101 point drop from dispute?

[Stugotsv10]

Working on a friends credit and saw something I have never seen before (of course its Equifax lol)  disputed an item that is incorrectly reporting, via PHONE actually, so all of a sudden BOOM 101 point drop and literally the ONLY change is "remark added" which states dispute in progress????

anyone see this before?

[rbentley]

Yes, this is happened to me, although not as significantly. My drop was only 8 points. In my case it happened from asking for a Goodwill adjustment from Cap1. They treated it as a dispute and marked my reports accordingly, resulting in a point drop.

This occurs because the FICO algorithm excludes accounts which are in dispute. Thus, you could either lose or gain points depending on how that particular account is affecting your reports. The good news is that the dispute language should be removed automatically at the time the dispute is resolved, usually within 30 days and your points returned to you.

[Anonymous]

Usually this works the other way around, though.  If one is disputing an account, most of the time it's due to something negative being present on the account.  If it's a negative account, it should be adversely impacting that credit profile and if the dispute causes it to be excluded from the FICO algorithm, you'd expect to see score improvement if anything.  A 100+ point swing can only come from one of two things, a major negative item (90+ day late, collection, etc) being present vs not present, or overall utilization going from perfect to maxed out or vice versa. 

What is present on the account in question that you're disputing?  Do you have any other accounts that are similar and/or how many dirty accounts do you have?

[Stugotsv10]

Government.

but they stopped reporting, so nothing "new" with them, just remaks, I know CK is not the best but under "whats changed" it says remarks" nothng else

[Anonymous]

Since you referenced CK above, I should also ask if the score you're referencing is from CK as well?

If so, it's not a FICO score and can be ignored.  Your CK scores could drop 300 points each and it would have no bearing on any lending decisions.

[Stugotsv10]

is it ever off by THAT much?? 

[Anonymous]

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is it ever off by THAT much?? 

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Off from what, a FICO score?  Yes, VS 3.0 scores can be off 100 points or more from FICO scores.  Like I said above though, VS 3.0 scores don't matter since no one (other than you) will ever look at them or care about them.  Going forward it would be a best practice to only look at your FICO scores since they are what's relevant.

[Jnbmom]

Is the score from FICO or CK?

If it's CK than disregard you can't even remotely go by that score ........................................

[Anonymous]

My score dropped 15 points ONLY because I opened a dispute. I called EXPERIAN (which I hate) and opened a dispute because there was a collection account that's supposed to be removed from my account. FORTY-FIVE minutes later: ALERT!!!SCORE DROPPED 15 points. Absolutely nothing else negative in my profile. This is nothing but a scam they're running. I scanned my credit and NOTHING ELSE COULD be the reason.

[Anonymous]

I still think your score drop came from something else.