Understanding FICO® Scoring

[r92503lind]

I recently found out that an account is in dispute from three months ago and still shows up on my report. I was told it is coded "T3" which is in the raw data saying it is in dispute currently. The account is valid and should show up but EQ/EX and even myfico have not idea what I am talking about. I only know of this when an IT supervisor with a credit monitoring service informed me of the issue.

Does anyone know what I am talking about and have any suggestions in verifying whether a item is counted in the FICO scoring?

Thanks,

[fused]

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r92503lind wrote:

I recently found out that an account is in dispute from three months ago and still shows up on my report. I was told it is coded "T3" which is in the raw data saying it is in dispute currently. The account is valid and should show up but EQ/EX and even myfico have not idea what I am talking about. I only know of this when an IT supervisor with a credit monitoring service informed me of the issue.

Does anyone know what I am talking about and have any suggestions in verifying whether a item is counted in the FICO scoring?

Thanks,

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Any item in dispute is not factored in FICO scoring.

[r92503lind]

I understand that it wouldn't show up if it is being disputed but the problem is the item is showing on my CR and says I disputed the information but the CRA say there aren't any items in dispute. The only reason I know something is in dispute is because I was told about this code in the raw data saying it is coded as dispute and when I run the score simulator at their website it skips the card for paying it off because it is in dispute.

I know the comments would not cause something to be considered in dispute and so I am believing what the IT guy said about a background code identifying the account being in dispute.

Any thoughts?

[Timothy]

the coding causes the comments to appear.

I will verify that non CA stuff is not factored while in dispute. Good or Bad

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r92503lind wrote:

I understand that it wouldn't show up if it is being disputed but the problem is the item is showing on my CR and says I disputed the information but the CRA say there aren't any items in dispute. The only reason I know something is in dispute is because I was told about this code in the raw data saying it is coded as dispute and when I run the score simulator at their website it skips the card for paying it off because it is in dispute.

I know the comments would not cause something to be considered in dispute and so I am believing what the IT guy said about a background code identifying the account being in dispute.

Any thoughts?

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[section8]

"Any item in dispute is not factored in FICO scoring."

Is it true that some of the agencies don't suppress the item while disputed any more and some do?

Also I read somewhere here that a dispute temporarily costs points, is that true?

Message Edited by section8 on 08-01-2007 08:59 AM

[r92503lind]

The way some comments are written it looks like someone typed it manually vs. a code but assuming that is the case if I have them remove all comments then they should be coded differently right?

[Tuscani]

There are some things FICO will not calculate while a TL is in dispute. Does that mean you should dispute in hopes of increasing your score? NO! This could easily backfire. 

Collections and public records do not apply and are never exempt while in dispute.

[fused]

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Tuscani wrote:

There are some things FICO will not calculate while a TL is in dispute. Does that mean you should dispute in hopes of increasing your score? NO! This could easily backfire. 

Collections and public records do not apply and are never exempt while in dispute.

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Collections and public records are not factored in scoring while in dispute. This is news to me! Please elaborate?

[Tuscani]

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fused111 wrote:

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Tuscani wrote:

There are some things FICO will not calculate while a TL is in dispute. Does that mean you should dispute in hopes of increasing your score? NO! This could easily backfire. 

Collections and public records do not apply and are never exempt while in dispute.

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Collections and public records are not factored in scoring while in dispute. This is news to me! Please elaborate?

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Not much else to say... if you dispute a collection or public item it's still factored into your score while the investigation is in progress.

[r92503lind]

Tuscani,

I am not trying to cheat the system as that has backfired in the past for me. I just want to find out exactly what triggers myfico or whoever is calc a FICO score what information makes an item in dispute that I can verify on my reports? I have record of items showing yet not counted in my score with little indication.

Do you have any idea how I can verify this?