How long does a disputed remark stay on report?

[RCOH]

I pulled my TU report from WalletHub mostly out of curiosity (Vantage 3). They seem to have up to date information but there is a notation added to my report for a collection from 2012.

I don't remember ever disputing this account. The remark reads "Account information disputed by consumer, meets FCRA requirements". This may have been my brother but I know I didn't dispute it.

Regardless, if it's a confirmed debt, does the remark stay on my report indefinitely? Could this hinder my efforts in obtaining new credit?

I plan on applying for another revolving this month. I'm waiting for my CC to report to all three CRA(s) before pulling scores (CCT) and applying. Thus far they have reported to EX & EQ, TU still has my old UTI and amount listed.

[RobertEG]

It shows that the dispute was resolved.

The factual record of a dispute has no exclusion or deletion date.

It need only be accurately updated to show that it has been resolved.

Many creditors will require disputes to be updated to show concluded before approving new credit, thus ensuring that the scores they are relying upon are based on accurate information

[RCOH]

Thanks for the information.

I still don't know who or when it was done but it's good to know it only shows it resolved.

[RonM21]

I would imagine from this point it will go away when once the account ages off.

[Revelate]

You can, and likely should get it airstruck if you ever are applying for a mortgage.  Fortunately you can request it and it isn't hard to do as it's a known issue around the mortgage space.

http://ficoforums.myfico.com/t5/Mortgage-Loans/Best-Way-to-Remove-quot-Account-In-Dispute-quot-for-M...

[RCOH]

---

@Revelate wrote:

You can, and likely should get it airstruck if you ever are applying for a mortgage.  Fortunately you can request it and it isn't hard to do as it's a known issue around the mortgage space.

http://ficoforums.myfico.com/t5/Mortgage-Loans/Best-Way-to-Remove-quot-Account-In-Dispute-quot-for-M...

---

Thanks for the information, very helpful. I would like to be able to qualify for a Mortgage eventually. It's one of the reasons I'm trying to correct my past mistakes. Disputed account do need to be removed before anyone can qualify for a FHA (according to link).

It's something I will address soon.

Thanks again.

[RobertEG]

This whole topic stems from the following provisions of the FCRA, which permits a consumer to contest the finding of dispute, and have their statement of their dispute included in all credit reports issued by the CRA:

"FCRA 611(b)  Statement of dispute.

If the reinvestigation does not resolve the dispute, the consumer may file a brief statement setting forth the nature of the dispute. The consumer reporting agency may limit such statements to not more than one hundred words if it provides the consumer with assistance in writing a clear summary of the dispute.

"FCRA 611(c) Notification of consumer dispute in subsequent consumer reports.

Whenever a statement of a dispute is filed, unless there is reasonable grounds to believe that it is frivolous or irrelevant, the consumer reporting agency shall, in any subsequent report containing the information in question, clearly note that it is disputed by the consumer and provide either the consumer’s statement or a clear and accurate codification or summary thereof."   ("disputed by the consumer" ??????  That is not what section 611(b) states.....)

This is often considered to still be an unresolved "dispute" in and of itsellf, when it is actually only a self-serving statement provided by the consumer after a dispute has been formally resolved.

Its intent and effect is unclear, and some creditors do not want the consumer staterment to continue to be included in thier credit report for some reason, apparently concerned that the matter is still unresolved.

It is, in my opinion, a huge waste of time, but if the consumer is requried to get it removed as a condition for approval of new credit, then they have no choice.

It is a permissive statement that the consumer should also be allowed to permissively delete........