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Dispute update - what does this mean?

SuperAwesomeWow
Regular Contributor

Dispute update - what does this mean?

I disputed my Capital One auto loan with Experian. I had a lot of trouble paying this note but eventually paid it in full after a charge off. I don’t even remember what I disputed, I think it was because it was still saying open. I was basically just trying to see how the dispute function worked so I didn’t pay much attention.

Anyway, there were 12 late payments leading up to me paying the remaining balance in full. Now all of those show no data / not reported. Did they delete the lates? What does it mean when it goes from showing 90 days late to not having any info at all? Is that good?

Edit to add: should I dispute this with the other two and see if they will also make the same update?
FICO Scores
5/20/2019: EQ - 568 TU - 591 EX: 589
Message 1 of 6
5 REPLIES 5
dynamicvb
Valued Contributor

Re: Dispute update - what does this mean?

Is the dispute still open? Sometimes they will remove disputed items while it's open, but then when they are verified they come back. If they are valid then CapOne will verify and they will come back. It really does no good to dispute valid items as most of the time they get verified and then the update the reported date is also updated which can and usually does cause a drop in scores. If these are valid lates then a goodwill campaign is the only way to get them gone. From what I've read around the forums, CapOne does not normally grant goodwill requests, but you may have better luck.

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 5/28/20:


First Goal Score: 750+ Reached 3/2019

Next Goal all over 800
Message 2 of 6
SuperAwesomeWow
Regular Contributor

Re: Dispute update - what does this mean?

I’m not certain if the dispute is closed, although it says the same thing a closed dispute does. But it’s weird because I didn’t dispute the late payments, just the fact that the account was still showing open and it’s been closed for almost 2 years (in June). So weird. I assume they will come back.
FICO Scores
5/20/2019: EQ - 568 TU - 591 EX: 589
Message 3 of 6
RobertEG
Legendary Contributor

Re: Dispute update - what does this mean?

If your dispute was not based on asserted inaccuracy of the prior payment history profile, then formal resolution of the dispute would not involve any issue of deletion of that information by the CRA.

It appears that the creditor chose to voluntarily delete the prior reported derogs for some reason, such as removing any future disputes on that basis, after the debt was paid.  

 

I would not advise disputing with the other CRAs based on a voluntary deletion by the creditor with one CRA.

The common credit reporting manual used by the big-3 CRAs explicitly states that creditors are not to delete prior reported derogs based on payment of the debt.  Notwithstanding that policy, the creditor appears to nonetheless have reported voluntary deletion.

That does not create any basis for dispute of the accuracy of that reporting with other CRAs.

 

As an aside, CRAs do not have any policy of deleting derogs from your credit report while a dispute is pending.

"Removal of derogs during a pending dispute" only applies to removal by the FICO scoring algorithm from inclusion in your scoring while the dispute remains pending.  It does not delete them from your credit report while the dispute is pending.

 

Message 4 of 6
SuperAwesomeWow
Regular Contributor

Re: Dispute update - what does this mean?

Hey! I just double checked and the report says, “Account previously in dispute - investigation complete, reported by data furnisher.” That is so weird that they deleted those. I am thankful that they did though. These don’t report on TU, so the only one showing these now is EQ. I’m definitely not going to dispute it since it is not wrong info. Sadly no score bump from this as the issue I’m dealing with for my student loans is seriously holding my score hostage. But if that resolves the way it should. This will definitely help at that point!
FICO Scores
5/20/2019: EQ - 568 TU - 591 EX: 589
Message 5 of 6
SuperAwesomeWow
Regular Contributor

Re: Dispute update - what does this mean?

So strange! I got notified this morning that this loan was updated across the board. 12 late payments, gone, and all I ever asked was for them to report the loan as closed and paid in full after the charge off! I know those payments were late so I didn’t dispute it. Thanks, Capital One!
FICO Scores
5/20/2019: EQ - 568 TU - 591 EX: 589
Message 6 of 6
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