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07-26-2011 10:27 AM
So far, I am not doing well at all raising my Credit Score. ))-; I am praying that paying off my Closed 2250 CL with 1500 balance installment account today while leaving 9% balance on CC will help...
But in the meantime, I just get in the mail that CitiMortgage cannot request that CRA remove late pmt. "Since we are unable adjust your credit report exactly as you requested, we have placed and "In Dispute" comment on your CitiMortgage trade line" ... furthermore ... "we are unable to provide information how or if this Dispute Code may impact your FICO or other credit scores."
Does anyone know what effects of "In Dispute" comment placed by CitMortgage have on credit score ... should I worry??
07-26-2011 10:39 AM - edited 07-26-2011 10:40 AM
Others correct me if I am wrong-but I believe a continued dispute on a regular tradeline will not be considered when determining the score. This could be harmful if it is one of your oldest accounts and/or there is some good history in there as well.
If you are applying for a mortgage or something large, nothing can show in dispute.
07-26-2011 10:59 AM
It can show in dispute when applying for a mortgage if there is a $0 balance.
07-26-2011 11:26 AM - edited 07-26-2011 11:28 AM
This account is my current mortage account. High balance $85,000, now $50,000 and has not had one late since 2006 yet is still in derogatory/Adverse status. So today CitiMortgage places In-Dispute. How long will Derogatory status remain with lates in 2006? Is it worse now with In-Dispute labeling? This is the very company that I want to get refinancing with. Should I request that they take off In-Dispute labeling? Thanks
07-26-2011 11:44 AM
Lates from 2006 shouldn't be hurting your score too much. Their impact does tend to dwindle with age. Citifinancial is now OneMain, or something like that.
07-26-2011 11:44 AM
Sorry, Citimortgage might be different, just noticed that.
07-26-2011 12:53 PM
If you are looking to refi I would absolutely not have them place it in continued dispute status.
The late from 2006 shouldn't be harming your score that much.
07-26-2011 12:55 PM
"It can show in dispute when applying for a mortgage if there is a $0 balance."
Ok, I will rephrase and say anything open with a balance cannot be in dispute status. Though that isn't an issue with this particular story.