topic Re: I think I need a break from credit repair in Understanding FICO® Scoring

Disputes can drop your score

mfinsmi1 — Sun, 24 Jul 2022 00:29:51 GMT

So learned this the hard way . Recently EQUIFAX incorrectly reported an open account as closed. I immediatly disputed it to say its open - but once i got the remark "dispute in progress" my credit score dropped 35 points. I was sick to my stomache trying to figure out what happened. Long story short i called the creditor and and they informed me sometimes when you dispute something - the alogritihm doesnt count that account into scoring - which can result in a score drop. They said once the dispute is resolved your score will return. I'll update when the dispute is finsihed if my score returns.

Does anyone else have experience with this happening to them?? Its so discouraging to see a huge score drop and not understand what is going on.

Re: Disputes can drop your score

Greenivy — Sun, 10 Jul 2022 02:28:03 GMT

Boy do I know....especially online disputes. Now I didn't get a drop from them simply being disputed, but I recently had a creditor/Experian update with the incorrect balance and showing a new current 30 day late (which was inaccurate), which dropped me 19 points. You should go read about my saga with Total Visa/Experian on the General Credit Topics section, post entitled "Experian Came Through for me in a big way".

Needless to say I will NEVER submit an online dispute for anything!!! Even if its absolutely incorrect. I will instead only dispute via certified mail!!!

Re: Disputes can drop your score

mfinsmi1 — Mon, 11 Jul 2022 02:42:37 GMT

@Greenivy wrote:
Boy do I know....especially online disputes. Now I didn't get a drop from them simply being disputed, but I recently had a creditor/Experian update with the incorrect balance and showing a new current 30 day late (which was inaccurate), which dropped me 19 points. You should go read about my saga with Total Visa/Experian on the General Credit Topics section, post entitled "Experian Came Through for me in a big way".

Needless to say I will NEVER submit an online dispute for anything!!! Even if its absolutely incorrect. I will instead only dispute via certified mail!!!

i regret not just calling the creditor to tell them to correct the error themsevles and leave me out of it. You live and you learn i guess.

Re: Disputes can drop your score

mfinsmi1 — Sun, 24 Jul 2022 00:30:40 GMT

So my score eventually recovered but after the dispute the same error appeared so i had to dispute it again, just after my scores finally recoverd BAM a huge drop .. why? one acount added the remark "dispute in progress"- i hate that a disputed item is not scoreable - i also hate when credit bureaus continue to make the same mistake after an investigation - this is the last time i am disputing this item , its not even worth it anymore to keep trying to get them to fix it if they cant get it right the second time asking

I think I need a break from credit repair

mfinsmi1 — Sun, 24 Jul 2022 00:32:29 GMT

honestly im so aggrivated - the same mistakes keep appearing after a dispute , its like they aren't even doing a proper investigation i dont know how many times i can dispute the same thing with proof and it continues to report incorrectly . This is honestly so discouraging

Re: I think I need a break from credit repair

tnhomestead — Sun, 24 Jul 2022 00:59:42 GMT

For myself, once I realized the bar on credit disputes was so low I stopped disputing and went about fixing instead.

Baddies go away, they can be paid to go or time heals all wounds. Instead I concentrated on the fundamentals and ignored the rest for the most part. It pays off with great results and disputing items that I did owe but mistakes were made on, well that just got to seem foolish in the most part. Good luck but always remember, all baddies go away.

Re: I think I need a break from credit repair

blindambition — Sun, 24 Jul 2022 02:16:20 GMT

If you have incorrect reporting, and have in good faith tried to correct with lender and CRA, then report them to CFPB with your evidence to support position.

Re: I think I need a break from credit repair

mfinsmi1 — Sun, 24 Jul 2022 08:07:19 GMT

@blindambition ive reported to the CFPB - all they do is send it to the CRA and then its a whole dispute all over again - ive sent out method of verfication letters which is probably going to be my last attempt

Re: I think I need a break from credit repair

FireMedic1 — Sun, 24 Jul 2022 08:39:42 GMT

What is inaccurate that your trying to fix? You post a lot on your moves. Cant remember which one it is.

Re: I think I need a break from credit repair

TheKid2 — Sun, 24 Jul 2022 16:56:33 GMT

I don't see how FICO can be blamed for this. You have the consumer telling them that the information is incorrect for their account, which is exactly what a dispute is. So, they remove that account from consideration when scoring until the investigation into the dispute is complete.

When there is incorrrect information on your credit profile it is the OC to be blamed because they are the one reporting it. It is not FICO's fault that they reported it wrong.

What could be improved is that every CMS gives you a dispute option and they make it look so easy. They don't educate on the downside of what that online dispute means, they just want the clicks. On top of that you have all these "credit repair" services that go dispute happy and some consumers dispute hoping to "get lucky" or try to get something updated on a technicality.

When the experienced members of these foums talk about taking control of your credit it means that you maintain the relationship with the OCs and check on them that they are reporting everything correctly. If something is wrong, your first call should be to the OC to have it corrected. If the OC will not correct the inaccuracy and you have documented proof, that is when you go to the credit bureau and dispute. The problem is that most consumers don't realize this, so education is needed.

Re: I think I need a break from credit repair

mfinsmi1 — Sun, 24 Jul 2022 17:34:47 GMT

@TheKid2 i get what yr saying but I believe some fault goes to EQ - they closed the dispute stating they did an investigation, yet the problem still exists - i called the OC they said they see the dispute from EQ and have not responed yet . So how is EQ completing the investigation and claiming they did an investigation when the OC did not even verify anything to them. If they actually did a proper investigation the problem would have been resolved.

Re: I think I need a break from credit repair

mfinsmi1 — Sun, 24 Jul 2022 17:44:45 GMT

@FireMedic1 Lmao - this in regards to an open account reporting as closed on Equifax - i know its not the end of the world , but it still bothers me. I've taken the L on trying to get negatives removed and will just wait it out . And i also can understand delays on reporting updated balances - i can forgive that too. But when something like this happens its like come on .

Also some other dropped balls on the CRA's part:

1. Transunion has two of the same accounts reporting , one with a balance of $0 and a credit limit of +1k (which is correct) , but the same account just randomly showed up last week, outdated and reporting a balance and shwoing the old CL of 200 so how did this happen ?

2. Also Experian shows no status for one of my positve accounts - no payment history , no credit limit , nada and its effecting my UTLZ and AAOA and they have been no help

They also are failing to show a 12 year old account that im an AU on.

So its things like these that are just so aggrivating , i can understand not removing a negative remark but when careless reporting occurs thats impacting my score thats when i get frustrated.

Re: I think I need a break from credit repair

TheKid2 — Sun, 24 Jul 2022 17:54:53 GMT

@mfinsmi1 wrote:
@TheKid2 i get what yr saying but I believe some fault goes to EQ - they closed the dispute stating they did an investigation, yet the problem still exists - i called the OC they said they see the dispute from EQ and have not responed yet . So how is EQ completing the investigation and claiming they did an investigation when the OC did not even verify anything to them. If they actually did a proper investigation the problem would have been resolved.

Not surprised by this and I see why you would get upset. But, if you read through the forums you will find countless examples of where the dispute was messed up. Had you started with the OC you might not have had an issue at all! Nobody tells the average consumer that. They see ads from credit repair companies and get an easy dispute button on Credit Karma.

A dispute should be absolue last resort and we all learn that the hard way! I know I did.

Re: I think I need a break from credit repair

mfinsmi1 — Sun, 24 Jul 2022 18:31:39 GMT

@TheKid2 yah well the OC was not much help when i had called its why i disputed in the first place , its one of those sub prime cards tho so no surprise there but yah i never use repair companies or the online disputes , all my disputes are via certified mail so i have records

Re: I think I need a break from credit repair

TheKid2 — Sun, 24 Jul 2022 18:53:32 GMT

@mfinsmi1 wrote:
@TheKid2 yah well the OC was not much help when i had called its why i disputed in the first place , its one of those sub prime cards tho so no surprise there but yah i never use repair companies or the online disputes , all my disputes are via certified mail so i have records

ughhhhh!!! that stinks! Process stinks for sure.

Re: I think I need a break from credit repair

babygirl1256 — Mon, 25 Jul 2022 03:19:30 GMT

@mfinsmi1 . . . Unfortunately, you will get nowhere with Equifax as they are the ONLY thorn in my side!!! Experian and TransUnion deleted my items after I escalated it to the Office of the President. I will message you the contact information for them (if you’d like it) and you can call them. Best wishes and hoping things are resolved in your favor.

Re: I think I need a break from credit repair

mfinsmi1 — Mon, 25 Jul 2022 03:44:48 GMT

@babygirl1256 did u see my post above? they all are doing something thats a giant thorn in my side

TU - reporting the same account two times but one of them is outdated with a small CL and a huge outstanding balance - which is not accurate

Exeprian - showing no status on positive acccounts

and then EQ as u saw with the whole closing an open account when it wasnt reported as closed ,, and the comment says "im the one who requested the closure " uh no no no lol

Re: I think I need a break from credit repair

mfinsmi1 — Fri, 29 Jul 2022 01:31:42 GMT

so because i disputed the account that kept reporting as closed when it was open - they actually closed the card. Im actually happy about this becasue i am trying to get rid of these subprime cards , i have 2 left now - i may just shut them all down and let my good cards grow in age and CL. I also think im going to get rid of my avant card that has been stuck at $500 - this card does not grow at all and even though theres no annual fee i dont want future lenders to base my SL off a low card limit like this.

Any suggestions - should i close me 2 subprime cards (one has a CL of $1,000 and the ohter 1500) and close the avant card that doesnt grow?

Help me decide please !

Also - my points recovered fyi

Re: Disputes can drop your score

Centurion_Dreamer — Fri, 29 Jul 2022 12:39:28 GMT

I have recently disputed my personal information on the reports (spelling mistakes, double phone numbers, street address partly wrong).
Fortunately it had no impact on the scores (I think because personal information as such has no impact on scores).

The data was right with the issuers, so my only choice was to dispute it with the bureaus.

Re: I think I need a break from credit repair

ncreature — Mon, 29 Aug 2022 20:35:12 GMT

Is OC original company?

Thank You