CRA Dispute

[Anonymous]

I recently disputed the reporting of a mortgage that reported 120+ days past due. The dispute was favorably resolved in a little over 2 weeks; however, my credit score only went up 8 points and the description field shows that the item is in dispute eventhough it has been resolved.

1. I am shocked that my score only went up 8 points. The CR does not have any new debts reporting or inquiries made. Am I being unrealistic in thinking that my score should have gone up more?

2. Is the dispute effecting my score?

3. Should I call or send a letter to the CRA to remove the dispute description?

Thanks

[Anonymous]

I wanted to add one more thing. I just pulled my Experian and TransUnion reports. Experian reports the mortgage item as being in dispute eventhough I did not dispute it with them, and this item was reported correctly by them from the start. TransUnion reports this item incorrectly, but my score dropped 9 points from the last time I checked it with no new inquiries or derogs. My Experian FAKO score has dropped almost 70 points from the last time it was checked.

What is going on?

I feel like I should have left well enough alone like I was originally told to do. With all of the money I spent to become educated and pay off debts, and the time I have spent writing letters and disputting truly inaccurate information I have not gotten anywhere. As a consumer I feel defrauded by this system that only benefits itself.

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@Anonymous wrote:

I recently disputed the reporting of a mortgage that reported 120+ days past due. The dispute was favorably resolved in a little over 2 weeks; however, my credit score only went up 8 points and the description field shows that the item is in dispute eventhough it has been resolved.

1. I am shocked that my score only went up 8 points. The CR does not have any new debts reporting or inquiries made. Am I being unrealistic in thinking that my score should have gone up more?

2. Is the dispute effecting my score?

3. Should I call or send a letter to the CRA to remove the dispute description?

Thanks

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[Lel]

How long ago was the 120 day late?  As time passes, the effect of late payments decreases.  So if this late payment is very old, then any positive effect from its removal might be small.

Also, when accounts are in dispute, some aspects of the that tradeline are excluded from FICO scoring.  So after you filed your dispute with EQ, the 120 late was not affecting your score while the dispute was being investigated.  When it disappears altogether (and the dispute notation is removed), then you may not see a significant change in your score.  However, if you compare your score from before you submitted your dispute (when the 120 day late was still affecting your score) to your score after all the dust has settled, then you might see a change.

Right now, you're sort of in a dispute limbo.  You have a received a favorable decision, but EQ hasn't completely updated their records.

With regard to why your EQ dispute seems to have affected your other mortgage entries, I know that for certain types of disputes - those that allege fraud, for example - the credit bureaus communicate with each other to let everyone know that there is a potential identity theft situation.  I wonder if something similar happened with your mortgage account, but in theory your EQ dispute (assuming you didn't suggest that something illicit may have occurred) should not have triggered cross-communication among the credit bureaus.

[Anonymous]

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@Lel wrote:

How long ago was the 120 day late?  As time passes, the effect of late payments decreases.  So if this late payment is very old, then any positive effect from its removal might be small.

Also, when accounts are in dispute, some aspects of the that tradeline are excluded from FICO scoring.  So after you filed your dispute with EQ, the 120 late was not affecting your score while the dispute was being investigated.  When it disappears altogether (and the dispute notation is removed), then you may not see a significant change in your score.  However, if you compare your score from before you submitted your dispute (when the 120 day late was still affecting your score) to your score after all the dust has settled, then you might see a change.

Right now, you're sort of in a dispute limbo.  You have a received a favorable decision, but EQ hasn't completely updated their records.

With regard to why your EQ dispute seems to have affected your other mortgage entries, I know that for certain types of disputes - those that allege fraud, for example - the credit bureaus communicate with each other to let everyone know that there is a potential identity theft situation.  I wonder if something similar happened with your mortgage account, but in theory your EQ dispute (assuming you didn't suggest that something illicit may have occurred) should not have triggered cross-communication among the credit bureaus.

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The 120 past due is four years old. I disputed what was being reported in the current status field on my CR; no fraud was alleged.

[RobertEG]

I am not sure what the dispute involved.

Disputes under FCRA 611(a) go to individual items of information included in your CR.  If the dispute was only for the reporting of a 120-day late, and it was favorably resolved, that dispute may only have gone to removal of that single item of information in your CR.

A 120-day late begs the issue of whether earlier lates still remain, such as 30/60/90 day lates.

[MarineVietVet]

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@RobertEG wrote:

I am not sure what the dispute involved.

Disputes under FCRA 611(a) go to individual items of information included in your CR.  If the dispute was only for the reporting of a 120-day late, and it was favorably resolved, that dispute may only have gone to removal of that single item of information in your CR.

A 120-day late begs the issue of whether earlier lates still remain, such as 30/60/90 day lates.

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That's a good point Robert. I don't see how there could be a 120 day late without prior 30/60/90 day lates. Unless and until they are removed derogatories still remain.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[llecs]

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@MarineVietVet wrote:

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@RobertEG wrote:

I am not sure what the dispute involved.

Disputes under FCRA 611(a) go to individual items of information included in your CR.  If the dispute was only for the reporting of a 120-day late, and it was favorably resolved, that dispute may only have gone to removal of that single item of information in your CR.

A 120-day late begs the issue of whether earlier lates still remain, such as 30/60/90 day lates.

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That's a good point Robert. I don't see how there could be a 120 day late without prior 30/60/90 day lates. Unless and until they are removed derogatories still remain.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

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And sometimes OCs under-report lates. Last thing OP wants is for them to update these lates. I remember having a CapOne that reported a 30 day in April, OK in May, and 90 in June. They should have reported a 60 in May but never did. I tried to argue with them in getting the 90 off since there was no late in MAy. They could have oblidged in reporting a late in May.

[MarineVietVet]

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@llecs wrote:

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And sometimes OCs under-report lates. Last thing OP wants is for them to update these lates. I remember having a CapOne that reported a 30 day in April, OK in May, and 90 in June. They should have reported a 60 in May but never did. I tried to argue with them in getting the 90 off since there was no late in MAy. They could have oblidged in reporting a late in May.

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Also a good point!!!  LOL

Perhaps the OP needs to tiptoe away from this possible help.  

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[Anonymous]

Thank you all for your responses.

1. The item was reporting a CURRENT STATUS OF 120 days past due. I disputed only that information. This item was paid in full 08/2006. I only wanted my credit report to reflect what is true- Paid in full not currently 120 days past due.

2. I did not dispute the past due information because that was accurate only the CURRENT STATUS was wrong.

3. When I orginally asked for advice on this matter I was told to dispute it and that my score would increase significantly. Following the resolution of the dispute- CURRENT STATUS now shows paid in full/pays as agreed, I expected my score to increase more than 8 points.

4. Experian is reporting that this item is being disputed. I asked how this could be since I never disputed it with them. I also noted that out of all three CRAs, Experian was the only one to get it right. There was never a need to dispute it with them, and so I did not.

I really just wanted to know:

 I am being unrealistic in my hopes to have a significant increase in my score?

 Since there is a notation on the item saying that it is being disputed, is this affecting my score ?

 How did Experian know that this item was disputed when I only disputed it with Exquifax?