topic Re: I Lost 52 points after dispute remarks were removed! in Understanding FICO® Scoring

I Lost 52 points after dispute remarks were removed!

Kkhalil85 — Fri, 04 Sep 2015 22:16:26 GMT

Hi all,

I called Equifax yesterday and asked them to remove the dispute comment from my CR. I just received an alert from myFICO that my score dropped 52 points . This is the message

Consumer Disputes This Account Information Closed Or Paid Account / Zero Balance Closed or paid account / zero balance.

The only negative info on this account are 2 120 day late payments from Jan & Feb 2009, what are your thoughts on how long will it take to gain the points back? I will be pulling make report later on tonight to make sure nothing else changed. I saw few people here that had their scores dropped after the disputes remarks were removed, but I was shocked to see the 52 points drop. Now every time I get an alert my heart sinks. Is there anything I can do to fix this?

Thank you all in advance for all or your responses and comments.

Re: I Lost 52 points after dispute remarks were removed!

Anonymous — Fri, 04 Sep 2015 22:53:10 GMT

While a negative is in dispute it is not factored in to the Fico score, so the score has simply returned to normal for your profile.

Re: I Lost 52 points after dispute remarks were removed!

Kkhalil85 — Sat, 05 Sep 2015 13:16:10 GMT

@Anonymous wrote:
While a negative is in dispute it is not factored in to the Fico score, so the score has simply returned to normal for your profile.

Thank you CAPTOOL, I guess I never thought that 2 120 day lates from Jan & Feb 2009 will have this severe of an impact on my score.

Re: I Lost 52 points after dispute remarks were removed!

Kkhalil85 — Sat, 05 Sep 2015 13:41:04 GMT

Can I expect to gain these points back once the lates fall off in 4-5 months? Is it possible for Equifax to remove them any earlier, they no longer show on Experian.

Here is a copy of the letter, in case I missed any info:

Date Opened: 05/01/2005

High Credit: $6,029

Credit Limit $5,000

Terms Frequency: Monthly

Months Revd: 45

Activity Designator: Paid and Closed

Items As of Date Reported: 9/3/15

Balance Amount: $0

Amount Past Due: $0

Date of Last Paymnt: 02/2009

Actual Paymnt Amount: $200

Scheduled Paymnt Amount: $221

Date of 1st Delinquency: "they left this empty"

Date of Last Activity: 03/2008

Date Maj. Del. 1st Rptd: "they left this empty"

Charge Off Amount: 0

Deferred Pay Start Date: "they left this empty"

Balloon Pay Amount: $0

Balloon Pay Date: "they left this empty"

Date Closed: 02/2009

Status − Pays As Agreed; Type of Account − Revolving; Type of Loan − Credit Card; Whose Account − Individual Account;

ADDITIONAL INFORMATION − Closed or Paid Account/Zero Balance;

Account History with Status Codes

02/2009- Code 4

01/2009- Code 4 Code 4: 120-149 Days Past Due

Thank you all.

Re: I Lost 52 points after dispute remarks were removed!

Anonymous — Sat, 05 Sep 2015 16:23:02 GMT

@Kkhalil85 wrote:
@Anonymous wrote:
While a negative is in dispute it is not factored in to the Fico score, so the score has simply returned to normal for your profile.
Thank you CAPTOOL, I guess I never thought that 2 120 day lates from Jan & Feb 2009 will have this severe of an impact on my score.

120's are considered pretty serious, so two of them could very well account for 52 points. In answer to your other question, yes, you will see a nice bump when they fall off. And finally, you can ask for what's known as "early exclusion", but results on that vary from CRA to CRA. Some will do it three months in advance, some a month. And sometimes the customer service rep will have no idea.

Re: I Lost 52 points after dispute remarks were removed!

Kkhalil85 — Sat, 05 Sep 2015 16:31:24 GMT

@Anonymous wrote:
@Kkhalil85 wrote:
@Anonymous wrote:
While a negative is in dispute it is not factored in to the Fico score, so the score has simply returned to normal for your profile.
Thank you CAPTOOL, I guess I never thought that 2 120 day lates from Jan & Feb 2009 will have this severe of an impact on my score.
120's are considered pretty serious, so two of them could very well account for 52 points. In answer to your other question, yes, you will see a nice bump when they fall off. And finally, you can ask for what's known as "early exclusion", but results on that vary from CRA to CRA. Some will do it three months in advance, some a month. And sometimes the customer service rep will have no idea.

Thanks again CAPTOOL, I appreciate your help. Do you know if the "early exclusion" is approved will it only emit the 2 120 day lates, or will the entire account be deleted.

Re: I Lost 52 points after dispute remarks were removed!

Anonymous — Sat, 05 Sep 2015 16:39:54 GMT

@Kkhalil85 wrote:
@Anonymous wrote:
@Kkhalil85 wrote:
@Anonymous wrote:
While a negative is in dispute it is not factored in to the Fico score, so the score has simply returned to normal for your profile.
Thank you CAPTOOL, I guess I never thought that 2 120 day lates from Jan & Feb 2009 will have this severe of an impact on my score.
120's are considered pretty serious, so two of them could very well account for 52 points. In answer to your other question, yes, you will see a nice bump when they fall off. And finally, you can ask for what's known as "early exclusion", but results on that vary from CRA to CRA. Some will do it three months in advance, some a month. And sometimes the customer service rep will have no idea.
Thanks again CAPTOOL, I appreciate your help. Do you know if the "early exclusion" is approved will it only emit the 2 120 day lates, or will the entire account be deleted.

That's a good question and, unfortunately, there is no definitive answer. Sometimes the entire tradeline gets deleted, and sometimes just the bad entry. If deleting the entire tradeline would have a severe negative impact on your AAoA, it might be better to wait until they drop off naturally.

Re: I Lost 52 points after dispute remarks were removed!

Anonymous — Mon, 07 Sep 2015 22:33:44 GMT

How long ago did you dispute them? Does just having the comments there cause your score to be inflated, or is it only inflated during that 30 dispute period? I'm only wondering because I have dispute comments on an account with a 30 day late - but I disputed it 2 years ago, and the dispute is over, but the comment still remains. Should I expect my score to drop if I ask them to delete the comment?

Re: I Lost 52 points after dispute remarks were removed!

Kkhalil85 — Tue, 08 Sep 2015 23:16:25 GMT

@Anonymous wrote:
How long ago did you dispute them? Does just having the comments there cause your score to be inflated, or is it only inflated during that 30 dispute period? I'm only wondering because I have dispute comments on an account with a 30 day late - but I disputed it 2 years ago, and the dispute is over, but the comment still remains. Should I expect my score to drop if I ask them to delete the comment?

I disputed them many years ago. I think having the comment inflated my score. Unfortunately I think your scores will drop.

Re: I Lost 52 points after dispute remarks were removed!

gdale6 — Wed, 09 Sep 2015 13:12:17 GMT

The early exclusion cannot be used on individual lates in an account that is open or closed in good standing. Each late will drop at the 7 year mark and when the last one is gone it becomes a total positive account. You can attempt to get them removed with a GW letter to the creditor.

Re: I Lost 52 points after dispute remarks were removed!

Kkhalil85 — Wed, 09 Sep 2015 14:29:53 GMT

@gdale6 wrote:
The early exclusion cannot be used on individual lates in an account that is open or closed in good standing. Each late will drop at the 7 year mark and when the last one is gone it becomes a total positive account. You can attempt to get them removed with a GW letter to the creditor.

Thanks gdale6.

I pulled my 3B Reports from myfico, and interestingly Experian is no longer reporting the account nor any of my paid and closed student loans. I found it strange that the other CRA are reporting it. Becuase of this account my Experian score is higher, but I get a note about short AAoA.

Re: I Lost 52 points after dispute remarks were removed!

Shann0n_marie — Thu, 10 Sep 2015 02:01:51 GMT

@Kkhalil85 wrote:
@Anonymous wrote:
How long ago did you dispute them? Does just having the comments there cause your score to be inflated, or is it only inflated during that 30 dispute period? I'm only wondering because I have dispute comments on an account with a 30 day late - but I disputed it 2 years ago, and the dispute is over, but the comment still remains. Should I expect my score to drop if I ask them to delete the comment?
I disputed them many years ago. I think having the comment inflated my score. Unfortunately I think your scores will drop.

That doesn't seem correct to me? Shouldn't the tradeline update after the dispute findings have been completed?

Re: I Lost 52 points after dispute remarks were removed!

Kkhalil85 — Thu, 10 Sep 2015 03:22:39 GMT

@Shann0n_marie wrote:
@Kkhalil85 wrote:
@Anonymous wrote:
How long ago did you dispute them? Does just having the comments there cause your score to be inflated, or is it only inflated during that 30 dispute period? I'm only wondering because I have dispute comments on an account with a 30 day late - but I disputed it 2 years ago, and the dispute is over, but the comment still remains. Should I expect my score to drop if I ask them to delete the comment?
I disputed them many years ago. I think having the comment inflated my score. Unfortunately I think your scores will drop.
That doesn't seem correct to me? Shouldn't the tradeline update after the dispute findings have been completed?

I did not think removing a 4-5 years old dispute comment will affect the score, but it did. There are few posts here with people in the same boat as me. I agree with you 100% I think the score should be based on the results of the dispute not a comment in the account remarks.