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Hello, I am new here to this forum so if I have posted in the wrong place, I apologize! I have read a lot about how accounts in dispute affect the ability to get a mortgage, but I can't seem to find anything about open disputes and auto financing. I have a credit card account that is currently showing on my credit report that there is an open dispute. There is a 0 balance on this account. I have called TU and they have advised me to send them a fax and they can take the dispute off, but that it could take up to five days. I was hoping to purchase a new vehicle this weekend. Does anyone know if any potential lenders will automatically reject an application because there is an account in dispute? Thanks for your help!
I too have never heard of car apps being effected when a disput exist. I guess the reason is because car dealers use auto enhanced FICO scores where as mortgage lenders use reg FICO.
i hope this helps you!
even if you used a credit union they often use reg FICO but I don't think they care about disputes.
What happened to your auto loan application while the account was in dispute?
Were you approved?
Did the lender question it?
Was you score higher with the dispute in place?