Filing a dispute with EX to update balance

[Trudy]

I've not filed a dispute and wondering if it's worth it or give EX some more time.  I've read nightmare stories about EQ disputes but not much about EX.

Speaking with EX they stated what I could clearly see, the account has not updated since March but they state they have not received the information from the lender.  Spoke with the lender who stated they send updates automatically to all 3B's and EQ and TU has updated each month since.  EX use to be the 1st to update.  They suggested I dispute stating balance has not been update or is incorrect which will force them to request and the lender to resend the information.

I can wait a bit as I plan to pay the loan off in September and at that time I'd like for it to definitely update.  But I would like to see the effects of it at the lower balance and it should be updated anyway.

Thoughts?

[Anonymous]

If you don't need it updated right now, save the dispute. Once you dispute an account once, they can throw away subsequent disputes without investigation as being frivolous so I would just wait it out. 

EX has been slow to update since early on in COVID-19. A few of us have noticed it. 

[Trudy]

I've noticed they've been late, but not missed.  Only missed reporting for me was due to the lender (WF), but they seem to be back on track.  But I can surely wait.  I've been waiting each month to pull my 3B with myFICO but went ahead.  Kind of wanted to see what it might due to all EX scores since it will drop this loan from 9.03% to 7.85%.  And for 8's, EX is the only one I can kind of monitor the affects.  Unlike EQ & TU, I'm nearly convinced 850 can't be reached with EX with an AoYA < year.

[Remedios]

"Frivolous dispute" is the one where correct information is being disputed in hopes of getting it deleted, not the incorrect info that Trudy has for at least two months. 

I hope you arent saying that the reason for dispute is frivolous,. 

@Trudy You can safely dispute balance that's incorrect. Typically these disputes resolve very quickly,  however, if there is an issue either on EX side or lenders, it might take up to full 30 days.

[Anonymous]

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@Remedios wrote:

"Frivolous dispute" is the one where correct information is being disputed in hopes of getting it deleted, not the incorrect info that Trudy has for at least two months. 

I hope you arent saying that the reason for dispute is frivolous,. 

@Trudy You can safely dispute balance that's incorrect. Typically these disputes resolve very quickly,  however, if there is an issue either on EX side or lenders, it might take up to full 30 days.

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I mean it's not negative information and disputes are time consuming. It's easy for me to see why they would think it was frivolous since there is no legislation that guarantees an update in a specific amount of time or that it would even be reported at all. Sometimes it seems like the credit bureaus don't even bother investigating disputes in cases where there is clearly something wrong as it is. 

[Trudy]

Thank you both.  Do you know if EX has a tendency to screw things up like EQ?  I also hear, stay clear of making attempts to fix most things with EQ, they'd likely make it worst.  What about EX?

[Remedios]

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@Trudy wrote:

Thank you both.  Do you know if EX has a tendency to screw things up like EQ?  I also hear, stay clear of making attempts to fix most things with EQ, they'd likely make it worst.  What about EX?

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I havent heard of them messing up simple disputes like this as long as it's done online, but there is one slight risk.

If the issue is with the lender, there is no guarantee that EX will receive response from them. If that were to happen, EX might  remove entire account in order to remain in compliance, because they have 30 days to complete the investigation. Without a response, end result would be removal of entire account, because they cannot guess or add correct amount. 

I havent had any issues with EX, and if your other accounts are reporting and updating correctly on EX, I'd bet my left kidney mess is originated from the lender's side. 

I'd call them again, because I really dont think this is EX issue. 

[Trudy]

I think I'll give it more time while I investigate with the lender again, but will try the dispute if needed before it's paid off.  I would think I have a better chance of the TL not being deleted if there's a balance remaining.

Thanks for the responses.