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I just wanted to know if "comments" on your accounts affects your score in anyway. I disputed an account last year for incorrect reporting, it came back as valid and I decided to leave it alone but the comments "consumer disputes this account information" still shows, although it is also under a closed account. Just wondered if I should tell the CRA's that I no longer dispute it or just leave it be ?
@LShawn08 wrote:I just wanted to know if "comments" on your accounts affects your score in anyway. I disputed an account last year for incorrect reporting, it came back as valid and I decided to leave it alone but the comments "consumer disputes this account information" still shows, although it is also under a closed account. Just wondered if I should tell the CRA's that I no longer dispute it or just leave it be ?
Accounts noted with disputes have some elements removed from Fico scoring and its why if apping for a mortgage they want all dispute comments removed so they can get a true Fico on you. http://ficoforums.myfico.com/t5/Mortgage-Loans/Best-Way-to-Remove-quot-Account-In-Dispute-quot-for-M...
A dispute must, by statute, be concluded in 30'ish days.
They sent a \Notice of Results of Reinvestigstion, which is the formal document that concludes a dispute.
The CRA must retain a record of the dispute having been filed, but will update to show its termination.
I presume that the credit report also states "meets requrements of \FCRA" or similar language, indicating conclusion of the dispute.
Thus contacting the CRA is not necessary if the dispute is shown as concluded.