Understanding FICO® Scoring

[tifftiff]

I can't believe it!  I sent a dispute letter to all 3 credit bureaus to remove information that showed late payments on student loans from 2001 and 2002 that were still in deferment at the time and not late at all. My TU dropped 31 points and my EXP dropped 14 points. Nothing bad occurred from last month to now. If anything, I owe 1500 less than last month. What gives? 

Message Edited by tifftiff on 08-28-2007 03:15 PM

[Cooneyca]

Same thing happened to me.  I "won" the dispute, but it turns out I took a hit to my available credit by $5k as well.  I think it's Cap 1.  Since they don't report the CL, my high balance is gone to bouy the number up.  Consequently, even though I cut my CC debt by 35% last month, I now have a higher util.  Oh, well.  Next month they will all be at $0. 

This is a crazy game; stressing me out big time because I'm in the middle of getting approved for new construction-home loan. 

I'm holding off any further "credit repair" until after I close.  I must stay aove the 620 mark to qualify. 

[Timothy]

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tifftiff wrote:

I can't believe it! I sent a dispute letter to all 3 credit bureaus to remove information that showed late payments on student loans from 2001 and 2002 that were still in deferment at the time and not late at all. My TU dropped 31 points and my EXP dropped 14 points. Nothing bad occurred from last month to now. If anything, I owe 1500 less than last month. What gives?

Message Edited by tifftiff on 08-28-2007 03:15 PM

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are they still in dispute?

[tifftiff]

Not anymore. I haven't checked since then. Would it make a difference?

[Timothy]

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tifftiff wrote:

Not anymore. I haven't checked since then. Would it make a difference?

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Accounts in dispute do not count positive or negative towards FICO - like the are not there.

Except: Ca's and Public Records.

[Tuscani]

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Timothy wrote:

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tifftiff wrote:

Not anymore. I haven't checked since then. Would it make a difference?

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Accounts in dispute do not count positive or negative towards FICO - like the are not there.

Except: Ca's and Public Records.

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That's not entirely true. There are some things FICO will not calculate while a TL is in dispute.

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

[oneloveforall_2000]

so if you are disputing that account being dispute wont count? maybe thats why my score went up 23 points? umm maybe i should apply for a new cc before it update?

[Tuscani]

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oneloveforall_2000 wrote:
so if you are disputing that account being dispute wont count? maybe thats why my score went up 23 points? umm maybe i should apply for a new cc before it update?

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I said some items are not calculated while a TL is in dispute.. that could be the reason for your increase.

[Brammy]

Were all of the delinquencies the same across all three bureaus?.  If not, here's where it could have backfired.  When you dispute Dept of Ed, they will re report the correct info to all THREE bureaus as they see it.  Say the delinquencies were not as severe on two of the three bureaus.  Once DOE re reported it, it could not be showing the maximum delinquency on all three bureaus.  Disputing DOE usually bites you where it hurts.  Had a rep tell me 'Never dispute, call us first since by law, they have to report your payent history as is.  Happened to me.  Was initially reporting neg on one bureau, after disoute the updated the others.

[Timothy]

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Tuscani wrote:

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Timothy wrote:

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tifftiff wrote:

Not anymore. I haven't checked since then. Would it make a difference?

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Accounts in dispute do not count positive or negative towards FICO - like the are not there.

Except: Ca's and Public Records.

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That's not entirely true. There are some things FICO will not calculate while a TL is in dispute.

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

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um - Isn't that what I said?????