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Removing a disputed item

Member

Removing a disputed item

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?

12 REPLIES
Epic Contributor

Re: Removing a disputed item

Member

Re: Removing a disputed item

Sorry I am new to this and not sure about all of abbreviations that are used. It is an old credit card from many years ago that was turned over to a collection agency.

Epic Contributor

Re: Removing a disputed item

CA = Collection agency.

 

Getting a collection removed should have helped your score, not drop it. 

 

Is there any way for you to cut and paste the tradeline in question?

Member

Re: Removing a disputed item

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.

Epic Contributor

Re: Removing a disputed item

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.

Moderator Emeritus

Re: Removing a disputed item

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?

 

Member

Re: Removing a disputed item

How does a junk debt buyer play into this? Are they the OC or a CA?

Moderator Emeritus

Re: Removing a disputed item

they are a CA.

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Valued Contributor

Re: Removing a disputed item

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.

Equifax My FICO score 814 11/29/2016, Discover TU FICO 807 12/29/2016 Citibank Equifax Bankcard FICO score 827 12/27/2016 Average of Accounts 13 years and no Installment accounts, 1 TU inquiry in 2015