Disputes: Be careful what you wish for?!!

[homerunstacy]

I disputed to Equifax that my real estate account from Wells Fargo was not updated correctly with the correct monthlty payment and balance. Plus I asked once that was corrected that they remove the dispute from the comments:

"Account information disputed by consumer, meets FCRA requirements"

Right now I am taking a big hit on my score for the real estate account not reporting. So guess what happens...  Wells Fargo comes back and updates EQ with correct info but the dispute commets stay and the account is still not getting calculated in my score. 

That isn't even the worst part....  I go to check TU report  which was fine to begin with and now that one is also showing the same dispute comments even though I never disputed the TU reporting!!!!!!!!  

Called TU to fix it but they said if I dispute the dispute (lol) it still takes 30 -45 days to update.   He suggested I try Wells Fargo.  Called Wells Fargo and the CSR I spoke with was clueless. She went back and forth with a supv.  and eventually just opened a work order. She said that could take a few weeks to fix.  I told her to escalate it and she said she would.   I explained all they need to do is submit the universal data form (UDF) as they have done for me in the past and it would immediately get updated.

Moral of the story:  Be careful what you wish for!   Cost me a 40pt drop on TU.

[Anonymous]

Same thing happened to me with my Cap One account.  Disputed something minor years ago, account dropped off my credit report altogether, and  still can't get them back on EX (called Cap One, sent them copy of my EX report,...)  At least I have other revolving TLs to make up the shortfall on EX tho.

[Lel]

I'm curious about something - why did you feel it was necessary to dispute the mortgage balance and monthly payment?  Usually when people dispute it's because of some derogatory information.  The scheduled payment amount doesn't affect your score, and the balance of an installment loan has only minimal impact on one's credit score (unlike revolving credit balance).

Was it because your payment history wasn't completely up-to-date?  Some mortgage lenders lag by a couple months in their reporting, but as long as they're reporting on a regular basis, then it will reflect favorably on your credit reports.  That's the situation with my mortgage.

[homerunstacy]

EDIT:  In my first post I said it was EQ but it was actually EX that was still reporting the wrong balance, payment, and had the dispute comments.

I disputed primarily because it wasn't being counted in factoring my score and still had dispute comments rolling over the last few months on one CRA. This was leftover from back when I had done refi/in-house loan mod in the summer.  At the end of July when I closed on the mod Wells had submitted the UDF to all three agencies to fix the data.   TU and EQ fixed it within just 48 hours.  EX never got fixed.  Since I had already been waiting 3 cycles I figured I'd contact the CRA and ask them to update the balance, payment info, and remove the dispute comments.   I guess EX researched with Wells, updated the correct data for the payment info and balance but since this also counted as a dispute again Wells left the dispute comments for this cycle.  What I didn't know was that it would trigger wells to send dispute comments to the other 2 CRAs also that had already been corrected back in July.  Hopefully it will all get worked out by the next cycle  and/or based on my direct call to Wells Fargo to fix the info. Hindsight I probably should have just kept my mouth shut!?  Luckily I am not doing any auto loan shopping for several months or longer so I have time to get this all worked out.

[RobertEG]

You can dispute the accuracy or compleness of "any item of information contained in a consumer's file...."

I would suggest eliminating the CRA from any initial participation in the dispute process by not disputing under FCRA 611(a).

I see no valid reason for wanting them involved in your dispute with a creditor.

I suggest using the new direct dispute process under FCRA 623(a)(8) and 16 CFR 660.4.