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New Member
Posts: 4
Registered: ‎09-16-2013
0

OC changed reporting

Ok, I did a CRA dispute for several accounts.  Capitol one went in and changed their reporting while it is being investigated.  How can they do that?

 

Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0

Re: OC changed reporting

Can you be more specific as to what was changed?  Did it have anything to do with the dispute?

New Member
Posts: 4
Registered: ‎09-16-2013
0

Re: OC changed reporting

I disputed with equifax who is still investigating as well as disputed with capital one because I paid in full before this was charged off, 2 weeks later it was charged off/paid

 

my score went from 610 to 580 I was doing so good fixing my credit!! 

 

was:

Consumer disputes - reinvestigation in process
Consumer disputes this account information
Charge off account
Account closed by credit grantor

now:

Consumer disputes - reinvestigation in process
Charge off account
Account closed by credit grantor

 

 

Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0

Re: OC changed reporting

Those comments are from the CRA not Cap 1.

 

The probable reason for the score drop is when an OC account is disputed certain aspects of the account are removed from scoring.  It can lower your score.  Depending on the outcome of the dispute, your score will go back to pre-dispute or could lower further or raise depending on the outcome of the dispute.

 

You should never dispute with the CRA and the OC at the same time.  It can lead to confusion and longer resolution times.

New Member
Posts: 4
Registered: ‎09-16-2013
0

Re: OC changed reporting

Thank you for the advice, I'm learning the hard way

Epic Contributor
Posts: 21,586
Registered: ‎03-19-2007
0

Re: OC changed reporting

[ Edited ]

Did you pay before they actually did the charge-off, or only before they reported it?

The date they actually did the internal bookeeping measure that constituted their CO will almost always precede the date they actually reported it.

It is rare that a consumer knows the actual date that a creditor conducts their internal accounting business.

 

As for updating while a dispue is pending, nothing wrong with that.  Their investigation, required as part of the dispute process, can make then aware of any inaccuracy or incomplete reporting, which they can update at any time.  A furnisher is not required to report all derogs on an account.  They are only prohibited from reporting information that is inaccurate.  An account review associated with the filing of a dispute can ofter lead to additional negative reporting. 

Perhaps a bit vindictive, but not prohibited.

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