Re: Score went down almost 50 points due to disputing comments on my credit report[ Edited ]
04-17-2013 10:18 AM - edited 04-17-2013 10:19 AM
So what you are saying is that Fico is not taking into account of my good pay history for the auto loan. Is this why my score dropped?
No...FICO pretty much ignores the "OKs" on your CR, and only looks at the negatives. If I read your post right, your FICO dropped when the dispute comments cleared, right? The drop would be because FICO is scoring the negative history, once again, whereas it didn't before when the dispute comments were showing. In other words, the dispute artificially propped up your score. FHA-based lenders and others do require dispute comments to be removed for that reason.
ETA...BTW, there are steps you can take if you have time to get some of the lates removed, via help of the lender.