does your FICO SCORE drop when you dispute items??

[Anonymous]

does your FICO SCORE really drop when you dispute items???? I disputed a sears acct said chargeoff and had a 400.00 balance. my dispute was that it was a duplicate because a collection agency was also reporting it and collecting the same balance that sears was reporting.  Sears recently updated the acct to  a zero balance and indicated it was a charage off transfer to a different lender.

Will that drop my SCORE and when  will the FICO score get update from  the  3 Cs

[llecs]

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can-do wrote:

does your FICO SCORE really drop when you dispute items???? I disputed a sears acct said chargeoff and had a 400.00 balance. my dispute was that it was a duplicate because a collection agency was also reporting it and collecting the same balance that sears was reporting.  Sears recently updated the acct to  a zero balance and indicated it was a charage off transfer to a different lender.

Will that drop my SCORE and when  will the FICO score get update from  the  3 Cs

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Yes, disputing TLs could drop your score. During the dispute, FICO will not read the history of that account, thus dropping your score if that account is older than your average age of accounts. If Sears is verified, your score will bounce back. If deleted, you'll lose the points.

[Anonymous]

hm I just got an update from experian, Sears reported status: transferred, closed/acct c/ and the balance was changed to NA.

Did that do anthing for my score????? Gosh i hope it did NOT drop....

[Anonymous]

gosh I have the update made by sears didnot affect me negatively.

they reported as a transferred,closed/acct charged off. $400.00 written off

balance NA

Any idea  what DAMAGE i did with the dispute????

[Anonymous]

Your score likely changed. Maybe for the good, maybe for the worse.

As far as your reasoning for disputing--- the OC and the CA can both report.

They can both report a balance. The OC only has to zero out the balance once they sell the debt.

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can-do wrote:

gosh I have the update made by sears didnot affect me negatively.

they reported as a transferred,closed/acct charged off. $400.00 written off

balance NA

Any idea  what DAMAGE i did with the dispute????

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[llecs]

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can-do wrote:

hm I just got an update from experian, Sears reported status: transferred, closed/acct c/ and the balance was changed to NA.

Did that do anthing for my score????? Gosh i hope it did NOT drop....

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Did you dispute all 3? Since the dispute is done, your EX score should reflect the correction. You may even get a small bump if that $400 was factored into utilization.

If a dispute is outstanding on EQ or TU, then you aren't out of the woods yet.

Disputing is bad. Even if reporting incorrectly, there are always letters you can send to an OC to get things fixed. When I started repair, I did dispute everything. I had disputed 2 lates on a First Premier account I had. I sent the dispute to all 3. The first CRA actually got First Premier to delete all lates. Good, right? However, the second CRA request came to them and they opted to delete instead. My score then dropped.

[Anonymous]

Dispute one debt with multiple tradelines, and my score dropped from 580 to 551. No telling how long they're going to be that low. I've heard that if you tell the bureaus you're closing on a house and actually have paperwork to send in, they'll do a rapid rescore if you ask for the mortgage pending department. But TU claimed to not have one, and I go through CSC for EQ, where you never get to speak to anybody, EVER. It plays a message and then hangs up on you.

Message Edited by intlschizo on 09-04-2008 09:44 PM

[Anonymous]

As long as the dispute is in process the score change will remain in effect. Depending on the outcome of the dispute, the score could raise, go back to where it was, or decrease.

As for rapid rescoring, this is something the lender needs to do, from my understanding. It is also my understanding that you have to have proof of whatever it is you want changed during the rapid rescore. Such as if you have a collection the CA agreed to delete, you need proof of that. If your CC balances are lower than what is reported, you need proof of that. These items still get verified with the creditor reporting, but only takes about 3-5 days.

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intlschizo wrote:
Dispute one debt with multiple tradelines, and my score dropped from 580 to 551. No telling how long they're going to be that low. I've heard that if you tell the bureaus you're closing on a house and actually have paperwork to send in, they'll do a rapid rescore if you ask for the mortgage pending department. But TU claimed to not have one, and I go through CSC for EQ, where you never get to speak to anybody, EVER. It plays a message and then hangs up on you.

Message Edited by intlschizo on 09-04-2008 09:44 PM

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