Disputing 5+ year delinquent accounts

[Anonymous]

I'm sure this has been discussed but couldn't find anything clear cut.i have perfect history for the past 5 years however i have 1 auto loan that had 1 60 day late reported  and one collection account that reflects "paid for less than full amount. The later ius 6 years old. I have not attempted to dispute these two accounts for 2 years. My question is should I try again to dispute these for removal ?Will it benefit my current scores? Currently sitting at 730, 744, 739

[Anonymous]

Are they reporting accurately? If so then you don't have any grounds to dispute them. Disputes are meant to correct erroneous reporting. Frivolously disputing accurate tradelines just because they hurt your scores isn't the purpose of a dispute, and often it'll hurt your scores further when it comes back as validated.

Look up the goodwill saturation technique - that's the proper way to address derogs.

[M_Smart007]

@Anonymous, If they are legit? I would not try to dispute them.

What if they were to update them as current? ..

Because of the age, I would leave them alone, or as @ ImTheDevil suggested, maybe send GW letters?

[805orbust]

+1 on letting sleeping dogs lie. It seems you're so close to having them fall off that its worth the wait. Despite their existence your scores are fantastic. 

[Ultros]

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@Anonymous wrote:

often it'll hurt your scores further when it comes back as validated.

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Can you explain how that would happen? My understanding is that if a loan is validated, the date it was started/paid off should not change and it should still fall off the report after 7 years, so I'm not sure how that would hurt the score (versus just restoring it to the old value if validated).

[Anonymous]

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@Ultros wrote:

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@Anonymous wrote:

often it'll hurt your scores further when it comes back as validated.

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Can you explain how that would happen? My understanding is that if a loan is validated, the date it was started/paid off should not change and it should still fall off the report after 7 years, so I'm not sure how that would hurt the score (versus just restoring it to the old value if validated).

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You are correct in that the debt is not re-aged and will fall off at the same time no matter what. The problem is that after a dispute, the account is then updated with the results of the dispute. When this happens, the account is seen as "new" to the scoring algorithm because it contains new data (even if that data is simply a comment stating "account disputed by customer, meets FCRA requirements"). This update causes a hit to your score. 

[Anonymous]

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@Anonymous wrote:

I'm sure this has been discussed but couldn't find anything clear cut.i have perfect history for the past 5 years however i have 1 auto loan that had 1 60 day late reported  and one collection account that reflects "paid for less than full amount. The later ius 6 years old. I have not attempted to dispute these two accounts for 2 years. My question is should I try again to dispute these for removal ?Will it benefit my current scores? Currently sitting at 730, 744, 739

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Goodwill letter and prayers are your only options.   Does not hurt to send one to them the worse that can happen is they say no.  I did a goodwill letter for a medical and they took it off