topic What?!? Dispute reported in my credit report?? in General Credit Topics

What?!? Dispute reported in my credit report??

Anonymous — Sun, 05 Jan 2020 17:59:57 GMT

I have NEVER seen or heard about dispute being reported on credit reports! If it is reported, does it affect my credit profile? Granted I rarely report dispute in my 30+ years of having credit cards....maybe 3 or 4 times with one recent dispute against Wal-Mart when I clicked to cancel my order but Walmart kept it open for over 30 days refusing to properly credit my $25ish. (it has since be resolved since Discover forced Walmart to credit it since I had all the evidences.

Re: What?!? Dispute reported in my credit report??

Remedios — Sun, 05 Jan 2020 18:11:36 GMT

It's normal, and it happens.
While you did not dispute with CRA, you did have an active direct dispute, which is a dispute with the lender.
Dispute was resolved, remark removed, everything is back to normal.

Direct disputes do not affect your credit the same way disputes with CRAs do (accounts may be temporarily excluded from scoring, depending on nature of dispute)

Re: What?!? Dispute reported in my credit report??

Anonymous — Sun, 05 Jan 2020 18:26:49 GMT

@Remedios wrote:
It's normal, and it happens.
While you did not dispute with CRA, you did have an active direct dispute, which is a dispute with the lender.
Dispute was resolved, remark removed, everything is back to normal.

Direct disputes do not affect your credit the same way disputes with CRAs do (accounts may be temporarily excluded from scoring, depending on nature of dispute)

I thought disputes are handled internally which was why I was puzzled to find it reported on my credit reports. Good to know it does not directly affect my FICO scores.

Thanks!

Re: What?!? Dispute reported in my credit report??

Remedios — Sun, 05 Jan 2020 18:37:24 GMT

It doesnt. In theory, lenders have to report accurate information, so them reporting something being disputed (balance in your case) is there to ensure accuracy in reporting.

Re: What?!? Dispute reported in my credit report??

Anonymous — Sun, 05 Jan 2020 19:24:33 GMT

@Remedios wrote:
It doesnt. In theory, lenders have to report accurate information, so them reporting something being disputed (balance in your case) is there to ensure accuracy in reporting.

Thank you...something new to learn

Re: What?!? Dispute reported in my credit report??

elixerin — Mon, 06 Jan 2020 19:05:59 GMT

odd. i had a fraud dispute recently and never seen it on my reports

Re: What?!? Dispute reported in my credit report??

RobertEG — Wed, 08 Jan 2020 20:34:02 GMT

Filing of a dispute triggers possible additional provisions of the FCRA, including the right to thereafter bring civil action contesting the reasonableness of the investigtion of the dispute (FCRA 623(c)), the limit on reinsertion of information that was previously deleted as a finding in a dispute (FCRA 611(a)(5)(B)), the right of a consumer to require a CRA to provide notice to any person who has acquired a credit report from the CRA within the last two years for employment purposes, or within the last six months for any purpose of the deletion of information done as a result of a dispute (FCRA 611(d)), and the right of a consumer to place a statement in their credit file if they disagree with the results of the dispute (FCRA 611(b)).

In order to make any later determination of whether such subsequent rights apply, the dispute must be recorded in the consumer's credit file, and if the disputed information is verified, in subsequent credit reports that continue to include the disputed information.

The requirement of a CRA to include indication of the filing of a dispute is set forth as follows:

"FCRA 605(f) Indication of dispute by consumer.
If a consumer reporting agency is notified pursuant to section 623(a)(3) [§ 1681s-2] that information regarding a consumer who was furnished to the agency is disputed by the consumer, the agency shall indicate that fact in each consumer report that includes the disputed information."

Re: What?!? Dispute reported in my credit report??

Anonymous — Wed, 08 Jan 2020 20:16:19 GMT

I know someone close who did a direct dispute and it did in fact affect their score and when the dispute was over the score returned. they have a thin file, so it was noticeable as it was their only credit card.

Re: What?!? Dispute reported in my credit report??

Anonymous — Thu, 09 Jan 2020 22:53:22 GMT

Let me correct myself. Upon that person logging into Experian they could not get a score for last month while the direct dispute was pending. Now that the direct dispute is over they have a score again. Remember this is their only account. Without it they don’t have the six months history necessary to generate a score.

On the other hand VS3, via CK, tanked about 110 points last month while the direct dispute was pending. Now that it’s over the points came back, not that VS3 means anything.