topic Re: WHAT JUST HAPPENED?! in General Credit Topics

What just happened?!

Jkrause702 — Sat, 09 Aug 2014 01:42:56 GMT

So my EQ FICO was bouncing around 615-620 and making quite the comeback since my ch7 last year.

I got a scorewatch alert a while ago that it had dropped 25 points because of updates to some student loan accounts...

according to scorewatch the changes were

FEDLOAN SERVICING CREDIT

(XXXXXXXXXXXXX0004)

Show/Hide Details

Account opened: 5/2005

Description: Consumer disputes this account information
Student loan - payment deferred

	Previously reported	Newly reported
Balance:	$1,141
Past due:	$0	$0
Status:	Pays account as agreed	Pays account as agreed
Last activity:	6/1/2014	7/1/2014
Description:	Student loan - payment deferred	Consumer disputes this account information Student loan - payment deferred

Confusing part is this... that account is right, I haven't disputed it. It shows always paid on time and in deferment. no lates. no negatives. Same with four other student loan accounts..and same changes showing on those alerts.

I had disputed some duplicate tradelines for US Dept of ED that were the same loans under the Direct Loans servicer that showed some 30,60,90,120 lates from before my bk and going back to school. Since I'm in deferment and should of been in the whole time I disputed those lates.

I pulled a fresh report and compared it to one from a few days ago and the disputed direct loans have been deleted, the whole tradelines.... so if all those six accounts were deleted with all their lates and mentions of bk then why did my score drop!?

Re: WHAT JUST HAPPENED?!

Jkrause702 — Sat, 09 Aug 2014 01:39:21 GMT

And I didn't even get an alert about the deleted accounts....

Re: WHAT JUST HAPPENED?!

Revelate — Sat, 09 Aug 2014 01:42:30 GMT

@Jkrause702 wrote:
And I didn't even get an alert about the deleted accounts....

You won't unfortunately, SW doesn't track that. Sadly.

As for it, disputes can discount tradelines from scoring; between that one and your removed accounts, do you have other open installment loans on your report? That would account for a drop.

Re: What just happened?!

Jkrause702 — Sat, 09 Aug 2014 01:51:01 GMT

No that is my only installment is my student loans..... So if something is currently in dispute status it is not included in score calculations????

Re: What just happened?!

Jkrause702 — Sat, 09 Aug 2014 01:53:00 GMT

I'm all for the deleted ones being deleted. They aren't servicing them anymore and were not reported right. Though I am surprised the direct loans were deleted. Is it possible the duplicate between fed loan and direct loans were unknowingly increasing my Aaoa? Even though they were the same accounts?

Re: What just happened?!

Revelate — Sat, 09 Aug 2014 01:57:25 GMT

@Jkrause702 wrote:
I'm all for the deleted ones being deleted. They aren't servicing them anymore and were not reported right. Though I am surprised the direct loans were deleted. Is it possible the duplicate between fed loan and direct loans were unknowingly increasing my Aaoa? Even though they were the same accounts?

Any tradeline regardless of duplication affects AAOA.

Between that and the dispute, I'm not surprised you took a hit: yes a dispute can and often will discount a tradeline from scoring. Likely when that dispute is resolved you'll gain some of them back for now having an open installment line.

Re: What just happened?!

Jkrause702 — Sat, 09 Aug 2014 02:07:11 GMT

Hmmm but I don't want those accounts disputed lol. I don't know if it was done by the bureau or the lender because of the duplicates I disputed or if I did it by accident... Nonetheless if I call and request the dispute to be cancelled would they undo that? I don't see a point in wasting the bureau or lenders time verifying everything is accurate when I know it is. Those are my strongest accounts with ten year history (even if a lot was in deferment)

Re: What just happened?!

Revelate — Sat, 09 Aug 2014 02:24:07 GMT

@Jkrause702 wrote:
Hmmm but I don't want those accounts disputed lol. I don't know if it was done by the bureau or the lender because of the duplicates I disputed or if I did it by accident... Nonetheless if I call and request the dispute to be cancelled would they undo that? I don't see a point in wasting the bureau or lenders time verifying everything is accurate when I know it is. Those are my strongest accounts with ten year history (even if a lot was in deferment)

I would, though it's probably not much time these days but you'll want to get the dispute and remarks removed eventually.

http://ficoforums.myfico.com/t5/Mortgage-Loans/Best-Way-to-Remove-quot-Account-In-Dispute-quot-for-Mortgage/m-p/869450#M75029

Re: What just happened?!

Jkrause702 — Sat, 09 Aug 2014 02:32:16 GMT

Awesome thanks for the enlightenment... Another reason this place is amazing.