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.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.