Question on disputes...

[helpwanted]

Am I correct in assuming that revolving/credit card accounts are not counted in FICO scoring models while under dispute? I recently found a couple errors while in the mortgage application process and have read in this forum that scores often drop while people dispute. Then I see some posts that state people's scores have increased while items are in dispute...what gives???

Neither of the two accounts have ever been late and these are the only derogs on my report

[Anonymous]

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helpwanted wrote:

Am I correct in assuming that revolving/credit card accounts are not counted in FICO scoring models while under dispute? I recently found a couple errors while in the mortgage application process and have read in this forum that scores often drop while people dispute. Then I see some posts that state people's scores have increased while items are in dispute...what gives???

Neither of the two accounts have ever been late and these are the only derogs on my report

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everyone is different. Remember while disputing many other things are still reporting & updating. everything matters in scores.

what derog, are on these 2 accounts?

[helpwanted]

30 day lates and they are strange.

One account is showing a 30 day late from last year-that never occurred nor was it on the last report the mtge lender pulled. The other is just a late mark since we started working with the current mortgage lender.

Go figure???

[Anonymous]

when you say late mark.....are these typed in or are you looking at the colored blocks?

If it states 30 day lates & should not...call them & ask about....ask them to correct it!

Message Edited by HappyDays on 09-19-2007 11:20 AM

[helpwanted]

Both-I think. I see both colored blocks (for instance, orange for 30 days) and a "1" under the 30-day column on other reports

[Anonymous]

I only look at orange......I would call them & tell them to correct it.

I ignore the colored boxes......unless red or orange.

Remember just because they are not all colored means nothing.

[Anonymous]

Your score can increase or decrease while an account is in dispute because that TL is (temporarily) taken out of the picture.

If it was your very first CC, then you have chopped down the length of your credit history when that TL is taken out.  This could drop your score.

If it was a CC with a short history and/or a lot of lates, then temporarily removing this negative history could raise your score.

So ignore any fluctations until the dispute gets straightened out.  Good luck!