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I had 3 accounts with late payments when I first pulled my report and had disputed them. I also joined myFICO and requested credit alerts - and received alerts for 2 accounts. I just re-pulled my report and I only see one account with negative indicator under "Credit-At-A-Glance", the other 2 have been removed. However, when I look at the details under the "Accounts" section, I see the late payments still listed.
My question is - does that mean that the late payments are no longer impacting my score? Will these late payments ever be removed from my report or will they remain - or do the credit bureaus just remove this "negative flag"?
If you disputed any item or information, and the result of the dispute itself was correction or deletion of the item, the CRA was required, either withiin or as an attachment to their Notice of Results of Reinvestigation, to provide you an updated credit report, showing your credit report with the changes.
If the CRA deleted as a result of a dispute, they must have informed you so, and provided an updated CR that shows the deletion was done.
Apparently, if the accunt is still reporting the delinquencies, they were not deleted by the CRA as a result of the dispute.
Alerts and comments are not the actual statement of what is in your file or credit report, they are comments added by the party who produced the credit report.
It thus appears they are still in your file, and were not deleted.
Any adverse item of information reported to a consumer's credit file has a credit report exclusion date that depends upon the specific item of information.
Monthly delinquencies must be excluded from your credit report after 7 years from their date of occurence, and any collection or charge-off must be excluded after 7 years plus 180 days from the DOFD on the OC account. The CRA monitors the date of any adverse item, and is required to exclude that item from any future credit reports they issue after it has reached its maximum exclusion date.
Thanks for your response Robert!
I initiated the dispute this month and have not received any correspondence from the bureaus. I guess, it's not clear why myFICO report is no longer flagging these as negative accounts. Perhaps the process of removing them is still in progress and hence the reason they are still in my report but are no longer negatives. We'll have to wait and see I guess.
I have derogatory TL's (showing lates) that do not appear here as negative accounts. It's always important to see your actual reports to understand exactly how they are reporting.
Thanks Tom!
If I remember correctly, when I disputed an item, it was not counted in the "At a glance" summary while the dispute process was ongoing. Once the dispute was concluded the item was either removed and I was provided an updated CR or it was validated and then that entry was again reflected in the "At a glance' section.
Thanks cguccio!
Do you know if the temporary removal of the flag had any positive impact on your score that were subsequently removed and brought down your score again?