@vonn36 wrote:
On the 10th I disputed a CA with traunsunion and equifax (wasn't on experian) because the DOLP was 06/2005. Transunion deleted it on the 13th and equifax validated it (have disputed again). This CA added 45 late payments to my CR, I have also sent GW for a 60 day late payment in 2006, my most recent late, and have paid another CA. My first questions are when should I see a change in my FICO score, any guess how much and will it show on myFICO and/or Credco immediately. Second question; my lender pulled my scores from Credco on 12th: TU FICO classic 04-563, EF Beacon 5.0-578 and XP FICO II-638 which were way off from all the numbers I had. on the 14th myFICO EF is 640, creditseseme XP 632, freecreditreport.com XP 572(I know this is usually off but just wanted to see), TU (from the website vantage I guess) 654. Shouldn't the EF numbers be closer? I know TU varies alot because of the different ranges, but I am trying for an FHA loan so I just need the median at 620 with Credco. All currents debts are paid on time and length of history is 14 yrs(I was 17). Any suggestions?
Welcome to the forums!
I'd suggest reading the following:
Common Abbreviations
Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.
What Steps Do I Take - great for learning the repair process.
and Example letters - PFDs, GWs, DVs, etc.
Your FICO is a snapshot in time. So, if you or your lender pulled a FICO score today, then that's what it is today. In other words, on the 12th, your scores were as stated. On the 14th, it was different.
Ignore the scores from creditsesame, freecreditreport, and transunion.com. None of them are FICOs.
The EQ FICO on here is the same EQ FICO used by your lender (Beacon 5.0). Looks like it increased from 578 to 640 in those 2 days. If you are disputing items, know that this can impact your FICO score and can artificially inflate or deflate your scores. YMMV on what was disputed. FICO will ignore certain aspects of OC TLs only. These include the balance, the CL, and the payment history. So, it's easy to see a temporary increase or decrease when a dispute is initiated. Because of this, your FHA-based lender will very likely require you to have 100% of the disputes cleared up before it hits underwriting approval. Once cleared, there is a chance for a score drop depending on whether that 70-point gain was due to a dispute.
Per FICO scoring, paying a collection won't improve your FICO. If the collection was a charged-off CC, then there's a chance for a gain if the old CC factored into CC util and that util was hurting you. If a CA added lates it probably didn't do anything to your FICO, though can impact it if the TL hadn't updated in a long time. The 60-day late probably isn't hurting at this point if from 2006.
