Newbie like question about disputing a collection and charge off and possible re-aging

[TheMarg]

I have a newbie like question. I have a charge off and a collection that are showing on all three of my credit reports. The collection is set to fall off in November of this year and the charge off is set to fall off in February of 2013. If I dispute these with the credit bureaus and they come back verified, will it possibly cause the accounts to be re-aged? Also, even if they can't be re-aged, would disputing and them coming back verified cause any damage to my FICO? Thanks for your help.

[pizzadude]

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@TheMarg wrote:

I have a newbie like question. I have a charge off and a collection that are showing on all three of my credit reports. The collection is set to fall off in November of this year and the charge off is set to fall off in February of 2013. If I dispute these with the credit bureaus and they come back verified, will it possibly cause the accounts to be re-aged? Also, even if they can't be re-aged, would disputing and them coming back verified cause any damage to my FICO? Thanks for your help.

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Accounts cannot be re~aged ~ at least legally.   The credit reporting time period ( CRTP ) clock starts at the DOFD for the account, and the OC and collection tradelines on your reports would fall off at 7.5 years from DOFD, since it was charged off.

Disputing won't change the DOFD.   The accounts would be removed from FICO scoring while in dispute, then assuming they are verified, they would be added back, and your score would revert back to where it was previously.  

[LIGHTNIN]

Hi TheMarg,

I would suggest sending  G W letters, to the OC and the CA, asking if they  would kindly delete early.

[pizzadude]

GW letters are certainly a good idea ~ and let me add a caveat to my previous post - sometimes when items are disputed creditors make updates to the account or collection item in question, which can lead to unpredictable FICO scoring results, as the TL might be viewed as a more recent derogatory item.     

[RobertEG]

+1

Disputing requires the creditor/debt collector to conduct an investigation within set period.  It costs them time and money.

A consumer bears the initial burden in a dispute to assert some actual inaccuracy in credit reporting.  When a dispute does not do so, it is as much a misuse of the system as abuses conducted by "the other side." 

If the consumer later makes some "good-will" request from the furnisher, the filing of a frivolous prior dispute is not apt to foster an atmosphere of good will.

[fused]

Moving this thread to the rebuilding forum.