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Hi Everyone -- I'm totally confused, and would appreciate any help. I am cleaning up credit in order to apply for a mortgage. I contacted EX to remove the statement that "consumer disputes this account information." I also requested that a paid off medical account (not collection, installment agreement with hospital) be updated to reduce my DTI. Today I updated EX and my score dropped from 628 (1/19) to 547 (today). Nothing else changed. Any ideas or suggestions for me? All other scores increased.
Thanks so much.
did you ever figure this out?
Most likely a new collection account for the great of a drop.
I think so -- it was explained to me that when an account is in dispute, it isn't factored into the score. So, obviously, I had some negative items I disputed - when they were no longer in dispute status, they were then used to calculate my score. We had to seriously pay down our credit card debt, to 49% utilization on all cards, in order to get our scores to mid 600s once the dispute statements were removed.
@Anonymous wrote:I think so -- it was explained to me that when an account is in dispute, it isn't factored into the score. So, obviously, I had some negative items I disputed - when they were no longer in dispute status, they were then used to calculate my score. We had to seriously pay down our credit card debt, to 49% utilization on all cards, in order to get our scores to mid 600s once the dispute statements were removed.
Keep in mind this is only true of original creditor accounts. They are ignored by FICO when in dispute. CA accounts are not ignored, regardless of dispute status. Perhaps you had an OC account in dispute that had negatives (lates or whatever) and a high utilization? These two things being suddenly factored in would certainly account for a large score drop.