Dispute Info?

[Anonymous]

Hi all,

I am looking to get as much info as i can about disputing items. What is the easiest ways to dispute an item? Can disputing an item actually make things worse? Their are some items that are due to fall off in a couple of months and i was thinking of disputinng them to see if they would fall of early. Not sure what reason to give but is this worth a try and can it backfire on me in anyway? Trying to get my credit report in order and raising my score has now become my new hobby. lol

[MarineVietVet]

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@Anonymous wrote:

Hi all,

I am looking to get as much info as i can about disputing items. What is the easiest ways to dispute an item? Can disputing an item actually make things worse? Their are some items that are due to fall off in a couple of months and i was thinking of disputinng them to see if they would fall of early. Not sure what reason to give but is this worth a try and can it backfire on me in anyway? Trying to get my credit report in order and raising my score has now become my new hobby. lol

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1) Disputing can cause your score to drop. A dispute removes certain aspects on OC TLs per FICO like your balance or CL and that can negatively impact your score if it actually helped your util.

2) Disputing can lead to the early demise of an OC TL. While that may sound good if you have a CO or a TL with a bunch of lates, if that TL was one of your oldest or helped your AAoA, then it's depature can possibly drop your score if the history helped more than the baddie hurt. Also, some OCs will automatically remove the negative aspects at the 7 yr mark and it could have reported as a positive for a while longer.

3) Disputing can lead the OC or CA to report worse than what they were before. If an OC wasn't reporting every late or if the OC/CA had not updated in a while, then they can update their reporting and that can cause your FICO scores to drop.

4) Disputing will almost always lead to increased collection activity if the debt is unpaid, including increased letters, calls, or increased risk of being sued.

5) Disputing makes it harder to get a PFD or GW accepted. I recall calling for a GW for Verizon once and they said that since I disputed an accurate account then they wouldn't grant the GW (though I don't they they'd accept it anyway).

6) Disputing can lead to a fraud alert in some instances if you dispute as "not mine" (I'm sure it depends on the OC/CA).

7) Disputing takes too much time. Sending a GW or calling in a GW if paid or a PFD if unpaid takes a week tops. A dispute can take up to 30-45 days.

8) When disputing, you typically only have one shot before being labeled a "frivolous disputer" by the CRAs (EX in particular).

9) A dispute comment can lead to a mortgage denial. YMMV on the lender.

10) A dispute can lead to a split file (primarily EQ).

[Anonymous]

So maybe just best to leave alone and focus on my new debt?

[MarineVietVet]

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@Anonymous wrote:

So maybe just best to leave alone and focus on my new debt?

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What I listed was worst case scenario but all those thngs could happen.

I would probably wait since they can only report for a few more months but another option is writing to the CRA's and asking for an early exclusion deletion.

I've never done it but if you do a search I'm sure you'll find examples of the technique.

[Anonymous]

If the negatives are due to fall off withing a few months, ask the credit bureaus for an "early exclusion" on the negative accounts. Transunion will usually do an early exclusion 6 months from the 7 year mark. Experian and Equifax will do early exclusion up to 3 months from the 7 year mark. Do some reading on the forums about "early exclusion" and that will help you understand it. Sometimes the rep at the bureau may tell you no, if this happens try again as sometimes it takes several attempts to get it done.

[RobertEG]

Disputes relate to contesting the accuracy of information in your credit file.

Requests for early exclusion are NOT basis for a dispute, they are requests for administrative good will on the part of the CRA.

There is no error until the information has been shown to continue to appear in your credit report after the statutory exclusion date has passed.

A dispure requires that the consumer identify a specific error, and provide adequate information to permit the CRA or furnisher to conduct a resonable investigation of whether or not it is accurate.  Requests for early exclusion do not provide either.