Urgent: How does removing “dispute” wording hurt FICO score?

[Tryingtogetmydreamhouse]

Hi,

I am in a very difficult position. I have a disputed 6 year old closed collection account worth $6000. My LO doesn't want to run my file with the dispute wording since it's FHA. I paid off the balance and he did a rapid rescore but no result yet. The account numbers don't match on the creditor letter I provided so I am not very hopeful.

 So, my question is, how much will my FICO score 2,4,5 be hurt if I undispute the account and the balance is still $6000?

 My closing is in 11 days and I don't want to just wait any longer for the rapid rescore results. It's been 5+ days already and I am running out of time.

 Best regards

[VAMortgageGuy]

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@Tryingtogetmydreamhouse wrote:

Hi,

I am in a very difficult position. I have a disputed 6 year old closed collection account worth $6000. My LO doesn't want to run my file with the dispute wording since it's FHA. I paid off the balance and he did a rapid rescore but no result yet. The account numbers don't match on the creditor letter I provided so I am not very hopeful.

 So, my question is, how much will my FICO score 2,4,5 be hurt if I undispute the account and the balance is still $6000?

 My closing is in 11 days and I don't want to just wait any longer for the rapid rescore results. It's been 5+ days already and I am running out of time.

 Best regards

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If the account updates to show zero balance, you won't need to remove the dispute.

How does the account report? Does it say charge off, collection or something else? When was the last time it reported? 

[Tryingtogetmydreamhouse]

It's reported as charge off and it's closed. The rapid rescore isn't working, so the balance isn't showing zero. It's $6000~. It reports every month. Last activity/change was in 2018.

[VAMortgageGuy]

What is your loan officer saying? They can use the credit simulator to see what impact taking the account out of dispute will have on your scores.