I recently went through a short sale with BOA. Due to the difficulty of dealing with that, I was forced to hire an attorney to handle the matter. As part of the service, their credit division assist with credit repair after the sale, which is where we are now. They filed disputes on items in my credit report. Today upon reviewing my updated Credit Karma account, I see a Midland collection account is now listed as a closed collection. Under the comments it states "Account information disputed by consumer, meets FCRA requirements". I've yet to receive a reply in the mail but was curious where I stand on this account. My credit score on myFico increased by 1 point and it indicates it was a result of this credit report change. My question is, is this ultimately a good thing? I've done a lot of reading on these boards and others but have not seen a situation explained that was identical or even very close to this. Appreciate any feedback you guys have. I've seen huge rebounds in my score over the last year but i'd like to see it come up another 50 points. I've been working really hard on it, along with using the credit service.
That comment indicates that the CRA has marked the dispute as having been concluded.
You should thus have received a formal notice of results, informing you of the formal conclusion of the dispute, and its findings.
If the dispute was filed through a CRA, their reinvestigation was required to have been completed within 30 days of filing, and the Notice of Results of Reinvestigation mailed within 5 business days thereafter. Thus, you should have received their Notice within approx 40 days after the dispute.
If the disputer was filed directly with the debt collector, they were requried to have completed thrir investigation within the same 30 day period, and sent their Notice directly to you within 5 days after concluding their investigation.
How long ago did you dispute, and have you received any formal Notice of Results?
Letters were sent on 5/23/2016 according to my online portal with the CRA. According to myFico the first alert I received was on 06/13/2016 regarding to disputes.
|Total Credit: $240,100||Credit Utilization: 1%||AAoA: 5 years, 7 months||Installments: Car Lease, Marcus Loan||Negatives: 0|
That is the first I can recall there being a score change associated with a status update or change. Interesting.
It's just a trigger, doesn't necessitate causality for the change with how coarse the monitoring solutions are.
That said disputes are wonky beasts, can and do discount tradelines from scoring, and apparently sometimes well after they were concluded anecdotally at least on the older versions of the algorithms... isn't much you can do with seeing a score change around a dispute but /shrug as not even the FICO Gods can likely predict precisely what will happen with that.