02-13-2013 05:26 PM
I am hoping someone can help me understand this better. I had a disputed item on my credit, we are trying to get a mortgage and the loan officer said we would have to get the dispute removed from my credit before they could do anything. So I sent a non dispute letter, it was removed and my credit dropped by 51 points....why in the world did it drop so much??? Will it go back up anytime soon?
02-13-2013 05:54 PM - edited 02-13-2013 05:55 PM
02-13-2013 06:37 PM
Unfortunately the collection did not get removed, just to "dispute" It said "Account information disputed by consumer". The dispute itself was removed, the collection was not removed.
02-13-2013 07:52 PM
When you initially disputed it did your score increase?
The only reason I can see for this to happen is if you got an increase when the dispute happened and they took it back after removing the dispute.
But, since it was a CA account, it never should have been removed from scoring in the first place.
Have you got a new copy of your credit report since this happended. It might be a good idea to. See if something else happened.
02-14-2013 06:23 AM
OP, some folks use "collection" loosely, but per FICO scoring it makes a big difference. For clarity, was this a collection agency reporting on behalf of a debt, OR was this a charge-off like a CC, phone bill, loan, etc.?
Were both scores (the before and after that resulted in the 51 pts) from the lender? Or was the 2nd score from another source?
02-18-2013 06:37 AM
they are a CA.
02-18-2013 03:03 PM
When an account is disputed it remains nuetral in the scroing process. Once the dispute is removed on the disputed acocunt the account is fully factoted in the the score.