topic Re: Equifax Dropped Score for Disputing Account!? in General Credit Topics

Equifax Dropped Score for Disputing Account!?

Tjourney11 — Tue, 03 Mar 2020 21:00:16 GMT

Has anyone gone through this and what are the end results? This is for a closed account that I'm disputing. I opened dispute with all 3 bureaus last night and Equifax is the only one who did this.

Re: Equifax Dropped Score for Disputing Account!?

RSX — Tue, 03 Mar 2020 21:14:14 GMT

Are you disputing that it is Closed?

let us know the account details and the purpose of your dispute

there is a situation where you dispute a correct, bad account and due to the Verification process, it will bring a bad item to light again, and cause a score drop.

Re: Equifax Dropped Score for Disputing Account!?

Anonymous — Tue, 03 Mar 2020 21:17:17 GMT

Why are you disputing?

Re: Equifax Dropped Score for Disputing Account!?

doredeb — Tue, 03 Mar 2020 21:17:48 GMT

Yes; this happened to me. Disputed a collection, score dropped 35 points! When dispute results came back as "updated", I got the points back. This only happened on my Equifax report, BTW.

Re: Equifax Dropped Score for Disputing Account!?

Tjourney11 — Tue, 03 Mar 2020 21:46:17 GMT

I'm disputing a 30 late for a mortgage account from January 2018. Long story short, bill pay didn't go through. So you would assume that's my mistake and indeed accurate reporting. However, the lender was sending all communications to my previous address for over 8 months. So the mail notification that I missed my payment could have prevented this mistake. I'm just looking for equal blame. Only blemish on my report that I want gone! I also have documentation of them updating my mailing address as proof that I never was receiving mail correspondence.

If I'm wrong for trying, I'll back off.

Also, the mortgage was sold to another lender last yr. Hence why it's closed.

Re: Equifax Dropped Score for Disputing Account!?

RSX — Tue, 03 Mar 2020 22:06:38 GMT

You can try to get this cleared up with the original mortgage lender, but NOT through the CR dispute process

also, I understand the communications we're going to the wrong place, but the amount didn't come out of your account, so they might say you should have noticed this ( I know stuff happens, just giving you a heads up on what they might say)

don't dispute it anymore.

I hope your points are recovered

get in contact with the lender and see what they will do for you

Re: Equifax Dropped Score for Disputing Account!?

Tjourney11 — Tue, 03 Mar 2020 22:15:57 GMT

@RSX wrote:
You can try to get this cleared up with the original mortgage lender, but NOT through the CR dispute process

also, I understand the communications we're going to the wrong place, but the amount didn't come out of your account, so they might say you should have noticed this ( I know stuff happens, just giving you a heads up on what they might say)

don't dispute it anymore.
I hope your points are recovered

get in contact with the lender and see what they will do for you

Yea. I'm def a set and forget it person when it comes to bill pay because everything is auto and enough to cover my expenses. Something went funky this month. I called Equifax to voice my concerns because this is the ONLY thing that caused the dropped. So the rep opened another dispute to remove the dispute comments 😒. So we'll see how this goes. Aaid it can take up to 72 hours. So I'm wondering what do I do with the other dispute to fight the 30 day. I'll def leave it be after this.

Re: Equifax Dropped Score for Disputing Account!?

CreditInspired — Wed, 04 Mar 2020 12:32:06 GMT

@Tjourney11 wrote:
I'm disputing a 30 late for a mortgage account from January 2018. Long story short, bill pay didn't go through. So you would assume that's my mistake and indeed accurate reporting. However, the lender was sending all communications to my previous address for over 8 months. So the mail notification that I missed my payment could have prevented this mistake. I'm just looking for equal blame. Only blemish on my report that I want gone! I also have documentation of them updating my mailing address as proof that I never was receiving mail correspondence.

If I'm wrong for trying, I'll back off.

Also, the mortgage was sold to another lender last yr. Hence why it's closed.

This one may just have to be a lesson-learned. The onus is on us to ensure bill payments are made. A mortgage payment is usually our largest monthly payment so it's really kind of difficult not to notice that the payment wasnt deducted from one's checking account. And considering there's usually a 15-day grace period for mortgage payments, it seems that your non-payment exceeded that. Yep, I dont believe it will get removed--Not by the CRA anyway.

Re: Equifax Dropped Score for Disputing Account!?

Tjourney11 — Wed, 04 Mar 2020 12:40:25 GMT

@doredeb wrote:
Yes; this happened to me. Disputed a collection, score dropped 35 points! When dispute results came back as "updated", I got the points back. This only happened on my Equifax report, BTW.

I'm hoping this is the same end result because this doesn't make sense. The rep opened a new dispute to remove "dispute comments" so I'm hoping it will bounce back. One thing that was also odd that she mentioned is that the score that myFICO is saying I have (716) is not the score that she is seeing. She didn't disclose it although I'm assuming it's the (742) it was. But I'm hoping it will bounce back.

Re: Equifax Dropped Score for Disputing Account!?

Remedios — Wed, 04 Mar 2020 13:10:21 GMT

When an account is in dispute, it can be temporarily excluded from scoring.

Re: Equifax Dropped Score for Disputing Account!?

Gladius — Wed, 04 Mar 2020 13:28:26 GMT

@Remedios wrote:
When an account is in dispute, it can be temporarily excluded from scoring.

The rep should've mentioned this, especially since it's a potential "negative" effect on your score.

Re: Equifax Dropped Score for Disputing Account!?

donkort — Wed, 04 Mar 2020 13:33:28 GMT

I got a 30-day late because of neglect, too.

The previous posters are right.

Re: Equifax Dropped Score for Disputing Account!?

doredeb — Wed, 04 Mar 2020 13:43:31 GMT

@Remedios wrote:
When an account is in dispute, it can be temporarily excluded from scoring.

If that were the case, why did my score DROP when I disputed the collection? The collection was the only neg on my report, and you'd think excluding it from scoring would result in an increase, even if it was only temporary, right?

Re: Equifax Dropped Score for Disputing Account!?

Remedios — Wed, 04 Mar 2020 13:47:15 GMT

@doredeb wrote:
@Remedios wrote:
When an account is in dispute, it can be temporarily excluded from scoring.

If that were the case, why did my score DROP when I disputed the collection? The collection was the only neg on my report, and you'd think excluding it from scoring would result in an increase, even if it was only temporary, right?

Did you see this drop on Credit Karma or was it somewhere else?