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My score dropped almost 100 points because of 1 CREDITOR’S mistake. I spoke to the creditor and they have fixed the error and advised me that the credit bureaus will be notified. I know it will take approx 30-45 days for this but my question is…will my score go back to the score it originally was before it dropped 100 points? And if so, how long will that take? I’m afraid it’s going to take another year for that to happen when this wasn’t even my fault. I feel like it should just be automatically reversed.
@Anonymous wrote:My score dropped almost 100 points because of 1 CREDITOR’S mistake. I spoke to the creditor and they have fixed the error and advised me that the credit bureaus will be notified. I know it will take approx 30-45 days for this but my question is…will my score go back to the score it originally was before it dropped 100 points? And if so, how long will that take? I’m afraid it’s going to take another year for that to happen when this wasn’t even my fault. I feel like it should just be automatically reversed.
Assuming this is a FICO score from here, and if that creditor fixes it and changes it back to EXACTLY the way it was before and if the info and all of your balances are EXACTLY the same as it was before on your other report pull, then with everything being equal, your score will bounce back to where it was before. The score will bounce back the exact moment the credit makes their fix to your report(s). If anything is off like a balance, an account comment, a date, etc., then, per FICO, your score could differ. It depends on the before and after change.
ETA....welcome to the forums!
I disagree. I had the same problem due to a lender's actions (they opened a dispute with the credit bureaus regarding a credit card issue that I had handled and which had been reflected in my score). Their mistake was fixed within a few weeks, but my score did not recover.
Same here. Sallie Mae reported me 60 days late for 12 months on a loan that was paid in full 24 months ago. They sent me a letter saying it was a mistake on their part and fixed it but my score hasn't budged. It dropped my score al most 65 points and totally destroyed my shot at getting a mortgage.