topic How to dispute in Rebuilding Your Credit

How to dispute

Anonymous — Fri, 02 Jan 2009 14:05:34 GMT

I have decided to work on my husband's credit since I have had some success in cleaning up mine.

In review of his report(s) I noticed a credit card item, 5Star Bank had the following information listed:

Please note, I am almost certain the last month of activity was April 2007. I need help with how to dispute the information. I am not denying the amount owed. I just have a problem with history of a charge off on a monthly basis. Is there anything we can do. This information is really causing his credit score to be low and we want to buy a home by Sept. 2009. Equifax score is 543 him Too scared to look at other three at this time for him.

Thanks in advance

Date open 6/2005

Account History:
Charge Off as of Dec 2008, Nov 2008, Oct 2008, Sep 2008, Aug 2008, Jul 2008, Jun 2008, May 2008, Apr 2008, Mar 2008, Feb 2008, Jan 2008, Dec 2007, Nov 2007, Oct 2007, Sep 2007, Aug 2007, Jul 2007, Jun 2007, May 2007, Apr 2007
90 days as of Apr 2007
60 days as of Mar 2007
30 days as of Feb 2007, Jun 2006, Oct 2005, Sep 2005 Balance History:
11/2008 $3,295
10/2008 $3,295
09/2008 $3,295
08/2008 $3,295
07/2008 $3,295
06/2008 $3,295
05/2008 $3,295
04/2008 $3,295
03/2008 $3,295
02/2008 $3,295
01/2008 $3,295
12/2007 $3,295
11/2007 $3,295
10/2007 $3,295
09/2007 $3,295
08/2007 $3,295
07/2007 $3,295
06/2007 $3,295
05/2007 $3,295
04/2007 $3,295
03/2007 $3,306
02/2007 $3,238
01/2007 $3,169

Limit High Balance History:
Between Jan 2007 and Nov 2008, your credit limit/high balance was $3,030

Re: How to dispute

Anonymous — Fri, 02 Jan 2009 14:45:01 GMT

What exactly are you wanting to dispute?

You state the last month of activity was April 2007, but it shows your string of lates that led to the CO began in Feb 2007, then it CO in April 2007.

They can report CO on a monthly basis, as it is a CO.

Re: How to dispute

Anonymous — Fri, 02 Jan 2009 14:54:03 GMT

Then I guess, there is no dispute. I thought (lack of knowledge) that the original charge off date only showed on a CR, not on a monthly basis. Do you think it makes sense to settle and request delete if it will be 24 mths of CO a/o April 2007. Plan to buy home in fall of 2009. FHA loan.

Re: How to dispute

Anonymous — Fri, 02 Jan 2009 14:59:58 GMT

Aren't these monthly CO affecting his Fico Score?

Re: How to dispute

Anonymous — Fri, 02 Jan 2009 15:09:22 GMT

tturnage wrote:
Then I guess, there is no dispute. I thought (lack of knowledge) that the original charge off date only showed on a CR, not on a monthly basis. Do you think it makes sense to settle and request delete if it will be 24 mths of CO a/o April 2007. Plan to buy home in fall of 2009. FHA loan.

If being reported by the OC as a regular TL, removing it could harm you depending on the age of the account and how it compares to the age of your other accounts.

If this is a revolving account and the balance is being included in your utilization, then paying it could gain you some points in that area.

Is a CA reporting this as well? I am going to assume it is within SOL, correct?

Can you PIF?

Re: How to dispute

Anonymous — Fri, 02 Jan 2009 15:16:13 GMT

This is reported by OC. No CA is reporting. This is within SOL. NC SOL is 3 yrs, I think. This is a cc, revolving. No we can not PIF. If I were to pay in monthly installments to pay down would that harm FICO or should I just let it be?