Reply
Member
Posts: 29
Registered: ‎01-15-2013
0

Re: Dispute success chances?

The lien is the last baddie, yes. I just had the two. I didn't used to monitor closely enough to catch that stuff when it occurred.

 

I always thought that my debt utilization - which was as high as 90 percent - was weighing down my score. But I guess it was the baddies, as well. I knew they were a little bit, but not that much.

 

Still good to lower it, though, I think, for when I go mortgage shopping for DTI purposes.

Epic Contributor
Posts: 20,936
Registered: ‎03-19-2007
0

Re: Dispute success chances?

[ Edited ]

The FCRA, in recognition that anyone can assert that they have no recollection of an account, establishes specific requirements to support such an assertion.

The consumer must put that assertion into a sworn statement before a law enforcement agency, which carries criminal penalities for knowingly false statements.

 

The FCRA then imposes requirements on the CRA to block the information from the consumer's credit report (section 605B) and on the furnisher to provide all business records pertaining to the alleged account (section 609(e)).  Both processes require supplying a copy of the police report as basis for their acceptance.

 

With the form of documentation for such assertions clearly specified in the statute, a dispute that simply contests "account not mine" lacks adequate supporting documentation.  By providing a block of the information from the consumer's credit report, the FCRA essentially treats the matter outside of any dispute process.

The dispute process does not really work for such issues, as the OC can simply verify the accuracy based on their records.  They have no way of knowing if their records resulted from identity theft, and the dispute processes dont require proof in order to verify accuracy.  The FCRA identity theft process of CR blocking addresses that catch-22 dilemma without first having to decide the facts.  The consumer's sworn statement is sufficient.

Highlighted
Established Contributor
Posts: 573
Registered: ‎10-21-2012
0

Re: Dispute success chances?

Are your tax liens federal or state?



Starting Score: TU:584 | EQ 584
Current Score: TU FICO: 711 | EQ FICO 713 | EX (USAA FAKO) 779
Goal Score: 780 across the board


Take the FICO Fitness Challenge
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.