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babalaco
Posts: 61
Registered: ‎03-15-2008
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Will disputing raise my score?

[ Edited ]

 I have an old Bank of America account listed on my CR with a $6500 balance, shown as a charge off/collection. 

 

Status as of [?] Mar, 2006 Date opened [?] Apr, 2001 Date of last activity [?] Jan, 2005

 

On my other CR it has a zero balance. If I dispute with the CRA that the balance should indicate a 0 balance, do I have anything to gain? do I risk a point drop?

 


ALSO, on EQ, i have several accounts with a zero balance, but it indicaites a status of 120 past due. Will disputing help? How can a zero balance be past due?

 

Thanks

Message Edited by babalaco on 06-03-2009 05:42 PM
Moderator Emeritus
Posts: 11,562
Registered: ‎08-29-2007
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Re: Will disputing raise my score?

Disputing can cause score changes. Sometimes it is an increase, sometimes a decrease. Really depends. The change can occur during the dispute and then another change once the dispute is over.

 

Never dispute anything that is accurate.

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New Contributor
babalaco
Posts: 61
Registered: ‎03-15-2008
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Re: Will disputing raise my score?

...but can a $0 balance be past due? I have been making large strides to increase my score (about 140 points in the past 12 months), so I would hate to do anything to go backwards. thanks
Moderator Emeritus
Posts: 11,562
Registered: ‎08-29-2007
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Re: Will disputing raise my score?

Is it the current status that is showing 120 past due?  If so, that should be changed to reflect paid/paying as agreed.

 

 

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New Contributor
babalaco
Posts: 61
Registered: ‎03-15-2008
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Re: Will disputing raise my score?

yes, its the current status, but its a charged off account, so its isnt paid/paying as agreed. Is that a legit status?
Mega Contributor
RobertEG
Posts: 18,442
Registered: ‎03-19-2007
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Re: Will disputing raise my score?

[ Edited ]

Yes, it is a legit status.  When the OC did a CO or referred to a CA, the account was closed, with debt due.

Their account reporting in your CR still shows the debt due when charged off. 

A CO is only an internal accounting writeoff by the OC.

That does not erase the debt, just the forum for collection.

Was the $6500 debt with the OC ever paid?  If not, eitther the OC, their internal collection department, or the CA can report and collect.

Message Edited by RobertEG on 06-03-2009 06:30 PM
Valued Contributor
AndySoCal
Posts: 1,949
Registered: ‎04-07-2009
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Re: Will disputing raise my score?

I would not dispute the Bank of America account. unless the charge off /collection status is incorrect.  If it is a paid charge off or a paid collection the account will be re-reported in june of this year. Doing this brings that derog account forward in time and can hurt your score. If it is any derog status do not dispute it. The same holds true for those zero balance accounts on the Equifax report. If they should be paid or paid as agreed then I would dispute those removing derog info should help raise your score. I hope this helps
Equifax My FICO score 815 5/28/2012, 818 on 7/28/2014 . Average of Accounts 12 years and no Installment accounts. MyFICO TU 810 6/26/2012 809 4/21/2013 MyFICO XPN -805. 2/26/2014 Discover TU FICO 813 App free since 9/2011
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Posts: 11,562
Registered: ‎08-29-2007
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Re: Will disputing raise my score?


babalaco wrote:
yes, its the current status, but its a charged off account, so its isnt paid/paying as agreed. Is that a legit status?

 

If it is a paid charge off, current status should be "paid after charge off" or something like that.

 

Is the account factoring into your util? You can tell by looking at reports from myFICO. If it has been a long time since it was reported, it may not be anymore.

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