Well, it looks good anyway

[southernficoaddict]

I just got 2 scorewatch alerts for myself and DH.  +22, +24,.  Apparently Sears DID update my account as disputed and it just hit our CR's.  Pulled Truecredit and lates are still listed but account says in dispute.  I know in a few weeks that scores will take a dive because Sears verified.  How depressing is that going to be.  Wouldn't it be nice if they just forgot about it and let it slip through the cracks? 

[wahmom]

I had that happen with HSBC on DH Ex report. It shows account in dispute - reported by subscriber. It's been that way for over a month now. I'm hoping it stays that way too!

[southernficoaddict]

This is a result of a GW letter.   Did your score go up?

[wahmom]

Yes I sent a GW letter too. I had several things changed during that time and his score did increase but I'm just not sure if that was a factor or not.

[Anonymous]

So, by disputing the account your scores are higher?  Wow!  I did not know that. 

[wahmom]

No I didn't dispute it, the OC updated the CRA to say that the account was in dispute when I sent a GW letter to them. I'm not sure how they misunderstood my GW letter but evidently they did. Only on EX though because the account was changed on the other 2 CRA's.

It is my understanding that when you dispute a TL then it is not counted in for Fico scoring.

[southernficoaddict]

That is my understanding, too.  I didn't dispute the lates either, just asked for GW.  Like I said, the lates are still showing on my CR, the only thing different is "consumer disputes" 

One more thing I wanted to ask, When last late payment hits 1 year mark, do you see a score increase?  Or is it 2 years?

[wahmom]

Hmm good question. Maybe someone else will come along and correct me but I think that the lates don't affect your score after 2 years.

[Anonymous]

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@wahmom wrote:
Hmm good question. Maybe someone else will come along and correct me but I think that the lates don't affect your score after 2 years.

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I think they DO affect your scores, but by only a "tad" ... from what I understand, FICO scores lates in regards to how recent more than anything ... and how BAD they were (say, 120+ days late, like we have).

So if you're talking about a few 30 days or a 60 day here and there, I don't think it's a huge deal ... especially after 2 years.

[Anonymous]

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@Anonymous wrote:

So, by disputing the account your scores are higher?  Wow!  I did not know that. 

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TLs are removed from FICO scoring when they're being disputed. Collections are NOT removed from scoring.

Disputing TLs (and having them removed from scoring) doesn't always help your score go higher while they're off (even if they have lates!) IF they're helping your overall credit history length.

So, as far as I understand it, if you have, say, a 10 year old (let's say it's your oldest TL) Sears CC with four 30 day lates, and you dispute the lates, the TL disappears from FICO scoring and your FICO will go DOWN since you just shortened your credit history.

At least, that's how I understand it!