@MYFICOisWACKO2 wrote:
When doing a DV to a CA or OC why is it that we are encouraged to DV the CA or OC vs. filing the dispute with the CRA's? This is where we end up anyhow right? Someone please explain this step it almost sounds like a criticle piece of the puzzle.
TIA!
No question is dumb. None of us have all the answers.
First of all you only DV a CA and never an OC.
Second disputing can have unintended consequences:
- Disputing can drop your score if the baddie was old and gets verified. The DOLA can change and FICO will read it as a newer baddie. (This doesn't apply to collections).
- Disputing can result in accurate lates being added, if an account is verified or updates, when there were none before.
- Disputing can lead to a fraud alert.
- Disputing could lead to a score drop if a disputed account is removed and that account's age helped more than the baddie was hurting.
- Disputing more than once can lead to a frivolous disputer charge by the CRAs.
- Disputing does lead to increased collection activity, including potential lawsuits if within SOL.
- IMO, disputing makes it tougher to remove a baddie in the future.
- Disputing can lead to a split file with the CRA.
- Some mortgage lenders will frown on or deny a loan if an account is in dispute.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
That clears that RIGHT UP for me!