISPUTE DISPUTE DISPUTE

I have a credit card account with Chase that was Settled for Less  Than Full Balance.  It has not even crossed my mind to dispute it, as I figured there was no chance of it coming off (or staying off) and I also do not want to risk doing anything that could possibly make anything worse somehow.  

How do some of you feel about disputing something like this?  Is it good advice?  Is it a risky move?  

Thanks much,  

---

What would be the basis of a possible dispute? For information you feel is incorrect then of course the dispute process is a valid approach.

But just having negative items on your report is not a reason to file a dispute.

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Well we're talking disputes here. Dispute does not deny ownership of one's account it simply asks a debt collector to provide proper documentation to validate the info you have on me is correct, such as my name, ssn, the amount owed, and more importantly do I really owe this debt to you. That's why it is always good to validate newly discovered collection accounts on your report.It helps both parties understand their obligations and responsibilities. I never said scream FRAUD!!!!

[Anonymous]

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@Anonymous wrote:

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@MarineVietVet wrote:

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@EW800 wrote:

Can I get some opinions on the bullet point below, which was mentioned above...

--  If you have collections, charge offs, inaccurate information on your report DISPUTE DISPUTE DISPUTE

I have a credit card account with Chase that was Settled for Less  Than Full Balance.  It has not even crossed my mind to dispute it, as I figured there was no chance of it coming off (or staying off) and I also do not want to risk doing anything that could possibly make anything worse somehow.  

How do some of you feel about disputing something like this?  Is it good advice?  Is it a risky move?  

Thanks much,  

---

What would be the basis of a possible dispute? For information you feel is incorrect then of course the dispute process is a valid approach.

But just having negative items on your report is not a reason to file a dispute.

---

Well we're talking disputes here. Dispute does not deny ownership of one's account it simply asks a debt collector to provide proper documentation to validate the info you have on me is correct, such as my name, ssn, the amount owed, and more importantly do I really owe this debt to you. That's why it is always good to validate newly discovered collection accounts on your report.It helps both parties understand their obligations and responsibilities. I never said scream FRAUD!!!!

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Thats incorrect. You are describing the Debt Validation process, not the Dispute process. The Dispute process is an assertion that reported information is not correct. The dispute process (CRA Dispute) merely requests the CRA to verify that the information they are reporting, matches the information the CA has for the account. It in no way requires a CA to validate anything.

"Dispute, dispute, dispute" is simply not the wise way to proceed. It may work 'for some people, on some items', but for most it simply gets accurate items updated with a current date - which may in fact, damage scores further.

The proper way to go is Dispute items that ARE INACCURATE. DV CAs, and negotiate PFD's and settlements where appropriate, and GW what remains.

[Anonymous]

Debt Validation is in fact a form of dispute. Again, it does not say you are denying ownership but simply the account is in dispute EVEN with debt validation because if that CA cannot provide proper documentation in the required time frame that account legally must be removed from reports. Even through the CRA the same rules apply

[Anonymous]

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@Anonymous wrote:
Debt Validation is in fact a form of dispute. Again, it does not say you are denying ownership but simply the account is in dispute EVEN with debt validation because if that CA cannot provide proper documentation in the required time frame that account legally must be removed from reports. Even through the CRA the same rules apply

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That is also incorrect. Under FDCPA, Debt Validation has no time frame attached to it - other than the 30 days imposed on the CONSUMER for it to be considered 'timely' by the CA - nor does it require removal of reporting. DV only imposes upon the CA, a 'collection bar' until they have provided Validation. There is not even a legal requirement for the CA to respond *at all* to a DV.

Under Texas state law, there is indeed such requirements, but not under FDCPA. A Texas DV can also be requested at any time, there is no requirement for it to be 'timely'.

Disputes via the CRA falls under FCRA, while Debt Validation falls under FDCPA. 

[Anonymous]

Validation disputes are offered by CRAs

[Imperfectfuture]

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@Anonymous wrote:

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@Anonymous wrote:

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@MarineVietVet wrote:

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@EW800 wrote:

Can I get some opinions on the bullet point below, which was mentioned above...

--  If you have collections, charge offs, inaccurate information on your report DISPUTE DISPUTE DISPUTE

I have a credit card account with Chase that was Settled for Less  Than Full Balance.  It has not even crossed my mind to dispute it, as I figured there was no chance of it coming off (or staying off) and I also do not want to risk doing anything that could possibly make anything worse somehow.  

How do some of you feel about disputing something like this?  Is it good advice?  Is it a risky move?  

Thanks much,  

---

What would be the basis of a possible dispute? For information you feel is incorrect then of course the dispute process is a valid approach.

But just having negative items on your report is not a reason to file a dispute.

---

Well we're talking disputes here. Dispute does not deny ownership of one's account it simply asks a debt collector to provide proper documentation to validate the info you have on me is correct, such as my name, ssn, the amount owed, and more importantly do I really owe this debt to you. That's why it is always good to validate newly discovered collection accounts on your report.It helps both parties understand their obligations and responsibilities. I never said scream FRAUD!!!!

---

Thats incorrect. You are describing the Debt Validation process, not the Dispute process. The Dispute process is an assertion that reported information is not correct. The dispute process (CRA Dispute) merely requests the CRA to verify that the information they are reporting, matches the information the CA has for the account. It in no way requires a CA to validate anything.

"Dispute, dispute, dispute" is simply not the wise way to proceed. It may work 'for some people, on some items', but for most it simply gets accurate items updated with a current date - which may in fact, damage scores further.

The proper way to go is Dispute items that ARE INACCURATE. DV CAs, and negotiate PFD's and settlements where appropriate, and GW what remains.

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Double this by one million.

I made the mistake of disputing because of the way fico interprets nod for scoring.  This updated the account on both eq and ex (I disputed something else on TU, my score actually raised on that one).  60 pt drop when it came back updated.  If the debt is yours, then deal with it.  Those sites indicating dispute, dispute (and some ebooks) are wrong, and can get you flagged for frivolous disputing.

DV needs to go to the debt collector, not the CRA.

[leahslavi]

Thank you soooo much for posting this without the abbreviations, lol. I tend to get a little lost. 

[Anonymous]

Thank you this was a great thread i just got a 500 cl secure card with my local CU. I was also considering doing the CreditBuilders Loan that they offer i wasnt quite sure how that worked but i was planning to talk to them about it. thank you again.

[Anonymous]

Great job breaking it down for beginners . The only thing that's debatable is the SCT . I personally tell people not to get more than one no matter what .